8523 Oak StNew Orleans, LA 70118

Property Details for 8523 Oak St

Year built

1920

Lot size

0.10 AC

Property size (Sq ft)

1,098 SF

Property type

Office properties

Property subtype

Office buildings

APN

716200616

APU

716200616

Description

This exceptional mixed-use property, located at 8523 Oak Street in New Orleans, Louisiana, presents a unique investment opportunity. The 1,098 square foot building sits on a lot zoned HU-MU (Historic Urban Neighborhood Mixed-Use District) and offers a blend of retail and residential space. The front portion is ideally suited for a retail business, capitalizing on the high foot traffic of the vibrant Oak Street neighborhood, known for its restaurants, boutiques, and community events. The rear of the property provides residential space, including bedrooms, offering a seamless integration of work and living. A significant advantage is the large outdoor space or backyard, a rare find in an urban setting, providing potential for expansion or simply a private retreat. The property's proximity to Tulane and Loyola Universities further enhances its appeal, benefiting from the dynamic energy and high traffic of a college neighborhood. The asking price is $249,000, translating to $226.78 per square foot. This versatile property is perfect for owner-occupants or investors seeking a prime location in Uptown New Orleans. The property's APN is 716200616. This is a single-building property in Orleans Parish, zip code 70118.

• CAP approach

  CAP return

  Valuation

  6%

  $174,122

  6.5%

  $160,728

  7%

  $149,248

• Comparable approach

  Method

  Valuation

  Relative Method

  $83,756

  Geo Method

  $78,057

• Alternative Use

  Use

  Valuation

  Residential

  $199,303

  Hospitality

  $182,561

  Educational

  $151,888

  Medical

  $157,112

  Retail

  $236,271

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9507

Longitude

-90.1334

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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