3525 Prytania StNew Orleans, LA 70115

Property Details for 3525 Prytania St

Year built

1980

Lot size

0.01 AC

Property size (Sq ft)

1,576 SF

Property type

Office properties

Property subtype

Other office properties

APN

614226627

APU

614226627

Description

This exceptional investment opportunity presents three fully built-out medical office condominiums in a Class B, six-story building located in Orleans Parish. The suites, numbers 402, 430, and 526, offer a range of sizes, from 1,686 square feet to 6,706 square feet, catering to various practice needs. Each condo boasts convenient access to attached garage parking, ensuring ease of access for patients, physicians, and staff. A key advantage is the enclosed catwalk connection to Touro Hospital, providing seamless patient flow and enhancing the overall convenience of the location. Suite 402, spanning 6,706 square feet, is available for sale at $1,609,000 or lease at $35.00 per square foot. Suite 430, measuring 1,686 square feet, is priced at $362,460 for sale or $30.00 per square foot for lease. Finally, Suite 526, encompassing 6,191 square feet, offers a sale price of $1,176,290 or a lease rate of $30.00 per square foot. The building is zoned MC and situated just two blocks from the intersection of St. Charles Avenue and Louisiana Avenue, offering excellent visibility and accessibility. The property's APN is 614226617, and its convenient location and features make it an ideal investment for medical professionals seeking a thriving practice environment. Multiple tenancy is available.

• CAP approach

  CAP return

  Valuation

  6%

  $249,924

  6.5%

  $230,699

  7%

  $214,221

• Comparable approach

  Method

  Valuation

  Relative Method

  $120,219

  Geo Method

  $112,038

• Alternative Use

  Use

  Valuation

  Residential

  $286,067

  Hospitality

  $262,036

  Educational

  $218,011

  Medical

  $225,509

  Retail

  $339,128

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9267

Longitude

-90.0926

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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