711 Vienna StRuston, LA 71270

Property Details for 711 Vienna St

Year built

1882

Lot size

0.30 AC

Property size (Sq ft)

2,849 SF

Property type

Office properties

Property subtype

Other office properties

APN

699

APU

699

Description

This exceptional 24,962 square foot mixed-use property, situated on a 1.82-acre lot in Ruston, Louisiana, presents a unique investment opportunity. Previously serving as the city's first hospital and later utilized by Louisiana Tech University, this historic building is now available for purchase with approved architectural plans for conversion into a 20-unit multi-family complex. The $820,000 purchase price includes the land and building, plus the value of completed work with the Louisiana Division of Historic Preservation (SHPO) in securing state Historic Tax Credits (HTC). The SHPO process is underway, with "Certification of Contributing Status" already approved and the "Proposed Work Description" awaiting confirmation (Project # 48051). The seller will transfer all rights and benefits of the completed SHPO work to the buyer upon a successful sale, significantly reducing the financial burden of this historic rehabilitation project. This prime location in a rapidly developing area of Ruston offers substantial potential for a strong return on investment. The property's rich history and the potential for significant tax credits make this a truly exceptional opportunity for developers seeking a high-impact project. The architectural plans are included in the sale, providing a clear path to converting this landmark building into a thriving multi-family complex.

• CAP approach

  CAP return

  Valuation

  6%

  $452,713

  6.5%

  $417,889

  7%

  $388,040

• Comparable approach

  Method

  Valuation

  Relative Method

  $538,118

  Geo Method

  $203,789

• Alternative Use

  Use

  Valuation

  Residential

  $518,182

  Hospitality

  $474,652

  Educational

  $394,905

  Medical

  $408,486

  Retail

  $614,297

Location Insight

City

Ruston

County

Lincoln

State

Louisiana

Latitude

32.5352

Longitude

-92.6381

CBSA code

40820

CBSA name

RUSTON, LA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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