Exceptional Trio of Historic Buildings in New Orleans

Office for Sale
Call for Offers
Also listed as Multi-Family
Catylist Listing ID: 30818180
Property Subtypes: Coworking, Flex Space, Office Building, Other
Building Size (RSF): 38,729 SF
Gross Building Area: See Agent
Sale Price: $1
Unit Price: $0 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 11/29/2022

Overview / Comments

These three interconnecting buildings, formerly the home of Peter Mayer Advertising, are offered for sale. Comprising a total of 38,729 sf in the heart of downtown New Orleans, this is a perfect development opportunity for multi family, hospitality, or co-working. Originally built in the 1800s, these three buildings will be able to get both state and federal historic tax credits (HTCs). The HTCs will allow a developer to recoup over 30% of its renovation costs.

Each building consists of four floors that connect on each level. This masterfully done renovation preserves the character of the buildings while providing contemporary interiors. The property spans the width of a downtown block, with the fronts of the buildings facing Camp Street and the backs providing access to
Picayune Place.

The property is only one and a half blocks from Poydras Street, a primary thoroughfare for the Central Business District, and adjacent to Class A office buildings, hotels, and restaurants. It is also only two blocks from Canal Street and the French Quarter. This is an exceptional commercial real estate opportunity.

The three buildings are:

318 Camp St is a four-story, 18,872-sf building. It features a soaring four-story glass atrium, state-of-the-art conference rooms and technology, a large open lounge area with kitchen, contemporary office spaces, and a glass-backed elevator.

320 Camp St is a four-story, 9,923-sf building constructed of brick that features double show windows.

324 Camp St is a four-story, 9,934-sf building that served as the original home of Peter Mayer Advertising. It features original pressed tin ceilings, skylights, and a vintage elevator.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Zoning: CBD-2
Property Located Between: Poydras and Gravier
Property Visibility: Good
Highway Access: I-10, Pontchartrain Expressway, Hwy 90
Airports: MSY
Site Description: Three buildings along busy street that directly connects CBD with French Quarter. Buildings under one ownership from 1980 to present, updated and interconnected.
Area Description: Class A office towers, hotels, restaurants, bars, and coffee shops in the direct vicinity. Only a few blocks to French Quarter.
Total Number of Buildings: 3
Number of Stories: 4
Year Built: 1850
Construction/Siding: Brick
Parking Type: Other
Passenger Elevators: 2
Interior Description: Interconnected buildings provide contemporary interiors. mixture of open spaces, private offices, and shared work areas. In 318 Camp, features include a 4-story atrium covered with glass roof and a break room area with kitchen.
Zoning Description: Current zoning is CBD-2 - Historic Commercial and Mixed-Use District - This provides for the reuse of existing structures in historic and along prominent mixed-use corridors that frame the Central Business District. Future zoning is DMU (Mixed-Use Downtown) that encourages further development of a walkable downtown area.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,470 184,346 403,757
Median Age: 40.84 35.97 36.92
Households: 9,759 80,953 169,394

Contact

Photograph of Listing Agent

Donna Whalen Little

Corporate Realty - Main Office New Orleans, LA 70170-0000
Photograph of Listing Agent

Michael J Siegel, SIOR

Corporate Realty - Main Office New Orleans, LA 70170-0000
Photograph of Listing Agent

Randy R White

Corporate Realty - Main Office New Orleans, LA 70170-0000
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.