Oak Street Corner Property on Big Lot

Retail-Commercial for Sale
Catylist Listing ID: 30837060
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 2,982 SF
Gross Building Area: See Agent
Gross Land Area: 7,909 SF
Sale Price: $1,250,000
Unit Price: $419.18 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/5/2023

Overview / Comments

8739 Oak Street sits at the highly visible intersection of Eagle and Oak Streets where Leake Avenue turns into River Road. Approximately 8,000 sf on 3 lots, this is an ideal property for redevelopment.

This site has been the home of Graffiti Graphics for twenty years, but the company is now closing. The property includes a commercial space within a corner grocery store; a private residence with stainless steel appliances, large windows, and a washer/dryer; and a space that is currently being used for storage. The buildings enclose a gated courtyard.

It is zoned HU-MU Neighborhood Mixed-Use District which is intended for areas of mixed-use development that are close to residential neighborhoods. The buildings may qualify for economic tax incentives and/or historic tax credit redevelopment.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 716200406
Retail Clientele: General
Site Description: The property consists of three lots with the addresses of 8735, 8737, and 8739 Oak. The main building on the site is composed of three smaller structures: the former sign shop with 1,564 sf, an ancillary retail space with 545 sf, and a residence with 873 sf. There is an additional structure on the site which is currently used for storage and has an attached garage.
Zoning Description: The HU-MU Neighborhood Mixed-Use District permits single and multi-family residences along with a range of commercial uses including animal hospital, art gallery, bar, live entertainment venue, office, and restaurant.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,756 158,250 403,681
Median Age: 33.39 37.07 38.45
Households: 9,057 67,941 174,817


Photograph of Listing Agent

Austin Lavin, CCIM

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 Moody's assume any liability for errors or omissions.