Distinguished Historic CBD Building
Office
for Sale
Also listed as Special Purpose
| Catylist Listing ID: |
30841497 |
| Property Subtypes: |
Mixed Use, Office Building
|
| Building Size (RSF): |
41,922 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$7,300,000 |
| Unit Price: |
$174.13 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Vacant/Owner-User |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/19/2024 |
Overview / Comments
This historic gem presents a noteworthy opportunity for redevelopment in the CBD. Formerly the New Orleans Branch of the Federal Reserve Bank, the Security Center was once located in the heart of what was known as New Orleans’ Wall Street and is now the Central Business District. It faces the downtown St. Charles streetcar line, one block from the intersection of Canal Street and Bourbon Street. In addition, this centrally located area is only a few blocks from the Medical District and the Warehouse District.
The building is being offered free and clear of encumbrances; it is vacant without leases or any major commitments. There is a long-term Parking Services Agreement between the Security Center and the Pere Marquette Garage granting the Security Center 25 parking spaces free of charge for another almost 80 years.
|
Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Orleans |
| Submarket/Township: |
Greater New Orleans |
| Tax ID/APN: |
105101513 |
| Property Visibility: |
Excellent |
| Highway Access: |
convenient access to I-10, US 90, and more. |
| Area Description: |
With a daytime population of 143,764, the CBD includes 16 Class A office buildings containing approximately 9.0 million square feet. Additionally, there are numerous hotels, residential condos, and apartments. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
6 |
| Year Built: |
1923 |
| Exterior Description: |
Built in the neoclassical style, it features pillars adorned with palms,
heavy cornices, and a stone carving of the Federal Reserve’s emblem
over the main entrance on Carondelet Street. |
| Parking Type: |
Structure |
| Parking Description: |
25 free parking spaces in the Pere Marquette Garage; contract extends another approx. 80 years |
| Passenger Elevators: |
1 |
| Interior Description: |
3rd and 6th floors are recently renovated office space, 4th and 5th floors need renovation, ground floor is showcase office space and contains vault, and 2nd floor is a spectacular expansive special event venue. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
19,510 |
193,985 |
407,639 |
| Median Age: |
39.93 |
35.79 |
37 |
| Households: |
10,010 |
84,379 |
171,471 |
|
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.
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