Catylist ID:
#30855522
Exceptional Real Estate in Exceptional Location with Owner Financing
Office
for Sale
| Catylist Listing ID: | 30855522 |
| Property Subtypes: | Flex Space, Office Building |
| Building Size (RSF): | 38,729 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $5,900,000 |
| Unit Price: | $152.34 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Building Name: | Peter Mayer Building |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller, Owner Financing |
| Cap Rate: | Undisclosed |
| Last Updated: | 12/4/2023 |
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 buildings: 1. 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. 2. 320 Camp St is a four-story, 9,923-sf building constructed of brick that features double show windows. 3. 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. |
Attachments & Media
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Orleans |
| Submarket/Township: | Greater New Orleans |
| Tax ID/APN: | 104101007 |
| Zoning: | CBD-2 |
| Property Located Between: | Camp and Poydras |
| Property Visibility: | Excellent |
| Highway Access: | I-10, US 90, Pontchartrain Expressway |
| Airports: | MSY |
| Area Description: | 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. |
| Total Number of Buildings: | 3 |
| Number of Stories: | 4 |
| Year Built: | 1850 |
| Exterior Description: | Historic buildings in a variety of styles, all from mid-1800s. |
| Parking Type: | Structure, Surface |
| Parking Description: | Surface and covered parking options available nearby. |
| Passenger Elevators: | 2 |
| Interior Description: | Mix of private offices, open work area, and conference rooms. Feasibility Studies done for hotel and multifamily. |
| Zoning Description: | Historic Commercial and Mixed Use -provides for re-use of existing structures in historic and along prominent mixed-use corridors that frame CBD. Future zoning is DMU - Mixed Use Downtown. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 17,470 | 183,612 | 403,757 |
| Median Age: | 40.84 | 35.94 | 36.92 |
| Households: | 9,759 | 80,657 | 169,394 |
Contact
| 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. |
