Strategic Value-Add Office Building For Sale

Office for Sale
Catylist Listing ID: 30334908
Property Subtypes: Executive Suites, Governmental, Institutional, Medical, Mixed Use, Office Building
Building Size (RSF): 89,376 SF
Gross Building Area: 110,562 SF
Gross Land Area: 43,529 SF
Sale Price: $1
Unit Price: $0 PSF
Property Use Type: Investment
Building Name: Tulane Tower
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/19/2018

Overview / Comments

An investor should view this property as a value-add office purchase opportunity.

This 110,562 square-foot (89,376 RSF) building is located directly adjacent to both the Orleans Parish Courthouse complex & New Orleans VA Medical Center/UMC Hospital complex.
The property also contains a three level garage holding 205 spaces.
The property comprises approximately 1 acre of land.
Presently, the building is 93% occupied, however, it will change to approximately 60% in 2019. Most leases are month to month or less than 2 years in length.
There is no official marketing price. After a period of time for prospects to view and tour, there will be a call for offers from qualified buyers.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41031412
Zoning: MU-1
Property Located Between: Dorgenois, Broad St, Banks St.
Property Visibility: Excellent
Highway Access: Situated on Tulane Av which is highway 61
Number of Stories: 10
Typical SF / Floor: 9,200 SF
Construction/Siding: Concrete
Parking Type: Structure
Parking Description: 205 spaces in a 3 level garage
Total Parking Spaces: 205

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,540 208,588 409,960
Median Age: 32.14 36.38 37.26
Households: 8,920 91,813 175,015

Contact

Photograph of Listing Agent

Keith Adler

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.