711 Vienna St Ruston, LA 71270-3333
- Office Properties & Spaces
- 2,849 SF
- 0.30 lot acres
Current Use by Public Records
- Bromell Agency, Inc. / Insurance Agency / Auto Insurance Agency
Property Details for 711 Vienna St
- Year built
- 1882
- Lot size
- 0.30 lot acres
- Property size
- 2,849 SF
- Property type
- Office Properties & Spaces
- APN
- 699
- APU
- 699
Description
This exceptional 24,962 square foot mixed-use property, situated on a 1.82-acre lot in Ruston, Louisiana, presents a unique investment opportunity. Previously serving as the city's first hospital and later utilized by Louisiana Tech University, this historic building is now available for purchase with approved architectural plans for conversion into a 20-unit multi-family complex. The $820,000 purchase price includes the land and building, plus the value of completed work with the Louisiana Division of Historic Preservation (SHPO) in securing state Historic Tax Credits (HTC). The SHPO process is underway, with "Certification of Contributing Status" already approved and the "Proposed Work Description" awaiting confirmation (Project # 48051). The seller will transfer all rights and benefits of the completed SHPO work to the buyer upon a successful sale, significantly reducing the financial burden of this historic rehabilitation project. This prime location in a rapidly developing area of Ruston offers substantial potential for a strong return on investment. The property's rich history and the potential for significant tax credits make this a truly exceptional opportunity for developers seeking a high-impact project. The architectural plans are included in the sale, providing a clear path to converting this landmark building into a thriving multi-family complex.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ruston
- County
- Lincoln
- State
- Louisiana
- Longitude
- -92.6381
- Latitude
- 32.5352
- CBSA code
- 40820
- CBSA name
- RUSTON, LA MICROPOLITAN STATISTICAL AREA
