1055 St Charles Ave New Orleans, LA

Located on St. Charles Avenue in New Orleans, this 2.2-acre property presents a redevelopment opportunity. The site includes a 7-story office building with 70,446 rentable square feet. Situated within the CBD-3 Cultural Arts District, the zoning supports a mix of uses, including residential, hotel, retail, and restaurant options. A surface parking lot offers additional development possibilities. The existing office building is currently operating with a healthy occupancy rate, leased at Class A office rates. The location offers exceptional visibility, with approximately 112,000 vehicles per day on St. Charles Avenue. Proximity to the Pontchartrain Expressway and Carondelet Street further enhances its exposure. During Mardi Gras, the area experiences significant foot traffic, with well over 100,000 people on peak days. The existing office structure and expansive parking lot offer significant redevelopment potential for a mixed-use project. The property is located within an Opportunity Zone, offering potential tax incentives. It has also been designated a historic landmark and is eligible for federal and state historic tax credits, potentially covering up to 45% of renovation costs. The property is near cultural landmarks such as The National WWII Museum and The Contemporary Arts Center, as well as educational institutions like Tulane University and Loyola University.