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    611 O'keefe Ave New Orleans, LA 70113

    Sponsored
    For Lease
    $32 SF/Yr

    Prime New Orleans retail space available.

    Lot size:
    262,515 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail opportunity is located within The Paramount at South Market, a vibrant five-story building (262,515 total square feet) in the heart of New Orleans' South Market (SOMA) district. Built in 2014, this single building sits on a 1.22-acre lot and is zoned CBD-1. Two second-generation restaurant spaces are available, ranging from 1,817 to 2,102 square feet. Lease rates are $32.50 to $35 per square foot, with a NNN charge of $6.50 per square foot. The property's prime location offers unparalleled access to high foot traffic, drawing millions of locals and tourists annually. Its proximity to major landmarks like the Superdome, Smoothie King Center, and Champions Square ensures consistent visibility and accessibility. The surrounding area boasts a thriving mix of local boutiques, award-winning restaurants, national retailers, and galleries, creating a dynamic and desirable environment for businesses. This is a unique chance to establish a presence in one of New Orleans' most sought-after commercial districts. The building itself is a blend of renowned architecture and contemporary design, reflecting the rich history and modern energy of the neighborhood. This presents an ideal location for businesses seeking to capitalize on the area's bustling atmosphere and diverse clientele.

    Property Features for 611 O'keefe Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    262,515 SF
    Total Rate
    710978.13

    Building Details

    Year Built
    2014
    Buildings
    1
    Stories
    5

    Unit(s) available at that property

    Space
    Suite C-1
    Size
    1,817 SF
    Rate per SF
    $32
    Space
    Suite 8
    Size
    2,102 SF
    Rate per SF
    $35

    HighLights

    • Retail property, multifamily and restaurant use, multiple tenants.
    • 262,515 square foot building on a 1.22‑acre lot, built in 2014.
    • Five‑story building with CBD‑1 zoning.
    • Two available retail spaces, 1,817 - 2,102 square feet each, in a second‑generation restaurant space.
    • Lease rate: $32.50 - $35.00 per square foot, NNN: $6.50 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.074778739606
    Latitude
    29.948743878818

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    FAQs

    What type of property is this?
    Restaurant - Prime New Orleans retail space available.
    Where is this restaurant located?
    The property is located at 611 O'keefe Ave New Orleans, LA.
    What is the lease rate?
    The lease rate is $32-$35 SF/Yr.
    What are key features of this property?
    This property features: Retail property, multifamily and restaurant use, multiple tenants.; 262,515 square foot building on a 1.22-acre lot, built in 2014.; Five-story building with CBD-1 zoning.
    Request Owner's contact information
    611 O'keefe Ave New Orleans, LA 70113
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    611 O'keefe Ave New Orleans, LA 70113
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