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    2940 Royal St New Orleans, LA 70117

    Sponsored
    For Lease
    $4 SF/Yr

    Spacious Bywater Warehouse, 11 Docks, Immediate Occupancy

    Lot size:
    63,244 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 63,244-square-foot warehouse, located at 2940 Royal Street in New Orleans' vibrant Bywater neighborhood, presents a significant industrial opportunity. The property boasts a single-tenant occupancy, offering immediate availability for a new lessee. The building is classified as Class B and features impressive ceiling heights ranging from 17 to 25 feet, providing ample vertical space for storage and operations. Eleven loading docks and one drive-in door ensure efficient loading and unloading capabilities. The expansive lot size of 87,092 square feet offers significant potential for expansion or outdoor storage. The property is zoned HU - MU, Historic Marigny/Treme/Bywater Mixed-Use District, within Orleans Parish, Louisiana, and has a zip code of 70117. The building's total square footage is 63,244 square feet, all of which is currently vacant. Net, Net, Net (NNN) charges are $1.14 per square foot annually, a rate guaranteed for a maximum of 24 months. The owner is open to considering leasing the entire building or a portion thereof. This prime location offers easy access to major transportation routes and is situated within a dynamic and rapidly developing area. This warehouse is ideal for businesses seeking a large, well-equipped space in a desirable New Orleans location.

    Property Features for 2940 Royal St

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    63,244 SF
    Class
    B
    Total Rate
    25034.08

    Unit(s) available at that property

    Space
    Available Suite 1
    Size
    63,244 SF
    Rate per SF
    $4

    HighLights

    • 2940 Royal Street, New Orleans, LA 70117
    • NNN lease at $3.00/SF; Real Estate Taxes: $4,617.72/month; Insurance pro‑rated prior to occupancy.
    • 63,244 SF building with 912 SF of office space.
    • 87,092 SF lot.
    • HU‑MU zoning (Historic Marigny/Treme/Bywater Mixed‑Use).
    • 11 dock‑high doors, 1 ramp door.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.0480596
    Latitude
    29.9639241

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    FAQs

    What type of property is this?
    Distribution property - Spacious Bywater Warehouse, 11 Docks, Immediate Occupancy
    Where is this distribution property located?
    The property is located at 2940 Royal St New Orleans, LA.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: 2940 Royal Street, New Orleans, LA 70117; NNN lease at $3.00/SF; Real Estate Taxes: $4,617.72/month; Insurance pro-rated prior to occupancy.; 63,244 SF building with 912 SF of office space.
    Request Owner's contact information
    2940 Royal St New Orleans, LA 70117
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    New Orleans, LA 70117
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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
    2940 Royal St New Orleans, LA 70117
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