1234 Main St New Orleans, LA 70117
- Retirement homes
- 35,000 SF
Current Use by Public Records
- Retirement homes
Property Details for 1234 Main St
- Property size
- 35,000 SF
- Property type
- Retirement homes
- Property subtype
- Assisted living facilities
Description
This exceptional 60-unit assisted living facility in New Orleans, Louisiana, presents a compelling investment opportunity. Located at 1234 Main Street, New Orleans, LA 70117, the property boasts a substantial 35,000 square feet of space, currently operating with a strong occupancy rate and an excellent reputation within the community. The asking price is $9,700,000, translating to a price per square foot of $277.14. The property's strong performance is reflected in its projected net operating income (NOI) of $890,000, yielding a pro-forma cap rate of 9.18%. A full-time maintenance manager ensures the facility is consistently well-maintained and regularly upgraded. Market analysis indicates significant demand for senior housing in the New Orleans area, particularly in this specific location. Adding to its potential, two adjacent commercial lots are available for purchase, offering expansion opportunities for services. This presents a rare chance to acquire a well-established, high-performing assisted living facility in a desirable market with significant growth potential. The property is situated at 29.9682679 latitude and -90.0326531 longitude.
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
- New Orleans
- County
- Orleans
- State
- Louisiana
- Longitude
- -90.0327
- Latitude
- 29.9683
