820 O'keefe Ave New Orleans, LA 70113

Property Details for 820 O'keefe Ave

Property size

18,716 SF

Property type

Office Properties & Spaces

Property subtype

Land

Description

This exceptional Class A office building at 820 O'Keefe Avenue in New Orleans presents a compelling redevelopment opportunity. The property boasts 18,466 square feet of net rentable space within a two-story, 18,716-square-foot building situated on a substantial 34,933-square-foot lot. Currently vacant, the building last underwent renovations in 1984 and 2006. The asking price is $6,500,000, translating to $347.30 per square foot. The land itself holds significant value, with a price per square foot of $217.99. Located in the desirable Central Business District (CBD), this property benefits from a prime location across from the new South Market mixed-use development and near numerous amenities, including the Standard Luxury Condominiums, South Market apartments, restaurants, retailers, art galleries, a CVS, and a Rouses Supermarket. Its proximity to the Hyatt Regency hotel, high-rise Class A office buildings (such as the Entergy Headquarters Building and Energy Center), and City Hall further enhances its appeal. The property is zoned CBD-5, offering flexibility for various development scenarios. The building is also available for lease on a short- or long-term basis at a net rate of $12.00 per square foot. Given the burgeoning development in the area, including new boutique hotels and apartment units/condos, this property offers significant potential for investors seeking a high-impact redevelopment project in a thriving New Orleans neighborhood. The property's vacancy date is August 31, 2023.