401 St Joseph St New Orleans, LA 70130

Property Details for 401 St Joseph St

Year built

1905

Property size

21,142 SF

Property type

Office Properties & Spaces

Property subtype

Office space

Description

This exceptional Class A, three-story office building, totaling 21,142 square feet, is situated in New Orleans' vibrant Warehouse District at 401 St. Joseph St, zip code 70130. Built in 1905 and extensively renovated in 2017, the property boasts 19,050 net rentable square feet and currently enjoys 75.8% occupancy with two tenants under 10-year NNN leases commencing November 1, 2016. The current asking price is $4,995,000, translating to $236.26 per square foot. The building features impressive 15-foot ceiling heights on the second and third floors, and benefits from a strong net operating income (NOI) of $285,204. The property's prime location offers excellent visibility and proximity to key attractions including the Convention Center, Gallery Row, and Lafayette Square Park. Contract parking is available in adjacent lots. The building is equipped with three-phase power and a fully sprinklered system. The roof features a single-ply Durolast Inc system with a 15-year manufacturer warranty installed in 2007. The first floor, currently vacant (4,614 sq ft), presents a significant opportunity for additional income. Lease terms include rent bumps, and lease options are available. The lot size is 7,751 square feet, and the building is zoned CBD-6. The rooftop is engineered to support a potential 4,000 square foot addition. Financial details, surveys, and floor plans will be provided upon execution of a Non-Disclosure Agreement.

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Longitude

-90.0688

Latitude

29.9436