2047 Lafayette StNew Orleans, LA 70113

Property Details for 2047 Lafayette St

Year built

1940

Lot size

0.06 AC

Property size (Sq ft)

3,120 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

103108206

APU

103108206

Description

This exceptional investment opportunity presents a unique blend of existing warehouse space and significant land potential in the vibrant New Orleans industrial market. The property comprises three interconnected warehouse buildings, totaling 9,434 square feet, situated on a 10,211 square foot lot. Currently in poor condition, the buildings offer a blank canvas for renovation or redevelopment. Alternatively, the existing structures could be demolished to create a prime 10,211 square foot industrial land site. The property boasts a convenient location in a well-established industrial area, strategically positioned near the Caesars Superdome, and easily accessible via major thoroughfares including I-10, South Claiborne Avenue, Poydras Street, and South Broad Street. The property is zoned for light industrial use, offering flexibility for a variety of potential projects. With a price per square foot of $32.44, this offering presents a compelling value proposition for owner-users or developers seeking a strategic foothold in a dynamic urban environment. The single-story buildings feature one loading dock, providing convenient access for goods and materials. This property is ideal for those seeking a redevelopment project or a prime location for a new industrial construction. The combination of existing structures and ample land provides a unique opportunity to tailor the property to specific business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $727,318

  6.5%

  $671,371

  7%

  $623,416

• Comparable approach

  Method

  Valuation

  Relative Method

  $599,751

  Geo Method

  $558,938

• Alternative Use

  Use

  Valuation

  Residential

  $566,326

  Hospitality

  $518,752

  Educational

  $431,595

  Medical

  $446,439

  Retail

  $671,371

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9547

Longitude

-90.0867

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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