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Property profile & analytics
FOR SALE
Retail space

1240 Camp St New Orleans, LA 70130

8,520 SF 0.2 ac lot Built 1940
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US36-0473884
Property summary
AI-generated overview

This exceptional Class A creative office building, located at 1240 Camp Street in New Orleans' Lower Garden District, presents a compelling investment opportunity. The 8,655 square foot property, built in 1995, sits on a 0.2-acre lot and boasts a prominent corner location at the intersection of Camp and Thalia Streets. Currently 100% occupied by a credit-rated tenant under a gross lease, the building offers a stabilized investment with a remaining lease term of approximately 1.6 years, expiring June 30, 2026, with renewal options. The property features 5,455 square feet of office space and an additional 3,200 square feet of garage space. The asking price is $1,800,000, translating to $207.97 per square foot. The building is zoned HU-B1A and benefits from its location within a short distance of the Central Business District, a two-way thoroughfare with bike lanes, and attractive landscaping. This single-story building offers unparalleled finishes and amenities, exceeding market standards. The property's strong tenant, Tabasco (McIlhenny Company), ensures a stable income stream. This is a rare opportunity to acquire a high-quality, well-located, and fully occupied commercial property in a desirable New Orleans neighborhood.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1940
Total area 8,520 SF
Lot 0.2 ac (8,640 SF)
APN 102103820
UPID US36-0473884
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.83M
CAP Approach CAP
$1.62M
Comparable Approach Comparable
$1.88M
Blend (final) Blend
$1.95M
Owner & transaction history
Ngh Property 1 LLC · 6 yrs held
Ngh Property 1 LLC
since 2020
Last sale
$2.2M
2 recorded transactions
2020
$2.2M
2014
$1.5M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $2.0M +58.0%
Commercial (general) $1.8M +41.5%
Restaurant $1.6M +27.7%
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More about this property
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