3037 Royal St New Orleans, LA 70130
- Medical offices
- 12,500 SF
Current Use by Public Records
- Medical offices
Property Details for 3037 Royal St
- Property size
- 12,500 SF
- Property type
- Medical offices
- Property subtype
- Office space
Description
This exceptional Bywater property offers a unique blend of commercial and residential space. The offering encompasses two buildings totaling 12,500 square feet of net rentable office space, currently configured with 14 private offices, a large boardroom, full kitchen, laundry facilities, and approximately 800 square feet of double-height warehouse space. The office space will be delivered vacant upon sale. In addition, the property includes four renovated apartment units; two are currently leased, one is owner-occupied, and one is available for sale. All apartments have undergone recent renovations. The property sits on a 7,555 square foot lot and boasts a Class B rating. Built in 2010, the two-story structure is fully sprinklered and benefits from available tax credits for renovations. The HMR-3 zoning (with RDO-1 overlay) allows for a wide range of commercial uses, including office, retail, restaurant, gallery, and medical. This fee-simple ownership opportunity presents a compelling investment for owner-users seeking additional income or investors targeting stable returns in a highly desirable Bywater location, close to numerous popular restaurants and businesses. The asking price is $1,245,000, translating to $99.60 per square foot.
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 Parish
- State
- Louisiana
- Longitude
- -90.046384648737
- Latitude
- 29.963694676544
