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3317 Chartres St New Orleans, LA 70117-6201

Showrooms Google Maps
28,030 SF 1 ac lot Built 1950
Entity Owned Absentee Owner Free & Clear
Estimated value (blended)
$370k
Range $333k – $407k (±10%)
Property ID US36-0064634

Property summary

AI-generated overview

This exceptional Class A creative office building in New Orleans' Bywater neighborhood presents a unique investment opportunity. The property, known as Turn Services Offices, comprises two interconnected buildings totaling 18,464 square feet, situated on a substantial 0.996-acre L-shaped lot. Originally constructed around 1908 as a warehouse and later a molasses cannery, the buildings underwent extensive renovations in 2013, transforming them into a modern office space. The property boasts significant street frontage, with 271 feet along Chartres Street, 201 feet along Desire Street, and 151 feet along Piety Street. The address is 3317-3333 Chartres Street, New Orleans, LA 70117. This prime location offers excellent visibility and accessibility. The building's rich history and modern amenities combine to create a highly desirable workspace. The asking price is $4,950,000. A virtual tour is available online. This is a rare opportunity to acquire a substantial, well-maintained, and historically significant commercial property in a thriving New Orleans neighborhood.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1950
Total area 28,030 SF
Lot 1 ac (43,379 SF)
APN 39W106308
UPID US36-0064634

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.81M
Blend (final) Blend
$370k

Owner & transaction history

Zoning & alternative use

Top alternative use upside
Retail stores $4.2M +69.0%
Office building $3.7M +51.9%
Auto repair, garage $3.3M +33.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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