Property profile

500 City Park Ave New Orleans, LA 70119

OFF-MARKET
Turn key restaurants
Property ID
US36-0191578
1,421 SF 0.02 ac lot Built 1960
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,800 square foot mixed-use property, located at 500 City Park Avenue in New Orleans, Louisiana, presents a unique investment opportunity. Built in 1970, the building sits on a highly visible corner lot, steps away from City Park, the Canal Street Car line, the Lafitte Greenway, and Delgado Community College. Its convenient location offers unparalleled access to a large and diverse customer base. Previously occupied by Bud's Broiler, the space is ideally suited for a variety of uses, including restaurants (QSR/fast food, convenience store), breweries, coffee shops, or retail establishments. The asking price is $800,000, translating to $285.71 per square foot. The property is currently vacant, allowing for immediate occupancy and customization to suit a buyer's specific needs. The permitted zoning is HU-MU. Buyers are responsible for verifying that the zoning complies with their intended use. Measurements are approximate and should be independently verified. Don't miss this chance to acquire a prime commercial property in a thriving New Orleans neighborhood.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1960
Total area 1,421 SF
Lot 0.02 ac (782 SF)
APN 207212301
UPID US36-0191578

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Architect

Location

500 City Park Ave New Orleans, LA 70119-4325
New Orleans metro Census 5400 NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$505k

Owner & transaction history

since 2022
Last sale
$800,000
3 recorded transactions
2022
$800,000
2018
Price N/A
2010
$220,000

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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