Property profile

512 City Park Ave New Orleans, LA 70119

FOR LEASE
Drive through restaurants
Property ID
US36-0428251
2,800 SF 1 ac lot Built 1980
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 2,800-square-foot retail or restaurant space, situated on a 27,672-square-foot lot at 512 City Park Ave, New Orleans, LA 70119, presents a unique investment opportunity. Previously a Burger King with a drive-thru (conditional use permit), the single-story building offers immense flexibility for various uses, including a quick-serve restaurant, coffee shop, or bank branch. Located in the Park Avenue Place retail center, the property boasts 36 parking spaces and enjoys a high-traffic location directly across from Delgado Community College, a short distance from City Park, and approximately one mile from I-10 access. Its strategic position ensures high visibility and accessibility from major thoroughfares. The property shares the retail center with established businesses like MoPho restaurant and military reserve offices, creating a vibrant and active environment attracting residents, tourists, and students. This is a ready-to-occupy space with significant potential for growth and profitability in a desirable New Orleans submarket (Greater New Orleans). The property features one building with no elevators. Cross street is Orleans Ave.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1980
Total area 2,800 SF
Lot 1 ac (43,560 SF)
APN 207212105
UPID US36-0428251

Cap rate & NOI

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

Location

512 City Park Ave New Orleans, LA 70119
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
$475k

Owner & transaction history

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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More about this property
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