5636 Judge Perez Dr Violet, LA 70092-2945
- Retail space
Current Use by Public Records
- Violet Discount Meat Market / Butcher Shop
- Essential Tax Solutions - Violet, LA / Tax Preparation
Property Details for 5636 Judge Perez Dr
- Property type
- Retail space
- APN
- A62200400055
- APU
- A62200400055
Description
This exceptional mixed-use property at 5636 Judge Perez Drive in Violet, Louisiana, presents a compelling investment opportunity. The 9,400 square foot building comprises fourteen units: seven residential units (one-bedroom, one-bathroom) on the second floor and seven commercial units on the ground floor. Three of the ground floor commercial units are currently occupied by a convenience store, generating $3,000 in monthly rent. The building boasts a brand-new roof installed in 2023. Currently, rental rates are below market value, providing significant potential for increased income through strategic rent adjustments. Residential unit rents have already been increased, with some units now renting for $1,147 per month. Market rate for the remaining commercial units is $1,000 per month, with the end cap units commanding $3,000 per month. Ample off-street parking is available for both residents and commercial tenants. This property offers a unique blend of residential and commercial income streams, situated in a convenient location with strong potential for future growth and profitability. The combination of a recently updated roof, below-market rents, and high demand for both residential and commercial space in the area makes this an attractive investment prospect. This property is ready for a new owner to capitalize on its significant upside potential.
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
- Violet
- County
- Saint Bernard
- State
- Louisiana
- Longitude
- -89.8987
- Latitude
- 29.9119
- CBSA code
- 35380
- CBSA name
- NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
