706 Phosphor Ave Metairie, LA 70005

Property Details for 706 Phosphor Ave

Lot size

0.23 lot acres

Property size

4,442 SF

Property type

Commercial real estate

APN

0820037445I1

Description

This exceptional investment opportunity presents a fully occupied, two-unit commercial building situated at 706 Phosphor Avenue in Metairie, Louisiana. The property encompasses 4,442 square feet on a 0.23-acre lot, boasting a desirable C-1 zoning classification. Currently housing a cryo day spa and a long-term karate studio, the building offers a diverse tenant mix. Each of the two units is currently on a month-to-month lease, providing flexibility for the new owner. However, the tenants have expressed willingness to negotiate longer-term leases, ensuring continued income stability. The property features ample off-street parking, a significant advantage in this high-traffic area. Recent improvements include a new roof, adding to the property's value and reducing immediate maintenance concerns. Furthermore, the building is located in an X flood zone, minimizing flood risk. Priced at $735,000, or $73.18 per square foot, this property presents a compelling investment opportunity for both owner-users seeking a prime location and investors looking for a stable, value-add asset in a thriving Metairie market. The property's APN is 0820037445I1. This single-story building offers significant potential for long-term growth and return on investment.

Location Insight

City

Metairie

County

Jefferson Parish

State

Louisiana

Longitude

-90.1395074

Latitude

30.0000775