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$ 950,000
Est. payment /mo
Active
2231 SAINT CLAUDE AVE New Orleans, LA 70117
5,112 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,112 sqft
Price per Sqft $185
MLS Listing ID 2581444
HOA Y/N No
Year Built 1980
Acres 0.03
Lot Dimensions 56x71
Property Sub-Type Commercial
Source ROAM MLS
Land Area 5112
Property Description
2231 Saint Claude Avenue presents the opportunity to acquire a stabilized, income-producing commercial asset in one of New Orleans' most active entertainment and redevelopment corridors. The property is fully leased to Emporium Arcade Bar under a Triple NNN lease currently in Year 5 of an initial 10-year term, offering investors durable cash flow with limited landlord obligations.The tenant occupies 100% of the building and operates under an active bar and live entertainment permit, creating a highly specialized hospitality asset with significant operational value already in place. Extensive capital improvements and tenant buildout were completed between 2021–2022, substantially modernizing the property and reducing near-term capital expenditure exposure for future ownership.The asset is currently delivering a 6.34% cap rate with built-in rental escalations increasing returns to a projected 7.14% cap rate. This offering is ideally suited for investors seeking a passive, single-tenant net lease asset with an established operator in place and immediate in-place income.Tenant to remain in place. Business operations are not included in the sale.Full 3D virtual tours available
Location
State LA
County Orleans
Area 0.03
Zoning HMC-2
Direction on St Claude Ave and Marigny Street
Interior
Fireplace No
Exterior
Parking Features Off Street
Utilities Available Natural Gas Not Available
Garage No
Building
Lot Description Corner Lot
Water Public
New Construction No
Others
Tax ID 701172231SaintClaudeAV
Virtual Tour https://www.propertypanorama.com/instaview/nom/2288703
Listed by FQR Realtors
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