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3300 Gravier St 32,527 SF 100% Leased Office Building New Orleans, LA 70119 $3,600,000 ($110.68/SF) 7.50% Cap Rate
Executive Summary
OPPORTUNITY ZONE PROPERTY: Located in the heart of Mid City, this historic office and warehouse property is leased on a NNN basis to El Guapo Bitters and is now available for sale. The property includes over 30,000 SF of improvements on nearly 1.5 acres of land. The property includes a full buildout complete with functional warehousing/storage/distribution space and like-new office space. The tenant’s lease expires in October 2026, at which point they have a 5-year option to renew. El Guapo Bitters, the Tenant at the site, manufactures, and distributes alcohol-free cocktail bitters, syrups, and mixers from the site, and is currently the all-time winning-est company in the Good Food Award elixir category.
The property is a 7-minute drive from downtown New Orleans and is in close proximity to major transportation arteries I-10 and Jefferson Davis Parkway. Also included are 3 vacant lots across Gravier Street.
The property is a 7-minute drive from downtown New Orleans and is in close proximity to major transportation arteries I-10 and Jefferson Davis Parkway. Also included are 3 vacant lots across Gravier Street.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
32,527 SF
Building Class
B
Year Built
1900
Price
$3,600,000
Price Per SF
$110.68
Cap Rate
7.50%
NOI
$270,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
22,500 SF
Building FAR
0.50
Lot Size
1.50 AC
Opportunity Zone
Yes
Zoning
MU-2
Parking
80 Spaces (2.46 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
- Security System
- Skylights
- High Ceilings
- Shower Facilities
Walk Score®
Very Walkable (79)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 1-05-2-060-08 | Improvements Assessment | $0 |
| Land Assessment | $6,750 | Total Assessment | $6,750 |
Property Taxes
Parcel Number
1-05-2-060-08
Land Assessment
$6,750
Improvements Assessment
$0
Total Assessment
$6,750
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3300 Gravier St
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