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Opportunity Zone
Historic City Block For Sale
Mixed Use | 104,141 SF
Listing Contacts
Active
Asking Price: $1,950,000
Address
3200 Canal St, New Orleans, LA 70119
Show on MapDate Added
Nov 2, 2023
Days on Market
597 days
Time Since Last Update
39 days
Details
Marketing Description
Prominently located in the heart of Mid-City, Nestled between City Park and the French Quarter, the Sacred Heart of Jesus Catholic Church campus occupies the entire 3200 block of Canal Street. The 2.25-acre site consists of six (6) historic masonry buildings, the 1923 Sanctuary, Rectory, and several mid-century school buildings, boasting a collective gross square footage in excess of 100,000 square feet. The property is perfectly suited for dense development, which is exceedingly rare in the city-center, and is eligible for the Federal Opportunity Zone Incentive Program, as well as both Federal and State Historic Tax Credit Programs.
The walkable and bikeable neighborhood, right in the middle of New Orleans, provides easy access to the Lafitte Greenway and the Canal streetcar line, as well as I-10, and U.S. 90, affording residents easy commutes with only a 5–10-minute drive to the entire New Orleans MSA. The neighborhood also offers a great quality of life with numerous eclectic restaurants and bars throughout the neighborhood.
The former sanctuary and rectory buildings are immediately available for redevelopment. The former school buildings are currently built-out as an 109 senior housing units completed in 2013, with a long term absolute net lease, which offers a durable annuity with immense upside for future redevelopment, and providing a generational acquisition opportunity for the patient investor.
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Property History
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Listing Contacts
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