6.6% Cap Rate /20.% IRR | Single Tenant Creative Office Inv
100% Occupied | For Sale | New Orleans, LA
Marketing description
** 6.6% Cap Rate - 20.8% IRR with PRICE REDUCTION**
CBRE is pleased to present 1240 Camp Street, an ±8,655 SF office building with parking garage, situated in the historic, charming Lower Garden District of New Orleans. The space has been renovated far beyond market standards and offers finishes and amenities that are unparalleled in the market.
This office building is situated three blocks from the Central Business District and boasts a prominent Lower Garden District location at the corner of Camp Street and Thalia Street. Camp Street is a two-way thoroughfare with well-marked, lighted cross walks, a dedicated bike lane, and lushly landscaped grounds. This building sits among examples of quintessential traditional New Orleans residential architecture.
PROPERTY WEBSITE: https://lacdb.resimplifi.com/listings/cc7700af-66-cap-rate-208-irr-8655-sf-single-tenant-creative-office-investment-sale-100-occupied
Investment highlights
- 6.6% Cap Rate, 20.8% IRR - 100% Occupied
- TOTAL SQUARE FEET 8,655
- OFFICE SQUARE FEET 5,455
- GARAGE SQUARE FEET 3,200
- FRONTAGE: Corner of Camp St. and Thalia St.
- Leased to McIlhenny through December 31, 2028
- One (1) three (3) year renewal options remaining through December 31, 2031
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