Listed by The Chip Gardner & Herbert Dubuisson Group │Compass
$2,250,000
1051 Annunication Street
Details
APN 102103329
Property Type Retail
Sub Type Restaurant
Square Footage 4,768
Net Rentable (SqFt) 4,768
Units 1
Cap Rate 7.49%
NOI $168,480
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 06/29/2028
Remaining Term 2
Rent Bumps Yes
Lease Options One Five-Year
Class C
Year Built 1882
Buildings 1
Stories 1
Zoning CBD-6
Investment Type Net Lease
Restaurant Condominium Unit
Marketing description
This ground floor restaurant condominium unit is available for purchase within a larger, four-story residential condominium complex known as The Cotton Mill in the Warehouse District of New Orleans. It is currently leased/operating as a bar and restaurant known as Plates (business not for sale). Furniture, Fixtures & Eqipment are included. The interior of the unit boasts an open dining area with a bar and a food running station, along with four private restrooms, a spacious commercial kitchen, stock rooms, and an office. The ceilings in the dining room soar up to 18 feet in height. The property is zoned CBD-6 Urban Core Neighborhood Mixed-Use District.
Listing Contacts
Listed by The Chip Gardner & Herbert Dubuisson Group │Compass
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$168,480.00
$14,040.00/mo
Valuation Metrics
0
DSCR
7.49%
Cap Rate
7.49%
ROI
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