Listed by Beau Box Commercial Real Estate, Beau Box Commercial Real Estate Baton Rouge
$3,700,000
445 North 3rd Street
Details
APN 001-8592-2
Property Type Retail, Multifamily
Sub Type Executive Office, Apartment Building
Square Footage 62,935
Net Rentable (SqFt) 50,968
Units 19
Price per SqFt $59
Buildings 1
Stories 3
Acreage 0.470
Zoning C5
Retail | 62,935 SqFt
Marketing description
The Kress, Welch-Levy Building dates back to the 1870s, and in 2008, the building underwent a full renovation transforming the property into a mixed-use destination consisting of retail, office, and multifamily spaces.
The Property totals an impressive 62,932 SF (± 50,968 RSF) across 4 floors situated on a 20,614 SF parcel. The building consists of 4 retail spaces on the first floor, a second floor office suite, and 19 multifamily units on floors 2-4. Tenants benefit from a large roof-top deck on the 3rd floor with expansive views of downtown Baton Rouge and the Mississippi River.
The site benefits from its excellent access to Interstate 10 and significant government and commercial presence in the downtown market with over 30,000 daily workers, 140,000 daily visitors, and 10,509 residents.
Investment highlights
- High-Profile Hard Corner Location in the Heart of Downtown Baton Rouge
- Excellent Mixed-Use Asset with Opportunity to Create a Live, Work, Play Destination
- Significant Value-Add Opportunity with Lease Up
- Priced Well Below Replacement Cost
- Opportunity to Convert Second Floor Office to Additional Multifamily or Amenity Space
- Desirable Multifamily Unit Mix
- Large Multifamily Unit Sizes with High-End Finishes
- Long-Term First-Floor Restaurant Tenancy (The Little Village)
- ± 62,935 SF (50,968 SF RSF)
- ± 16,586 SF Retail (4 Suites)
- ± 21,291 SF Multi-Family (19 Units)
- ± 12,691 SF Office (1 Suite)
- Submarket Downtown - Capital Area
- Large roof-top deck on the 3rd floor with expansive views of Downtown Baton Rouge and the Mississippi River
- Significant government and commercial presence in the downtown market with over 30,000 daily workers, 140,000 daily visitors, and 10,509 residents
- No owned parking - parking may be leased through State of LA in adjacent garage
Listing Contacts
Listed by Beau Box Commercial Real Estate, Beau Box Commercial Real Estate Baton Rouge
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