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Opportunity Zone
619 & 631 Milam St in Downtown Shreveport w Parking FOR SALE
Can Be Redeveloped as Live & Work Space
Listing Contacts
License: LA LA BROK.995717623-ASA
License: AR PB00060042, TX 478017, LA Louisiana 3699
Active
Asking Price: $2,350,000
Address
631 Milam St, Shreveport, LA 71101
Show on MapDate Added
Jul 14, 2021
Days on Market
1347 days
Time Since Last Update
62 days
Details
Property TypeMixed Use, Office
SubtypeCreative Office
Investment TypeStabilized
Investment Sub TypeLeased Investment
ClassA
Lease TypeGross
TenancyMulti
Square Footage49,242
Price/Sq Ft$47.72
Cap Rate7.00%
Occupancy50%
Year Built1900
Year Renovated2021
Buildings2
Stories3
ZoningCBD
Lot Size (sq ft)0.5
Broker Co-OpYes
APN181437177000100
Marketing Description
Both Properties qualify for Historic Tax Credits, Property Tax Abatement and Cost Segragation
631 Milam Street - 18,996 sq. ft. multi-tenant office building. 50% occupancy.Ideal for owner occupant with investment income. Also
potential for residential conversion live/work space.
Two historic buildings built in 1900 & 1901, renovated
together in the mid 1980’s into one office building. Well
maintained with new roof, exterior brick mortar cleaned and
repointed, stucco reworked and painted in 2019. Updated
interior finishes. Multiple split system HVAC.
15 parking spaces in rear lot with additional 36 in lot across
the street corner Louisiana and Crockett.
619 Milam Historic mid century building. Goldrings Department
Store. Ideal for Federal & State Historic Tax Credit
redevelopment. Also within the Federal Opportunity
Zone. 30,246 total square feet. First floor 11,565 sq. ft.
Second floor mezzanine 6475 sq. ft. Basement 5,887
sq. ft. storage plus 6,228 sq. ft. office space. Milam
Street entrance to basement. Grade level alley entrance
with overhead door.
Investment Highlights
- Ideal for Downtown Shreveport Lofts Developer
- Purchase Includes 51 Parking spaces
- Located in downtown Shreveport's residential, arts and restaurant district.
- Very walkable with very popular Rhino Coffee one block North along with several popular restaurants and theaters.
- Both Properties quality for historic tax credits, property tax abatement and cost segregation
Valuation Calculator
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Property History
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Due Diligence
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Listing Contacts
- License: LA LA BROK.995717623-ASA
- License: AR PB00060042, TX 478017, LA Louisiana 3699
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Broker Information
Broker Information
Broker Name
Chris Stokes
Broker License
LA LA BROK.995717623-ASA
Broker Name
Ben Walker
Broker License
LA Louisiana 3699
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