Sold

Freret Commercial Strip

5031-41 Freret Street, New Orleans, Orleans 70115

Description

Sold 2020.

 

5033 Freret Street offers 125’ of frontage on bustling Freret Street with a total of 7 commercially zoned units.  The property is home to Good Bird, Liberty Cheesesteaks, Spomenik Supply, The Other Bar, Iacovone kitchen, and two apartments/office spaces on the second floor. The property currently sits at ~84% occupancy, but offers a proforma cap rate of >7.5% at market rents. Ownership operates The Other Bar and would deliver the space as vacant, making this an ideal opportunity for a bar operator to take over an existing operation with significant additional rental income. One of the two upstairs 3 bedroom apartments is utilized as office space, with the other leased to a STR operator with license in place.

The property is in close proximity to a host of destination restaurants, bars, venues, and retailers. Tulane and Loyola Universities are less than a mile away boasting a combined 18,500 students. Sacred Heart, Lusher, and Newman are also less than a mile from this opportunity.

Inquire within for current and proforma financials.

Detail
Zoning
HU-MU
Property Size
5820 SqFt
Property Type
Commercial

Address

Address: 5031-41 Freret Street

City: New Orleans

Parish: Orleans

Zip Code: 70115

Neighborhood: Freret

Contact Agents

Ben Jacobson

1900 Cadiz St., STE A
New Orleans, LA 70115
504.301.1002 ben@benburka.com

Casey Burka

1900 Cadiz St., STE A
New Orleans, LA 70115
504.301.1002 casey@benburka.com

Aaron Kazanoff

1900 Cadiz St., STE A
New Orleans, LA 70115
504.301.1002 aaron@benburka.com

Lindsay McAshan

1900 Cadiz St., STE A
New Orleans, LA 70115
504.301.1002 lindsay@benburka.com

Call or Text

504.301.1002

Our Office

1900 Cadiz Street, Suite A
New Orleans, LA 70115

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Call or Text

504.301.1002

Our Office

1900 Cadiz Street, Suite A
New Orleans, LA 70115

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