527 Third St, New Orleans, LA 70130

Commercial property for lease

• Description
• This offering presents a unique, potentially mixed use, urban infill development opportunity in the heart of the vibrant Irish Channel neighborhood. The site is the current location of the Building Specialties Company, which has operated in this location since 1947. Building Specialities will move their operations elsewhere post-sale.The six parcel property sits in the area of the Irish Channel bounded by Tchoupitoulas & Magazine Streets, and Washington & Jackson Avenues. It measures approximately 49,473sf; 43,048sf of which is zoned Historic Urban Mixed Use (HU-MU) and the remainder of which (6,425sf) is zoned Historic Urban Two Family Residential (HU-RD2). The site has frontage on Third (164'), Second (268') and Rousseau (100') Streets, and forms the hard corner of Second and Rousseau. It features beautiful, mature trees on the Second Street side of the property. See all photos and attachments for reference. HU-MU zoning has the following bulk & yard regulations (see full text ofzoning, attached):-Minimum lot area per dwelling unit: 1,500sf (single family); 1,200sf (twofamily); 1,000sf (multifamily); 2,000sf (townhouse); 800sf (dwelling aboveground floor); none (non-residential)-Maximum total floor area - commercial use: 5,000sf-Maximum building height: 35' (single family & two family); 40' & no morethan 3 stories (multifamily, townhouse & non-residential)-Minimum permeable open space: 10%There are four structures on the site that would need to be demolished in order to redevelop the property. Approximate total size of the structures is 22,850sf. The site sits in proximity to the shops, boutiques, and restaurants of world famousMagazine Street. It is likewise just a block from Tchoupitoulas Street, a major uptown-downtown thoroughfare that connects to the Pontchartrain Expressway/Crescent City Connection and the Warehouse District/CBD. It is across Rousseau Street from the popular Tchoup Yard venue. TheLouisiana Regional Planning Commission reports average daily traffic of19,372 on Tchoupitoulas between Jackson & Louisiana Avenues in 2012.The property is also near the following proposed and/or underwaydevelopments:-Bakery Village: nearing completion 15 lot single family development at thesite of the former Turnbull Bakery complex (www.bakeryvillagenola.com)-Jackson Oaks: approved mixed-use development (211 residential units +18,000sf of commercial space) at site of former Sara Mayo hospital onJackson Avenue-The Synagogue on Jackson Avenue: completed 12 residential unitdevelopment at Jackson Avenue/Chippewa Street-Josephine Lofts: completed 36 residential unit development at formerAmerican Paint Works building at Jackson Avenue/Josephine Street-Residence Josephine: completed 28 unit condominium development at intersection of St. Thomas & Josephine (https://www.residencejosephine.com/)-proposed high end residential development at Belladoggie building atWashington Avenue/Annunciation StreetA central location, dense surrounding residential neighborhood, significantnearby development activity and lots of nearby amenities make thisdevelopment site attractive for a variety of reasons. Building price details: $3,000,000.
• Contact info
• Jonathan D Shaver

  RE/MAX Commercial Brokers Inc
• Note

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