Contact Broker for rent roll and financial information
Description
Now available for sale, 724 Papworth Ave presents a unique mixed-use property in East Metairie, strategically positioned between Veterans Blvd and I-10. This fully occupied property combines office and residential spaces, producing immediate income.
The office portion includes a larger tenant-occupied area with three offices, a breakroom, an IT room, multiple restrooms, and a warehouse with a roll-up door. Additionally, there's a smaller owner-occupied office with its own restroom, accessible both externally and through the tenant's breakroom.
On the second level, there are 4 residential units, some of which have been recently renovated, while others present a value-add opportunity. The residential units have corresponding storage units and a shared laundry building in the yard behind the complex.
Located in a dynamic area undergoing significant development, such as the brand-new, adjacent Lakeview Self Storage, this property is perfectly situated to capitalize on the influx of commercial and residential activity.
Key amenities nearby include Winn-Dixie, Big Lots!, The Fresh Market, and several popular eateries, ensuring convenience for commercial and residential tenants alike.
The property offers ±5-6 minute access to both I-10 and I-610 and a lot with ±6-7 spaces.
Contact Broker for rent roll and financial information.
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.
