Address: 401 St. Joseph Street, New Orleans, Louisiana 70130
Impressive triple-net historic corner office asset for sale in the Warehouse District. This c. 1905 site was once the location for the Gulf Shot Tower Company and later became several meatpacking and cold storage facilities prior to turning into top notch commercial headquarters. Redeveloped in 2017, high quality tenants occupy this Class A low-rise building with both old world charm and functional, innovative, open work space. The top floor is leased to Barefield Workspace Solutions, Inc., a premiere office furniture and supply headquarters and Steelcase distributor. The second floor is leased to WBEC South, the regional non-profit for WBENC that certifies women-owned businesses and its WB Collective, a pro-women owned co-working office suite. This is an excellent corner location opposite of the Woodward Wright Apartments, St. Joseph Lofts, and the Marriott Sonesta ES Suites and is a short walk to the Convention Center, Gallery Row, Lafayette Square Park and many other attractions. Contract parking options available at the adjacent lot fronting on St. Joseph and the Magazine & St. Joseph large lot. The building is serviced by three phase power, is fully sprinkled and has a single-ply 50 mil Durolast Inc system with a 15 yr manufacturer warranty from 2007.
Sale Price: $4,995,000 | $236.26 PSF
Gross Building Area: 21,142 SF
Net Rentable Area: 19,050 SF
Gross Site Size: 7,751 SF
Zoning: CBD-6 Urban Core Neighborhood Mixed-Use District
Lease Details: Both the 3rd and 2nd floors are 10 year leases.
- Rooftop engineered to support a +/- 4,000 sf addition
- 3rd Floor current rate is $22.00 sf triple net; 3 years remaining with escalations to $22.66 sf for years 9-10.
- 2nd Floor current rate $21.60 sf triple net; 5 years remaining with escalations to $23.00 for years 9-10.
- 1st floor 4,614 SF vacant
2023 Net charges average ~$4.00 sf which include tenants electricity, water, waste management, common area maintenance & repairs, taxes and insurance.
*Upon receipt of a signed Non-Disclosure Agreement, sufficient financials, survey, floor plans, etc will be provided. Tenants are not to be disturbed.
For further listing details, or to schedule a showing, please contact agent/owner Mi Mi Montagnet Bankston, CCIM 504-236-2634 or agent Cameron Griffin 504-535-5680.
