ALGIERS MEDICAL BUILDING
MINIMUM BID $1,416,000
DON’T MISS THIS ONE!
4420 General Meyer, New Orleans, LA
Bidding September 14th will be held at
2401 Westbend Pkwy, Room 1040, New Orleans, LA
Registration - 10:00 AM | Auction - 11:00 AM
Click Here For 4420 General Meyer Offering Memorandum
NOLA Public Schools will be selling by way of public auction a medical office building located in (Algiers) New Orleans, LA. The 2-story building situated on about 2 acres of land with approximately 29,775 of square feet. The property is in need of renovation. Currently the property is 68% vacant and only has one long term medical tenant. The property needs work, but it is still very attractive. It has situated on almost 2 acres of land. It has a 2-story open atrium with an elevator looking onto the lobby floor. The building currently has one, month to month, tenant that pays $7072.60 per month. This is an excellent add-value opportunity to restore this building to it’s greatness and increase the revenue substantially.
The neighborhood contains a mixture of mostly single-family and some multi-family developments as well as commercial properties located along the major arteries, General Meyer Avenue, West Bank Expressway, Wall Boulevard, Behrman Highway and other major transportation arteries. Commercial properties consist of office buildings, medical office buildings, warehouses, restaurants, service stations, bank branches and retail stores. Residential and multi-family development is primarily situated off the major thoroughfares. There are several developments occurring within the Algiers market. While these developments all remain in their early phases, they are certainly cause for optimism. It appears that the Algiers market may be emerging from this downturn and entering a period of gentrification as this neighborhood becomes one of the primary suburban sub-markets within the Greater New Orleans area.
General Meyer Avenue is the primary transportation artery through Algiers and functions as a major commercial corridor of Algiers. It extends from the Westbank Expressway southwards providing access throughout Algiers. Its northern terminus, the Westbank Expressway, provides access to other areas of the Westbank including Gretna, Harvey, Marrero, and other points west, as well as to the New Orleans CBD and areas on the east bank of the river. General De Gaulle Drive and MacArthur Boulevard functions as a secondary local artery. Other major arteries within the subject property neighborhood include Holiday Drive, Behrman Road, and Woodland Drive.
Land Size: 2 Acres
Zoning: MU-1, Medium Intensity Mixed - Use District