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New Orleans Commercial Real Estate

5746-48-50 Hayne Blvd – Great Business Opportunity!

This neighborhood institution is a great opportunity for someone who would like a turn-key investment property and bar and grill business. The rents from four of the tenants bring in around $37,000/yr, and the Sunset Bar & Grill could be leased for additional income or operated by a new owner of the property. The Sunset Grill business is included in the sales price (and is fully stocked, has all working appliances, an ATM and video poker [60/30]).  The Treasure Isle Tavern is a net lease that currently pays $1,572/mo has one year left on the base term and has options with escalations up to 144 months.  Upstairs there are three apartments which are totally furnished down to the dishes and silverware.  Apartment A is split into two units – an efficiency ($500) and a 1,000 sf two bedroom unit ($500).  Apartment B is 1,500 sf and rents for $1,000/mo. The property is 11’ above sea level, has an 18” concrete slab, and is largely a metal building.  See below for inventory of FF&E and financial summary.  There is only one water meter and one tankless water heater for the entire building.  Both downstairs bars open to a back yard that has high walls, tables, umbrellas, and chairs, and has a place for a stage to feature live entertainment.  The Sunset Grill and Apartment A have recently added solar power grids to greatly reduce utility bills.  Original art murals on the first floor are from local artist Rainwebb.  The Sunset side has two HVACs of 8 and 5 tons each. Taxes for 2017 were $7,442, and insurance was $7,801.

The multi million dollar restoration of Lakefront Airport and the opening of Tipitina’s nearby each demonstrate the recent revitalization of the area!

 Sorry, I couldn’t get videos of the apartments upstairs.

button100x23 5746-48-50 Hayne Blvd - Great Business Opportunity!

110 Ridgelake Drive, Metairie Office Space

Although zoned C-1 now, this quaint 1,280 sf office building once was a home.  The front porch is now a reception area, the LR and DR are now workrooms and conference, the bedrooms are now offices with custom woodwork.  The kitchen and bath have the old style B&W tile of the 1940’s, and most of the floors are wooden.  There is a large attic.  There is a long driveway to an empty garage.  There is a nice little back yard with a patio slab.  The building is in good repair and has been mostly repainted.  Current tenant of 13 years is only leaving because owner won’t sell to him.  Great Old Metairie location. 

button100x23 110 Ridgelake Drive, Metairie Office Space