6232 Chef Menteur Hwy - Specialty FOR SALE


New Orleans, LA 70126- Viavant-Venetian Isles
$895,000 USD
225-329-8385
6232 Chef Menteur Hwy, New Orleans, LA for Sale
$895,000 USD
Specialty - FOR SALE
1/32
null | Request Cap Rate

6232 Chef Menteur Hwy
New Orleans, LA 70126
Viavant-Venetian Isles


OVERVIEW

The property, located at 6232 Chef Menteur Hwy in New Orleans, LA, boasts a stabilized NOI and significant upside potential through operational efficiencies and rental growth. With strong fundamentals and below-market pricing, this asset provides an attractive entry point for investors seeking a diverse income source. This well-balanced mix of retail, multifamily, and RV park revenue enhances overall stability, ensuring consistent cash flow. Positioned for long-term appreciation, this investment offers a solid return with market-aligned cap rates and opportunities for enhanced profitability through strategic management. Further revenue growth opportunities exist through the installation of individual electric meters at each RV bay, allowing for electricity charges based on usage, which can increase overall operating income. Currently, no marketing or advertising efforts have been implemented, presenting a prime opportunity for SEO, paid advertising, and digital marketing to expand customer reach and drive occupancy rates. A new online reservation system launching soon will further increase visibility and streamline bookings, offering free advertising benefits. Additionally, credit card fees will be passed on to guests starting in November 2024, directly improving profitability and reducing operational expenses. With its prime location, diversified income streams, and significant upside potential, Riverboat Travel Park offers a rare opportunity for investors seeking a high-demand asset positioned for long-term appreciation.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$280 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Riverboat Travel Park

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

C-3

APN/PARCEL ID

3-9W-9-200-08

ASK ABOUT THIS PROPERTY

Steve GreerMarcus & MillichapMore Info
225-329-8385

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Steve GreerMarcus & MillichapMore Info
225-329-8385

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.