1239 Texas Avenue, Shreveport, LA, United States 71101
Asking Price: $420,000
This redevelopment opportunity has been verified with the State of Louisiana as potentially qualifying for Historic Tax Credits (HTCs). 1229 Texas Avenue (separately listed) may also potentially qualify for HTCs which provides upwards of 50,000 sf for redevelopment. In addition, both 1229 and 1239 Texas Avenue are located in a qualified census tract for New Market Tax Credits (NMTCs). Layering the potential capital stack with HTCs and NMTCs provides significant, below market capital for a redevelopment. Approximately 28,000 sf mixed use redevelopment opportunity. Subject property is comprised of two historic buildings. Buildings are connected by breezeways on lower and upper levels. Attractive $15.00/SF price provides substantial upside. Purchase 1229 Texas Avenue at $11.11/sf for an additional approximately 279,000 sf. Reopen a sealed breezeway b/w 1229 & 1239 to connect all three buildings. 1229 & 1239 Texas Avenue.
Open floor plan provides flexibility (office/multi-family/retail/event space). Ample surface parking wraps around all three buildings. Rooftops could be converted into usable terraces w/downtown views. Original, antique elevator cars – one is still operational. Freight elevator shaft is rare for this vintage (needs new elevator). Potential for an even larger redevelopment with adjacent property owners. Zoned D-1CMU (Downtown Commercial Mixed Use Sub District)
- Total Sq. Ft. - 28,000 sq. ft.