513-515 Milam Street, Shreveport, LA, United States 71101
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Asking Price: $795,000
Historic Tax Credits have been reserved.
513-519 Milam Street have a superb location in the Central Business District of Shreveport. Conveniently located across the street from the Caddo Parish Court House with easy access to I-20 and I-49. It is within walking distance of Shreveport casinos, the Red River Entertainment district, the United States Federal courthouse and the Shreveport Convention Center, along with downtown banks, library, restaurants, and other downtown properties. The proposed project will restore the site to its original character and add uses to the properties. The project will bring suitable changes to the facades making a more walk-able downtown area.
This building is available for state & federal historic tax credits and located within a federal opportunity zone. Phase 1 and Phase 2 of the state historical tax credits application have been completed by the current owner.
This property is in Restoration Tax Abatement (RTA) and current property tax rate will remain frozen until 2026. Construction permits will be issued at NO CHARGE.Architectural plans for 28-32 apartments, bistro, conference/entertainment room, 2-4 Airbnb lofts, 8-12 office spaces, a rooftop feature, and 45+/- storage units are available to the new buyer. Approximately 50% +/- of this cost has already been paid by current owner. Plans for a new structural roof have also been completed.
The buyer has access to tax attorneys, institutional investors, tax credit sellers and other parties who can offer a Non-Recourse loan for the project.
- Total Sq. Ft. - 55,000 sq. ft.
- Total Available Sq. Ft. - 55,000 sq. ft.