1229 Texas Ave, Shreveport, LA, United States 71101
Asking Price: $288,000
This redevelopment opportunity has been verified with the State of LA as potentially qualifying for Historic Tax Credits (HTCs). The immediately adjacent buildings (1233 & 1239) are being converted into performing arts practice studios. In addition, the building located at the hard corner of Murphy and Texas is being considered for a redevelopment into a food court on the first floor, with corporate offices on the second floor. 1229 Texas Avenue is also 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 or a redevelopment, historic mixed-use redevelopment opportunity with approximately 36,000 gross sf, 27,000 usable sf. 6000 sf mezzanine overlooks the first floor. There is approximately 3,000 sf in the ancillary buildings that could be demolished for additional parking.
Attractive$10.67/usable sf price provides substantial upside, may qualify for historic tax credits. Open floor plan provides flexibility (office, multi-family, retail, event space), ample surface parking available. Rooftop could be converted into usable terrace with downtown views. Original, antique elevator car is not operational. Potential larger redevelopment strategy with adjacent property owners. Zoned D-1CMU (Downtown Commercial Mixed-Use Sub District).
- Total Sq. Ft. - 36000 sq. ft.
- Total Rentable Sq. Ft. - 27000 sq. ft.
- Total Available Sq. Ft. - 36000 sq. ft.
Trent Siskron ( email ) • ReAlta Real Estate Services