K&B Plaza 1055 Saint Charles Ave

Faris Lee Investments is pleased to present a premier investment opportunity at 1055 Saint Charles Ave, New Orleans, LA 70130, a property that epitomizes the intersection of historic charm and modern potential. This prime asset, located on the renowned St. Charles Avenue, spans 2.2 acres and includes a 7-story 70,446 RSF office building strategically situated within the CBD-3 Cultural Arts District. This zoning designation supports a dynamic mix of uses, including residential and/or hotel, with retail and restaurant possibilities, making it a versatile development opportunity. The surface parking lot provides additional avenues for synergistic development.
Currently, the office building is operating with a healthy occupancy rate and has historically been leased with office tenants who enjoy the location, amenities and abundant parking, at Class A office rates.

The property boasts exceptional visibility, with ±12,000 vehicles per day (VPD) on St. Charles Avenue, further enhanced by its proximity to the Pontchartrain Expressway (±120,000 VPD) and Carondelet Street (±4,000 VPD). This high-traffic location ensures strong exposure, making it an attractive site for a wide range of potential tenants and developments. During Mardi Gras, Saint Charles Avenue transforms into one of the most vibrant and heavily trafficked areas in New Orleans, with foot traffic surging to well over 100,000 people on peak days. The property’s location along this iconic parade route guarantees unparalleled visibility during one of the world’s most famous cultural celebrations.
The existing office structure and expansive parking lot at 1055 Saint Charles Ave present significant redevelopment potential, offering a rare opportunity for a mixed-use redevelopment that could include residential units, hotel accommodations, retail spaces, and various amenities. This redevelopment aligns with the property’s prime location in the Cultural Arts District, which the city envisions as a vibrant cultural and entertainment hub. Given New Orleans’ tourism industry, which contributes approximately $9 billion annually to the local economy, and the strong demand for diverse commercial spaces, this site is well-positioned to capitalize on the city’s continued growth and revitalization, making it a cornerstone for future neighborhood development.
Moreover, the property is located within an Opportunity Zone, offering investors substantial tax incentives, including deferral of capital gains and potential tax-free appreciation for long-term investments. Additionally, the site has already been designated a historic landmark and is eligible for federal and state historic tax credits, covering up to 45% of renovation costs. The property’s proximity to key cultural landmarks, such as The National WWII Museum, which attracts over 700,000 visitors annually, and The Contemporary Arts Center, further adds to its appeal. It is also near major educational institutions like Tulane University and Loyola University, with a combined student population exceeding 18,000. The surrounding area, including the vibrant Warehouse Arts District, boasts a thriving arts scene, with property values appreciating by an average of 5-7% annually, reflecting its growing popularity and investment potential.
With its strategic location, significant development potential, multiple opportunities on the adjacent site, and attractive financial incentives, 1055 Saint Charles Ave represents a rare and compelling investment opportunity in one of New Orleans’ most iconic and vibrant districts. Whether through the enhancement of the existing structures or a visionary mixed-use redevelopment, this property offers the potential to create a lasting impact on the city’s landscape while delivering strong financial returns for investors.