16500 Chef Menteur Hwy

Office: General

16500 Chef Menteur Hwy, New OrleansLA 70129

Property Details

Location

Address
16500 Chef Menteur Hwy, New OrleansLA 70129
County
Orleans Parish
Submarket
Northshore / N.O. East
Parcels
41221205
In Opportunity Zone
Yes

Building Size

Building Size
27,976 SF
Rentable Space
15,000 SF

Building Details

Type
 Office: General
Number of Buildings
1
Occupancy Type
Single Tenant
Percent Occupied
100%
Building Class
B
Building Status
Existing
Floors
2
Year Built
LEED Level
0
Sprinklers
Primary Const.
Brick
Parking Ratio

Land & Utilities

Land (Acres)
0.68 Acres
Land (SF)
29,798 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
Lot Depth
Lot Width

Contacts

Current Listings

Medium-Size Warehouse former bottling facility

13,640 SF$800,000
KW Commercial 889-9898

OVERVIEW

This property is located in an Opportunity Zone, which means it's ideal for either domestic investors or international E2, L1, or EB5 investors. The seller is VERY MOTIVATED to sell the real estate, trademark, and equipment either as a package or separately. Listing Agent is SFR Certified, so it is the agent's professional opinion that this is the opportune time to get a good deal from the bank on the real estate. This is of particular significance with it being in an Opportunity Zone.

Price does NOT include the following:

Trademark (Ashanti) has been registered since 1995. Seller is willing to include recipes, nutrition labels, and image copyrights for the value of the trademark.

Seller is also willing to be hired to train a replacement, rehire former key employees, and reacquire old and new contracts.

HISTORY & ECONOMY

Bridge Foods, Inc., was in full operations since 1995, reaching maximum capacity of about $4MM per year. In 2007, they were at about $2.5MM with a steady decline to about $500k in 2018. After Katrina and perhaps exacerbated by the economic crisis of 2008, revenues likely declined for 2 main reasons. First, the hot sauce industry got squeezed with large manufacturers beginning copacking for medium size businesses and smaller businesses going out of business or copacking for themselves in smaller batches. Second, the owner slowly lost interest in the business and has since began pursuing other opportunities.

TRADEMARK

The ASHANTI trademark is a large part of the value. With a registered trademark since 1995, the Ashanti Foods brand is well known. The business, Bridge Foods, has also won several local awards including from the Mayor of New Orleans and Harrah's Casino (awards which are also important to the EB5 application process, if desired)

WEBSITE

Website: the website is down on purpose. This business is winding down operations, and it does not want phone calls on a regular basis.

INVENTORY

Inventory is noted as having $0 value. However, it does have some value, but the Seller will not try to place a value on it. It is considered a bonus to a buyer.

FACILITIES

Offc SqFt: 3,948

Lot Size: 100 X 300 = 30,000 sqft

Lot Desc: Regular

Building Size 60x250 = 15,000 sqft

Reception area, several offices, conference room, full kitchen, 3 baths, 2 floors, lots of storage space. Huge warehouse with very HIGH ceiling. A room for silos, a room for bottling, 2 freezers, one in the warehouse and another in the back (perfect for fish).

VIDEO

Short video showing bottling line

https://youtu.be/wi5HDL73b1A

KEY ATTRIBUTES

The most attractive attributes are

1. Trademark since 1995

2. Distressed property on which you can get a good deal

3. Valued at $1.2mm, making it possible for 2 EB5 visas

4. Strong population of Vietnamese and Hondurans lives nearby supporting the minimum of 10 employees for EB5 visas

5. Beautiful homes overlooking lakes

RELEVANT TAX PROGRAMS via nolaba.org

QUALITY JOBS

INDUSTRIAL TAX EXEMPTION

FEDERAL OPPORTUNITY ZONES

ENTERPRISE ZONE

ANGEL INVESTOR TAX CREDIT

LED FASTSTART®

KW Commercial 889-9898

OVERVIEW

This property is located in an Opportunity Zone, which means it's ideal for either domestic investors or international E2, L1, or EB5 investors. The seller is VERY MOTIVATED to sell the real estate, trademark, and equipment either as a package or separately. Listing Agent is SFR Certified, so it is the agent's professional opinion that this is the opportune time to get a good deal from the bank on the real estate. This is of particular significance with it being in an Opportunity Zone.

Price does NOT include the following:

Trademark (Ashanti) has been registered since 1995. Seller is willing to include recipes, nutrition labels, and image copyrights for the value of the trademark.

Seller is also willing to be hired to train a replacement, rehire former key employees, and reacquire old and new contracts.

HISTORY & ECONOMY

Bridge Foods, Inc., was in full operations since 1995, reaching maximum capacity of about $4MM per year. In 2007, they were at about $2.5MM with a steady decline to about $500k in 2018. After Katrina and perhaps exacerbated by the economic crisis of 2008, revenues likely declined for 2 main reasons. First, the hot sauce industry got squeezed with large manufacturers beginning copacking for medium size businesses and smaller businesses going out of business or copacking for themselves in smaller batches. Second, the owner slowly lost interest in the business and has since began pursuing other opportunities.

TRADEMARK

The ASHANTI trademark is a large part of the value. With a registered trademark since 1995, the Ashanti Foods brand is well known. The business, Bridge Foods, has also won several local awards including from the Mayor of New Orleans and Harrah's Casino (awards which are also important to the EB5 application process, if desired)

WEBSITE

Website: the website is down on purpose. This business is winding down operations, and it does not want phone calls on a regular basis.

INVENTORY

Inventory is noted as having $0 value. However, it does have some value, but the Seller will not try to place a value on it. It is considered a bonus to a buyer.

FACILITIES

Offc SqFt: 3,948

Lot Size: 100 X 300 = 30,000 sqft

Lot Desc: Regular

Building Size 60x250 = 15,000 sqft

Reception area, several offices, conference room, full kitchen, 3 baths, 2 floors, lots of storage space. Huge warehouse with very HIGH ceiling. A room for silos, a room for bottling, 2 freezers, one in the warehouse and another in the back (perfect for fish).

VIDEO

Short video showing bottling line

https://youtu.be/wi5HDL73b1A

KEY ATTRIBUTES

The most attractive attributes are

1. Trademark since 1995

2. Distressed property on which you can get a good deal

3. Valued at $1.2mm, making it possible for 2 EB5 visas

4. Strong population of Vietnamese and Hondurans lives nearby supporting the minimum of 10 employees for EB5 visas

5. Beautiful homes overlooking lakes

RELEVANT TAX PROGRAMS via nolaba.org

QUALITY JOBS

INDUSTRIAL TAX EXEMPTION

FEDERAL OPPORTUNITY ZONES

ENTERPRISE ZONE

ANGEL INVESTOR TAX CREDIT

LED FASTSTART®

View Details
View Details

Medium size warehouse former bottling facility

13,640 SF $4,000 - $8,000 Monthly
KW Commercial 889-9898
KW Commercial 889-9898
View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: LACDB

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