The McEnery Company was recently engaged by a private client to complete a comprehensive appraisal of Riverside Market in New Orleans, Louisiana for asset-management purposes. Spanning across 7 acres of commercially zoned land within the Uptown neighborhood, this high-quality retail establishment features over 140,000 square feet rentable area, which is largely occupied by national credit retailers. The scope of this appraisal assignment required the reporting of the as-is market value opinion supported by the sales comparison and income capitalization approaches, a review of current and historical operating performance, lease and rent roll analysis, market rent and vacancy conclusions, cap-rate positioning, and a summary of market conditions affecting near-term risk and value stability.
