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Harvey, IL Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Harvey, Illinois Market population: 21K. Explore income-producing properties with verified cap rates and operating...

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Investment Opportunity in La Grange Park, IL

$1,190,000
La Grange Park Multifamily

This multifamily apartment property located in La Grange Park, IL, presents a compelling investment opportunity for real...

Cap Rate 7.68%
NOI $91,392
Size 5,200 SF

πŸ“Š Average Cap Rate For Harvey LA Properties: 7.68%

πŸ“Š Avg Property Tax Rate For Harvey LA Properties: 0.7000%

πŸ“Š Average Income For Harvey LA Commercial Property: $39,602

Investor Questions For Harvey LA

Common questions from investors exploring commercial real estate in Harvey LA.

What is the overall investment potential of Harvey, LA, considering its demographic and economic factors? +
The city's median household income of $39,602, combined with a poverty rate of 22.1% and a health insurance coverage of 85.1%, suggests a relatively stable market with a mix of working-class and middle-class residents. The top industries, including Information, Finance & Insurance, and Manufacturing, contribute to a diverse economy, while the median property value of $147,000 and median property taxes of $4,433 indicate a relatively affordable housing market. Additionally, the average commute time of 25.7 minutes and top commute methods, such as driving alone and carpooling, suggest a convenient location for residents.
How does the ethnic diversity of Harvey, LA, impact the local real estate market? +
The city's ethnic diversity, with top ethnicities including Black (31.5%), White (25.5%), and White Non-Hispanic (22.3%), contributes to a vibrant and inclusive community, which can attract a wide range of residents and businesses. This diversity, combined with a relatively high homeownership rate of 53.6% and a median age of 34.6, suggests a stable and family-friendly environment, making it an attractive location for real estate investment. Furthermore, the employed population of 9,696 and top industries, such as Finance & Insurance and Manufacturing, provide a strong foundation for the local economy.
What are the implications of the poverty rate and health insurance coverage on the quality of tenants in Harvey, LA? +
The poverty rate of 22.1% in Harvey, LA, is a concern, but the health insurance coverage of 85.1% suggests that many residents have access to employment and healthcare benefits, which can contribute to a more stable tenant base. Additionally, the median household income of $39,602 and the average commute time of 25.7 minutes indicate that many residents have a relatively stable income and are able to commute to work, making them more reliable tenants. However, the GINI coefficient of 0.493, which indicates a moderate level of income inequality, suggests that investors should be cautious when selecting properties and tenants.
How does the commute time and transportation infrastructure impact the desirability of Harvey, LA, as a location for real estate investment? +
The average commute time of 25.7 minutes in Harvey, LA, is relatively short, and the top commute methods, such as driving alone and carpooling, suggest that residents have convenient access to transportation. This, combined with the median property value of $147,000 and median property taxes of $4,433, makes Harvey, LA, an attractive location for real estate investment, particularly for properties located near major transportation hubs or employment centers. Additionally, the employed population of 9,696 and top industries, such as Information and Finance & Insurance, provide a strong foundation for the local economy and suggest a high demand for housing and commercial properties.
What are the potential risks and opportunities for real estate investors in Harvey, LA, considering the local economy and demographic trends? +
The potential risks for real estate investors in Harvey, LA, include the poverty rate of 22.1% and the moderate level of income inequality, as indicated by the GINI coefficient of 0.493. However, the city's diverse economy, with top industries including Information, Finance & Insurance, and Manufacturing, provides a strong foundation for growth and development. Additionally, the relatively affordable housing market, with a median property value of $147,000, and the high health insurance coverage of 85.1%, suggest opportunities for investors to capitalize on the demand for housing and commercial properties, particularly in areas with convenient access to transportation and employment centers.

Harvey LA Real Estate & City Facts

Key facts and real estate information about Harvey LA.

What are some of the best neighborhoods to live in Harvey? +
Some of the best neighborhoods to live in Harvey include Harvey Canal, which is known for its clean surroundings and mature vibe, and Justin Ln, which is a peaceful and family-friendly neighborhood. Other desirable areas tend to be in the northwest parts of the city, while more affordable homes are in the northeast regions.
What are some fun things to do in Harvey? +
There are plenty of fun things to do in Harvey, including visiting the Boomtown Casino New Orleans, exploring the Harvey Playground, and shopping at Target Store Harvey or Ross Dress for Less. You can also check out the nearby attractions in New Orleans, such as Canal Street, Bourbon Street, and the National World War II Museum.
What is the food scene like in Harvey? +
The food scene in Harvey is diverse and delicious, with plenty of options to choose from. Some popular restaurants include New Orleans Food & Spirits, New Orleans Hamburger and Seafood Co., Perino's Boiling Pot, and Texas Roadhouse. You can also find great Korean food at Brown Butter Depot or try some hip new restaurants like The Library.
What are the pros and cons of living in Harvey? +
The pros of living in Harvey include its quieter and more suburban atmosphere compared to New Orleans, while still being close enough to enjoy the city's nightlife and attractions. However, some cons include the city's working-class reputation and higher poverty rate. Additionally, traffic and commute times can be a challenge, but overall, Harvey offers a unique blend of small-town charm and big-city amenities.
Is Harvey a good place to live? +
Harvey can be a good place to live for those who value a more suburban lifestyle with easy access to New Orleans. While it has its challenges, the city also offers a strong sense of community, affordable housing options, and a growing food and entertainment scene. Ultimately, whether Harvey is a good place to live depends on your individual preferences and priorities.
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