Iconic Uptown New Orleans Restaurant For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30804702
Property Subtypes: Restaurant
Building Size (RSF): 4,293 SF
Gross Building Area: See Agent
Sale Price: $1,725,000 - 1,750,000
Unit Price: $401.82 - 407.64 PSF
Property Use Type: Vacant/Owner-User
Building Name: Upperline Restaurant
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/28/2022

Overview / Comments

Second-generation restaurant with existing fixtures, furniture, and equipment is now for sale. The restaurant is a combination of two properties (1413 Upperline Street and 4836 Pitt Street) and consists of multiple unique dining areas, each with its own intimate setting.

The ground floor features a small bar area, three dining rooms, kitchen, waitstaff area, restrooms, and storage. The second floor has a large office, prep kitchen, a large wine storage room, and a storage area that has potential for future dining room/private event expansion.

Located along the growing Prytania corridor among many thriving food and beverage businesses, this property has been a restaurant under different owners for almost nine decades and currently has a liquor license. It is zoned HU-MU neighborhood mixed-use.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 41055570
Zoning: HU-MU
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Located Between: Prytania St and St Charles Ave
Property Visibility: Excellent
Largest Nearby Street: St Charles
Site Description: Located along the growing Prytania corridor among many thriving food and beverage businesses, this property has been a restaurant under different owners for almost nine decades as operating as the Upperline for almost forty years.
Area Description: Primarily residential, the Uptown area has historically been a convenient location for families, providing an easy commute to the Central Business District and downtown New Orleans. It also has an active student population, as both Tulane and Loyola Universities are included in Uptown. There is still a predominantly commercial concentration on Magazine Street, which attracts both city residents and tourists to shop and dine, while other stores and restaurants can be found scattered throughout Uptown.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Excellent
Year Built: 1937
Parking Type: Surface
Parking Description: Street parking around property

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 30,499 167,518 392,877
Median Age: 36.35 36.4 37.02
Households: 13,864 71,778 163,933

Contact

Photograph of Listing Agent

Michael J Siegel, SIOR

Corporate Realty - Main Office New Orleans, LA 70170-0000
LACDB Member
Photograph of Listing Agent

Scott Graf, CCIM

Corporate Realty - Main Office New Orleans, LA 70170-0000
LACDB Member
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