New Construction Hospitality

Hospitality for Sale
Catylist Listing ID: 30868004
Property Subtypes: Hotel, Vacation Rental(s), Other
Number of Units: 9 Units
Building Size (RSF): 12,381 SF
Gross Building Area: See Agent
Sale Price: $4,750,000
Unit Price: $527,777.78 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/9/2024

Overview / Comments

4200 St. Claude presents the sought after hotel licensed insured hospitality platform necessary to successfully navigate the City's short term rental licensing confusion. This three-story asset contains 23 furnished bedrooms with 14.5 baths, washer/dryer in each unit, 6 secure parking spaces (with EV charger installed), as well as an elevator. In addition, the property has an automated Brivo/Yale lock system with automated controls for the HVAC and camera systems, and is also prewired for Wi-Fi. This property is uniquely well positioned for high performing REVPAR, with enclosed parking as a further added enhancement to the model. The driving value here, along with the permitting, is the completely new construction status of the offering. The replacement cost on replicating this asset today, along with the complexity of securing comparably located permitting will ensure limited competition inventory introduction; and strong asset performance. One of the highest grossing STR's in the City is located on St. Claude in the Bywater, and there is no reason this asset cannot compete at the same level. This is a turn-key, permitted investment play with no realistically competitive inventory.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 39W206007
Zoning: HMC-2
Property Located Between: France & Lesseps
Largest Nearby Street: St. Claude Ave.
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Excellent
Year Built: 2023
Total Parking Spaces: 6
Parking Description: 6 off-street covered & gated spaces (Including one EV charging space)
Zoning Description: Historic Marigny/Treme/Bywater Commercial District. Hotel is a permissible use in this zoning.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,671 122,715 336,152
Median Age: 37.87 37.8 35.68
Households: 6,685 54,100 139,377

Contact

Photograph of Listing Agent

S. Parkerson McEnery

The McEnery Company Inc
Mandeville, LA
LACDB Member
Photograph of Listing Agent

Pat Browne III

The McEnery Company Inc
Mandeville, LA
LACDB Member
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