Below land value in Faubourg Marigny area

Vacant Land for Sale
Catylist Listing ID: 30820720
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Self Storage, Other
Building Status: Proposed
Gross Land Area: 19,557 SF
Sale Price: $999,000
Unit Price: $51.08 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/7/2024

Overview / Comments

There are many allowed land uses from retail, hotel, medical/dental clinic, micro-brewery, office, public market, hospitality center, social club, housing, just to name a few. I have had a lot of interest from retailers and restaurants that would like to lease the ground floor if the building was put back into commerce.
The land could be divided into five separate lots.
Any use other than housing larger than 10,000 would need to apply for Conditional Use.
The current owner has architect plans for affordable housing which have been approved by the Historic District Landmarks Commission. Most of the Due Diligence work has been done and you would only need to finish the construction documents for permitting.
Upon request, I can send additional information that a potential developer. will find helpful. The files are large and I may need to send them in separate emails.
As a bonus, the vacant lot next door at 2608 St. Claude which measures 29X100 is included in the sale.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41069206
Zoning: HMC-2
Property Located Between: Franklin, Port, Rampart
Legal Description: 2600 St. Claude Sq 367 St. Claude and Franklin 2 Lots 1 (28X100) 2 (29X100) OR 24-25. 1031 Franklin Sq 367 LOT 27-28 Franklin 28x130 each 2608 St. Claude Sq. 367 Lot 3 OR 23 St. Claude 29X100
Zoning Description: The property is zoned for housing any proposed use 10,000 SF or larger needs a Conditional Use.,

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,464 149,421 367,040
Median Age: 39.26 37.08 35.89
Households: 12,279 64,746 153,629

Contact

Photograph of Listing Agent

Zella V May

Z Group, LLC New Orleans, LA 70117
LACDB Member
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