Historical Redevelopment Opportunity in Central City

Retail-Commercial for Sale
Catylist Listing ID: 30852113
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 3,760 SF
Gross Land Area: 0.13 Acres
Sale Price: $495,000
Unit Price: $131.65 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/26/2023

Overview / Comments

Now available for sale, 2445 First St offers multiple potential redevelopment opportunities, including residential, retail, and multifamily.

This historical property is improved with a classic New Orleans corner store, formerly home to Holzenthal Brother's Grocery downstairs with upstairs used for residential purposes (see Historical Photos). The property was built before 1872.

The property has already undergone structural reinforcement, fire remediation, and plumbing lines completion. It needs electrical wiring and HVAC.

Dual frontage on First St and Freret St.

±5,824 SF lot with ±3,944 SF unimproved.

Potential for historic tax credits.

The HU-RD2 Two-Family Residential District is intended to provide for two-family development on smaller lots in older, densely populated urban sections of the City mixed with detached single family dwellings. This district also allows higher residential densities when a project is providing significant public benefits such as long-term affordable housing. Limited non-residential uses such as places of worship, historic neighborhood commercial establishments, and recreational facilities that are compatible with surrounding residential neighborhoods may be allowed.

• Multiple potential uses – residential, retail, multifamily, etc
• Classic New Orleans corner store, formerly Holzenthal Brother's Grocery
• Structural reinforcement, fire remediation, and plumbing lines complete
• Dual frontage and a ±5,824 SF lot (±3,944 SF unimproved)

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 412301901
Retail Clientele: General, Family, Business, Traveler, Tourist
Airports: Louis Armstrong New Orleans International Airport (MSY)
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1872
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,357 201,021 412,104
Median Age: 36.67 35.75 37.21
Households: 13,577 87,965 173,748


Photograph of Listing Agent

Elizabeth Novit

Elifin Realty Baton Rouge, LA 70801
LACDB Member
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