CBD Retail For Sale

Hospitality for Sale
Catylist Listing ID: 30851817
Property Subtypes: Hotel, Vacation Rental(s)
Number of Units: 14 Units
Building Size (RSF): 8,212 SF
Gross Building Area: See Agent
Gross Land Area: 2,882 SF
Sale Price: $1,850,000
Unit Price: $132,142.86 Per Unit
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/1/2024

Overview / Comments

Very well zoned and well situated hospitality property for sale. Excellent event venue, bar, club and/or restaurant use with the potential for upper floor short-term rental or boutique hotel, in an incredibly well located position just two blocks to the French Quarter.

The building features separate entrances for the ground-level retail space and the upper stories, providing flexibility to accommodate multiple businesses or single-tenant occupancy. The first three (3) stories are elevator serviced. The fourth (4th) level contains a penthouse structure at the rear of the property which leads out to a huge deck spanning all the way to the street. The active rooftop provides exciting city views and endless possibilities.

The price per square foot is well supported at $225 per SF, with entry pricing well below replacement cost. The structure may also be eligible for Federal and State Historic Tax Credits for qualifying renovation costs. Please contact broker for more information on available tax incentives for redevelopment.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 105101703
Zoning: CBD-1
Retail Clientele: General, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Gravier St and Common St
Property Visibility: Excellent
Largest Nearby Street: Canal Street
Feet of Frontage: 265
Number of Stories: 35
Property Condition: Good
Roof Type: Flat
Passenger Elevators: 1
Zoning Description: CBD-1 Core Central Business District
Lot Frontage: 26.5
Lot Depth: 110
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,393 195,914 411,292
Median Age: 39.84 35.74 36.97
Households: 9,428 85,001 172,842

Contact

Photograph of Listing Agent

Gordon McLeod

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
Photograph of Listing Agent

S. Parkerson McEnery

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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