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    521 St Philip St New Orleans, LA 70116

    Sponsored
    For Sale
    $999,000

    Historic French Quarter retail & residential

    Property size:
    1,680 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This unique $999,000 mixed-use commercial condominium, located at 521 St. Philip Street in New Orleans' vibrant French Quarter, offers a compelling owner/user investment opportunity. The 1,680 square foot property boasts a fascinating history as the original location of the "Witch's Workshop," featuring a preserved sacred pentacle. The building comprises 900 square feet of retail space and a 780 square foot residential unit with two bedrooms and one bathroom. The retail space and residential unit were remodeled in 2014 and 2018, respectively. This prime location places the property within easy walking distance of numerous restaurants and shops. The property is zoned VCR-2 (Vieux Carre Residential District), reflecting its unique character and location within the historic French Quarter. This exceptional property presents a rare blend of historical significance, modern updates, and a highly desirable location, making it an ideal investment for a discerning buyer seeking a blend of commercial and residential use in the heart of New Orleans. The property's rich history and prime location offer significant potential for both commercial and residential income generation. This is a truly unique opportunity to own a piece of New Orleans history.

    Property Features for 521 St Philip St

    General Information

    Property type
    Retail properties
    Square Feet
    1,680 SF

    HighLights

    • $999,000 asking price for a mixed‑use retail property.
    • 1,680 square feet, combining 900 SF of retail space and a 780 SF, 2 bed/1 bath residential unit.
    • Located at 521 St. Philip St, New Orleans, LA 70116, in the heart of the French Quarter.
    • VCR‑2 zoning.
    • Remodeled in 2014 (overall) and 2018 (residential unit).
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Food Market Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.0610828
    Latitude
    29.9594694

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    FAQs

    What type of property is this?
    Retail property - Historic French Quarter retail & residential
    Where is this retail property located?
    The property is located at 521 St Philip St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: $999,000 asking price for a mixed-use retail property.; 1,680 square feet, combining 900 SF of retail space and a 780 SF, 2 bed/1 bath residential unit.; Located at 521 St. Philip St, New Orleans, LA 70116, in the heart of the French Quarter.
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    521 St Philip St New Orleans, LA 70116
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    521 St Philip St New Orleans, LA 70116
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