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    502 Frenchmen St New Orleans, LA 70116

    Sponsored
    For Sale
    $6,750,000

    Historic New Orleans Hotel, Prime Location

    Property size:
    11,456 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 34-room boutique hotel located at 502 Frenchmen Street in the vibrant Marigny District of New Orleans, Louisiana. The property boasts 11,456 square feet across three stories, featuring classic New Orleans architecture, high ceilings, and an ornate façade. Currently zoned HMC-2, this iconic building is ideally suited for adaptive reuse, with the ground floor perfect for a bar, restaurant, or jazz club, and the upper floors approved for a 34-room hotel. Situated on the most popular stretch of Frenchmen Street, renowned for its live music, art galleries, and bustling nightlife, the property benefits from exceptionally high foot traffic and close proximity to the French Quarter. The substantial size of approximately 26,598 square feet offers immense potential for redevelopment and significant returns. Furthermore, the property may qualify for state and federal historic tax credits, offering substantial financial incentives for restoration and renovation. This unique opportunity allows developers to establish a lasting presence within New Orleans' thriving real estate market, capitalizing on Frenchmen Street's unique cultural energy and growing demand. The asking price for this remarkable property is $6,750,000.

    Property Features for 502 Frenchmen St

    General Information

    Property type
    Hotels
    Square Feet
    11,456 SF

    HighLights

    • 34‑room boutique hotel in New Orleans' Marigny District.
    • 11,456 square feet across three stories with classic New Orleans architecture.
    • HMC‑2 zoning, ideal for adaptive reuse (ground floor commercial, upper floors hotel).
    • Prime Frenchmen Street location with high foot traffic and proximity to the French Quarter.
    • Potential for significant redevelopment and historic tax credits.
    • $6,750,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.057666513501
    Latitude
    29.962316248073

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    FAQs

    What type of property is this?
    Hotel - Historic New Orleans Hotel, Prime Location
    Where is this hotel located?
    The property is located at 502 Frenchmen St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: 34-room boutique hotel in New Orleans' Marigny District.; 11,456 square feet across three stories with classic New Orleans architecture.; HMC-2 zoning, ideal for adaptive reuse (ground floor commercial, upper floors hotel).
    Request Owner's contact information
    502 Frenchmen St New Orleans, LA 70116
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    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
    502 Frenchmen St New Orleans, LA 70116
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