Current Use by Public Records
- Hospitality properties
Property Details for 502 Frenchmen St
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans
- State
- Louisiana
- Longitude
- -90.0577
- Latitude
- 29.9623
