401 Decatur StNew Orleans, LA 70130
- Retail properties
- 7,560 SF
Property Details for 401 Decatur St
- Year built
- 1850
- Lot size
- 0.07 AC
- Property size (Sq ft)
- 7,560 SF
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 206101601
- APU
- 206101601
Description
This exceptional mixed-use property, located at 401 Decatur Street and encompassing 505 & 507 Conti Street in the heart of New Orleans' French Quarter, presents a compelling redevelopment opportunity. The three interconnected buildings, totaling 9,424 square feet, boast four stories and elevator service. Built in 1800, the property is zoned VCC-2 and offers a unique blend of retail space and upper-floor apartments. The second floor presents additional retail potential, enhancing the property's versatility. Situated on a prominent corner, this location benefits from high tourist and local foot traffic, making it ideal for a variety of uses. The 400 block of Decatur Street is known for its strong retail presence, including numerous national retailers. This offering includes the sale of 509 Conti Street, creating a significant and cohesive investment opportunity. The asking price is $3,670,000, translating to $389.43 per square foot. This is a rare chance to acquire a dynamic space in a vibrant, high-demand area, with a motivated seller eager to finalize a transaction. The property's visibility and location within the French Quarter ensure a strong return on investment. Don't miss this chance to own a piece of New Orleans history and capitalize on its immense potential.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,762,348
- 6.5%
- $1,626,783
- 7%
- $1,510,584
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,453,242
- Geo Method
- $1,354,350
-
Alternative Use
- Use
- Valuation
- Residential
- $1,372,252
- Hospitality
- $1,256,976
- Educational
- $1,045,789
- Medical
- $1,081,755
- Retail
- $1,626,783
Location Insight
- City
- New Orleans
- County
- Orleans
- State
- Louisiana
- Latitude
- 29.9546
- Longitude
- -90.065
- CBSA code
- 35380
- CBSA name
- NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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