223 Peters St New Orleans, LA 70130

Property Details for 223 Peters St

Property size

1,449 SF

Property type

Commercial real estate

Description

This exceptional 1,449-square-foot restaurant space in New Orleans' iconic French Quarter is available for purchase at $975,000. Located at 223 N Peters St, this single-unit commercial condo boasts a prime location within blocks of world-class dining, shopping, entertainment, and major attractions like Canal Street, the House of Blues, Caesars Casino, and the Riverfront. The property benefits from high foot traffic and is situated in a building with a well-managed HOA, covering water, sewer, trash, termite contract, building maintenance, property insurance, elevator, and sprinkler system maintenance. The space itself features large display windows, expansive retail floor space, a substantial storage room/office, and a bathroom. A large rear garage door on Clinton Street provides convenient delivery access. Built around 1834 and completely renovated in 2005, this Greek Revival building offers updated electrical, plumbing, and HVAC systems, along with concrete floors, brick accent walls, and a sprinkler and alarm system. The restaurant has a dedicated entrance separate from the building's five residential condos. A long-term tenant, in business for 16 years, currently occupies the space with a lease extending through December, and a potential four-year renewal option. The tenant pays $5,500 monthly rent, plus condo fees and property taxes. This is a rare opportunity to own a thriving restaurant in one of America's most vibrant and visited cities. The property is a Net Lease (NNN) property.