1224 Decatur StNew Orleans, LA 70116

This exceptional Class A mixed-use building in New Orleans' French Quarter presents a unique investment opportunity. The three-story, 5,109 square foot property boasts 1,277 square feet of ground-floor commercial space, currently fully leased to Crescent City Conjure, and two 3-bedroom, 2-bathroom residential units, each with balconies. Completely renovated between 2014 and 2015, the building enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $87,301 and a 6.72% cap rate. Situated on a prime commercial strip just three blocks from Bourbon Street, this property benefits from its proximity to major tourist attractions and a vibrant, high-income demographic. The asking price is $1,300,000, representing a price per square foot of $254.45, well below replacement cost. The property is offered fee simple and is part of a tight submarket with only 3% vacancy. Two similar mixed-use properties are also available nearby. This is an irreplaceable piece of real estate in a highly coveted location.