502 Frenchmen StNew Orleans, LA 70116

Property Details for 502 Frenchmen St

Property size (Sq ft)

11,456 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

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.

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9623

Longitude

-90.0577

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