Hotel Development Site For Sale - St Charles Ave

Hospitality for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30801581
Property Subtypes: Hotel, Other
Number of Units: 1 Units
Building Size (RSF): 13,184 SF
Gross Land Area: 9,536 SF
Sale Price: $3,500,000
Unit Price: $3,500,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/1/2023

Overview / Comments

Incredible redevelopment opportunity (existing structure needs to be demolished). This highly visible building is zoned for new hotel development and is ideally located on St. Charles Avenue in the Central Business District of New Orleans. The site offers 64 linear feet of frontage along prominent St. Charles Avenue directly situated on the streetcar line and Mardi Gras parade route. The property is adjacent to the city's most acclaimed restaurants, attractions, venues, museums, and retailers. Easy access is available along St. Charles Ave and Church St.

- Amazing potential for redevelopment in the CBD
- Zoned for new hotel development (CBD-5)
- Previously approved for a 5-story, 96-room hotel
- Easy access via St. Charles Ave and Church St
- Directly on St. Charles Ave, streetcar line, and Mardi Gras parade route

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 41034011
Zoning: CBD-5
Property Located Between: St Charles Ave & Church St
Property Visibility: Excellent
Largest Nearby Street: St Charles Ave
Feet of Frontage: 64
Total Number of Buildings: 1
Number of Stories: 2
Zoning Description: CBD-5: The CBD-5 Urban Core Neighborhood Lower Intensity Mixed-Use District is intended to provide for a downtown neighborhood environment through a mix of housing types and supporting residential services and commercial uses conveniently situated with respect to employment opportunities. The CBD-5 District is intended to accommodate a lower concentration of certain commercial uses than the CBD-6 District, and is particularly suited for the area around Lafayette Square and surrounding areas.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,450 198,506 406,620
Median Age: 37.01 35.7 37.01
Households: 10,117 85,928 170,189
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.