524 GOV NICHOLLS ST Active Save Request In-Person Tour Request Virtual Tour
New Orleans,LA 70116
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,894 sqft
Price per Sqft $223
MLS Listing ID 2468066
Year Built 1852
Lot Size 5,227 Sqft
Property Description
INTRODUCING 518 + 524 GOVERNOR NICHOLLS STREET:
This is a phenomenal Historic French Quarter redevelopment opportunity with compelling tax credit potential
(**Part 1 of the State tax credits is approved for both buildings**)
Beautiful 150+ year old brick buildings with a spacious carriageway & extraordinary COURTYARD.
Priced $720K BELOW recently appraised value!
These properties are located just off Decatur Street & back up to the Ursulines Convent (which allows for some incredible views of MS River & downtown NOLA skyline)! Situated on an excellent block that provides convenient access to many of the French Quarter’s world famous dining experiences, entertainment venues, Jackson Square, Frenchman Street & just 1 block from the Historic French Market.
The improvements consist of 12 units situated on 2 separate parcels of record (518 + 524 Gov. Nicholls Street)
Balconies on both the 2nd & 3rd floor units fronting Governor Nicholls St. as well as on the 2nd floor of the rear units overlooking the courtyard. Separately metered utilities.
Further Details:
- Listed below appraised value
- Full set of completed architectural drawings (included w/ sale)
- All VCC violations have been remedied
- Exterior has been repaired including new operable louvered shutters
- Beautiful architectural details throughout
- Part 1 of the State Historic Renovation tax credits are approved
- Construction estimate for complete renovation cost (inquire for details)
**Depending on the Buyer/Developer: Commercial Historic Renovation Tax Credit potential could be a sizable portion of construction costs needed to renovate these buildings (25% State & 20% Federal)**
Location
State LA
County Orleans
Zoning VCR-2
Exterior
Garage None
Building
Lot Description City Lot,Oversized Lot,Rectangular Lot
Dwelling Type Mixed Use,Other
Sewer Public Sewer
Water Public
Others
Special Listing Condition None