1231 Decatur StNew Orleans, LA 70116

Property Details for 1231 Decatur St

Year built

1820

Lot size

0.01 AC

Property size (Sq ft)

879 SF

Property type

Office properties

APN

208100416

APU

208100416

Description

This exceptional opportunity presents a fee-simple ownership of a thriving 879 square foot collectibles, gifts, jewelry, and antiques store in New Orleans' historic French Quarter. Located at 1231 Decatur Street, within the Paxton House Condominiums, this Class B commercial condominium boasts a strong pro-forma NOI of $71,358. The asking price of $1,015,000 includes the real estate, inventory, fixtures, furniture, and established clientele. Operating since 2001, this well-established business benefits from its prime location in the Vieux Carre Commercial District, attracting a loyal customer base and capitalizing on the city's robust tourism. The VCC-1 zoning ensures flexibility for future uses. This turnkey investment offers a unique blend of historical charm and established business success, making it an ideal opportunity for an owner-user seeking a profitable venture in a vibrant and sought-after location. The property's 879 square feet provide ample space for retail operations, and the included inventory and fixtures allow for immediate commencement of business. This is a rare chance to acquire a piece of New Orleans' rich history and thriving commercial landscape. The property is located in Orleans Parish, Louisiana, zip code 70116.

• CAP approach

  CAP return

  Valuation

  6%

  $139,393

  6.5%

  $128,671

  7%

  $119,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $67,051

  Geo Method

  $62,488

• Alternative Use

  Use

  Valuation

  Residential

  $159,552

  Hospitality

  $146,148

  Educational

  $121,594

  Medical

  $125,776

  Retail

  $189,146

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9614

Longitude

-90.059

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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