228 Chartres StNew Orleans, LA 70130

Property Details for 228 Chartres St

Year built

1900

Lot size

0.03 AC

Property size (Sq ft)

4,032 SF

Property type

Investment properties

Property subtype

Live-work space

APN

206101818

APU

206101818

Description

This exceptional mixed-use property, located at 228 Chartres Street in the heart of New Orleans' French Quarter, presents a compelling investment opportunity. The three-story building boasts a total of 4,032 square feet, offering a unique blend of commercial and residential space. The ground floor features attractive commercial retail space, perfectly positioned to capitalize on the high tourist and local foot traffic of this vibrant location. The second and third floors comprise appealing apartments, providing a steady stream of rental income. The property is zoned VCC-2, allowing for a variety of uses and potential redevelopment options. The asking price is $1,299,999, translating to $322.42 per square foot. This represents a significant opportunity to acquire a dynamic property in a high-demand area with considerable upside potential. The building's prime location ensures high visibility and accessibility, making it an ideal investment for both owner-users and investors seeking strong returns. This motivated seller is eager to find the right buyer for this unique and lucrative property. Don't miss this chance to own a piece of New Orleans' rich history and vibrant future.

• CAP approach

  CAP return

  Valuation

  6%

  $639,401

  6.5%

  $590,216

  7%

  $548,058

• Comparable approach

  Method

  Valuation

  Relative Method

  $307,565

  Geo Method

  $286,635

• Alternative Use

  Use

  Valuation

  Residential

  $731,868

  Hospitality

  $670,387

  Educational

  $557,754

  Medical

  $576,936

  Retail

  $867,617

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.954

Longitude

-90.0668

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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