1222 Decatur StNew Orleans, LA 70116

Property Details for 1222 Decatur St

Year built

1900

Lot size

0.04 AC

Property size (Sq ft)

5,109 SF

Property type

Investment properties

Property subtype

Live-work space

APN

208100206

APU

208100206

Description

This exceptional 1,550 sq ft retail space at 1222 Decatur Street in Orleans Parish offers unparalleled visibility and foot traffic in the heart of the French Quarter. Located directly adjacent to the French Market, this property benefits from approximately 4,497 daily vehicular counts on Decatur Street, and its proximity to numerous restaurants, shops, a farmer's market, and a flea market ensures high consumer traffic. The space, previously used for retail, is part of a larger 5,698 sq ft building with VCS zoning, allowing for a variety of uses including, but not limited to, single or multi-family residential, office space, art galleries, and restaurants. The landlord is willing to offer rent abatement for tenant improvements to qualified tenants, making this a highly attractive opportunity for businesses seeking a prime location in a vibrant and historic setting. The lease is a Triple Net (NNN) structure. The single suite within the building offers a total of 1,550 square feet of vacant space.

• CAP approach

  CAP return

  Valuation

  6%

  $810,193

  6.5%

  $747,870

  7%

  $694,451

• Comparable approach

  Method

  Valuation

  Relative Method

  $389,719

  Geo Method

  $363,199

• Alternative Use

  Use

  Valuation

  Residential

  $927,359

  Hospitality

  $849,456

  Educational

  $706,738

  Medical

  $731,043

  Retail

  $1,099,369

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.961

Longitude

-90.0587

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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