401 Decatur StNew Orleans, LA 70130

Property Details for 401 Decatur St

Year built

1850

Lot size

0.07 AC

Property size (Sq ft)

7,560 SF

Property type

Retail space

APN

206101601

APU

206101601

Description

This exceptional mixed-use property, located at 401 Decatur Street and encompassing 505 & 507 Conti Street in the heart of New Orleans' French Quarter, presents a compelling redevelopment opportunity. The three interconnected buildings, totaling 9,424 square feet, boast four stories and elevator service. Built in 1800, the property is zoned VCC-2 and offers a unique blend of retail space and upper-floor apartments. The second floor presents additional retail potential, enhancing the property's versatility. Situated on a prominent corner, this location benefits from high tourist and local foot traffic, making it ideal for a variety of uses. The 400 block of Decatur Street is known for its strong retail presence, including numerous national retailers. This offering includes the sale of 509 Conti Street, creating a significant and cohesive investment opportunity. The asking price is $3,670,000, translating to $389.43 per square foot. This is a rare chance to acquire a dynamic space in a vibrant, high-demand area, with a motivated seller eager to finalize a transaction. The property's visibility and location within the French Quarter ensure a strong return on investment. Don't miss this chance to own a piece of New Orleans history and capitalize on its immense potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,762,348

  6.5%

  $1,626,783

  7%

  $1,510,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,453,242

  Geo Method

  $1,354,350

• Alternative Use

  Use

  Valuation

  Residential

  $1,372,252

  Hospitality

  $1,256,976

  Educational

  $1,045,789

  Medical

  $1,081,755

  Retail

  $1,626,783

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9546

Longitude

-90.065

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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