Address: 308 St. Charles Avenue, New Orleans, LA 70130
Located on one of the busiest stretches of St. Charles Avenue in the heart of the CBD, this four (4) story, 8,200 SF historic building features a ground-floor retail unit and three (3) generous apartment units on each of the upper floors. With attractive CBD-1 zoning, the property has significant upside and unrealized rent potential, creating an opportunity for repositioning by increasing the residential density in the upper stories, as well increasing the ground-floor retail rents to market rate.
In addition to repositioning, the building is also a great candidate for conversion into hospitality or office use by leveraging available tax incentives such as Federal and State Historic Tax Credits, as well as capital gains tax deferral by investing in the Qualified Opportunity Zone, all of which will significantly reduce the effective development cost. The property is also located outside the boundaries of local Historic District authority, which creates additional project cost savings.
List Price: $1,950,000 | $237.80 PSF
GBA: +/- 8,200 SF
RSF: +/- 6,075 SF
Site Size: +/- 2,018 SF
Zoning: CBD-1 Core Central Business District
Please contact Parke McEnery 504.236.9542 or Gordon McLeod 504.717.3648 for further listing details.