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$ 1,990,000
524 GOV NICHOLLS ST New Orleans, LA 70116
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$ 1,990,000
Est. payment /mo
Listed By Rêve
Active
524 GOV NICHOLLS ST New Orleans, LA 70116
8,894 SqFt
UPDATED:
09/30/2024 05:22 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,894 sqft
Price per Sqft $223
MLS Listing ID 2468066
HOA Y/N No
Year Built 1852
Lot Size 5,227 Sqft
Acres 0.12
Property Description
INTRODUCING 518 + 524 GOVERNOR NICHOLLS STREET:
This is a phenomenal Historic French Quarter redevelopment opportunity with compelling tax credit potential
(**Part 1 of the State tax credits is approved for both buildings**)
Beautiful 150+ year old brick buildings with a spacious carriageway & extraordinary COURTYARD.
Priced $720K BELOW recently appraised value!
These properties are located just off Decatur Street & back up to the Ursulines Convent (which allows for some incredible views of MS River & downtown NOLA skyline)! Situated on an excellent block that provides convenient access to many of the French Quarter’s world famous dining experiences, entertainment venues, Jackson Square, Frenchman Street & just 1 block from the Historic French Market.
The improvements consist of 12 units situated on 2 separate parcels of record (518 + 524 Gov. Nicholls Street)
Balconies on both the 2nd & 3rd floor units fronting Governor Nicholls St. as well as on the 2nd floor of the rear units overlooking the courtyard. Separately metered utilities.
Further Details:
- Listed below appraised value
- Full set of completed architectural drawings (included w/ sale)
- All VCC violations have been remedied
- Exterior has been repaired including new operable louvered shutters
- Beautiful architectural details throughout
- Part 1 of the State Historic Renovation tax credits are approved
- Construction estimate for complete renovation cost (inquire for details)
**Depending on the Buyer/Developer: Commercial Historic Renovation Tax Credit potential could be a sizable portion of construction costs needed to renovate these buildings (25% State & 20% Federal)**
This is a phenomenal Historic French Quarter redevelopment opportunity with compelling tax credit potential
(**Part 1 of the State tax credits is approved for both buildings**)
Beautiful 150+ year old brick buildings with a spacious carriageway & extraordinary COURTYARD.
Priced $720K BELOW recently appraised value!
These properties are located just off Decatur Street & back up to the Ursulines Convent (which allows for some incredible views of MS River & downtown NOLA skyline)! Situated on an excellent block that provides convenient access to many of the French Quarter’s world famous dining experiences, entertainment venues, Jackson Square, Frenchman Street & just 1 block from the Historic French Market.
The improvements consist of 12 units situated on 2 separate parcels of record (518 + 524 Gov. Nicholls Street)
Balconies on both the 2nd & 3rd floor units fronting Governor Nicholls St. as well as on the 2nd floor of the rear units overlooking the courtyard. Separately metered utilities.
Further Details:
- Listed below appraised value
- Full set of completed architectural drawings (included w/ sale)
- All VCC violations have been remedied
- Exterior has been repaired including new operable louvered shutters
- Beautiful architectural details throughout
- Part 1 of the State Historic Renovation tax credits are approved
- Construction estimate for complete renovation cost (inquire for details)
**Depending on the Buyer/Developer: Commercial Historic Renovation Tax Credit potential could be a sizable portion of construction costs needed to renovate these buildings (25% State & 20% Federal)**
Location
State LA
County Orleans
Zoning VCR-2
Interior
Fireplace No
Exterior
Garage None
Water Access Desc Public
Building
Lot Description City Lot, Oversized Lot, Rectangular Lot
Dwelling Type Mixed Use,Other
Sewer Public Sewer
Water Public
Others
Tax ID 518&524-GOVNICHOLLSST
Special Listing Condition None
Listed by REVE, REALTORS
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