Listing Courtesy of: Cody Stringer - REVE, REALTORS
504-655-5577
$1,990,000
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524 GOV NICHOLLS Street New Orleans, LA 70116
General Commercial
Residence
Beds
Baths
...
Bed/Bath
9,845
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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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)**
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MLS#
2468066
Property Type
General Commercial
Year Built
1852
Square Feet
9,845
sq. ft
Lot Size
0.12
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