524 GOV NICHOLLS Street New Orleans, LA 70116

General Commercial Residence

Beds

Baths

9,845 Sq. Ft.

0.12 Acre Lot

Property Activity

Time on Site

days

Days on Market

Views

Saves

Last updated on 9/25/2024 2:17 AM

Listing Details

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)** Continue reading

MLS#

2468066

Property Type

General Commercial

Year Built

1852

Square Feet

9,845 sq. ft

Lot Size

0.12