2317 N Rampart St - Hospitality FOR SALE


New Orleans, LA 70117
$3,500,000 USD
504-717-3648
2317 N Rampart St, New Orleans, LA for Sale
$3,500,000 USD
Hospitality - FOR SALE
1/24
null | 23.6% Cap Rate

2317 N Rampart St
New Orleans, LA 70117


HIGHLIGHTS

  • Great Investment Opportunity!

OVERVIEW

The McEnery Company is proud to present the Warehouse, a 29-room group-stay lodging property and all FF&E available for sale. This unique offering features an “A” location, steps from the French Quarter, and existing cash flow. There is also an immediate value-add opportunity for repositioning to capture operational upside and increase sleeping capacity. The property is located right off St Claude in the Marigny and features an architecturally unique building composed of an impeccably restored 1914 craftsman-style house that was fully-enclosed inside of a metal clad warehouse in the late 1970s. The conjoined buildings have been assembled together with a 4-plex fronting 1018 Mandeville Street, connected by a tropical rear courtyard and swimming pool. The property is well positioned for high performing REVPAR and is immediately proximate to several of the top performing STRs in the New Orleans Market. The offering is priced at only fraction of replacement cost with owner financing available for acquisition, providing a significant runway for a double-digit cap rate return. An existing condo regime is also already in place for 2317 N Rampart which provides flexibility for future exit strategies.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$196 USD /SF

# OF ROOMS

8

PRICE/ROOM

$437,500 {currency}

CAP RATE

23.6%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Warehouse

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,878 SF

ZONING

3-8W-1-031-22

APN/PARCEL ID

3-8W-1-031-22,3-8W-1-031-26

ASK ABOUT THIS PROPERTY

Gordon McLeodThe McEnery CompanyMore Info
504-717-3648

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Gordon McLeodThe McEnery CompanyMore Info
504-717-3648

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.