New Orleans, LA 70117
MLS# NO2549648
12141 sqft
Property Description
Value-Add Boutique Hotel | Expansion to 60 Keys Historic Rare opportunity to acquire a turn-key, income-producing 31-room boutique hotel located just steps from the French Quarter, with a clearly defined expansion path across five separate lots of record. Offering includes HDLC-approved plans for expansion and additional identified room conversions, creating significant upside potential and the ability to scale operations. Proposed expansion includes 18 additional rooms on the vacant parking lot (HDLC-approved), 7 additional rooms at 1001 Marigny Street (corner building--may alternatively be used for restaurant or commercial space or sold separately), and 4 additional rooms at 1005-07 Marigny Street, for a total potential of up to 60 rooms. Property zoning and configuration may permit alternative commercial uses, including drug and alcohol rehabilitation or a specialty residential treatment facility, which is a permitted use. Property eligible for historic tax incentives, including Federal Historic Tax Credits (20%) and Louisiana State Historic Tax Credits (25%), representing up to 45% of qualified rehabilitation expenditures, subject to program requirements and approvals. Depreciation provisions under the recently passed Big Beautiful Act may apply to qualifying improvements not eligible for historic tax credits, including specific new construction, interior build-outs, building systems, furnishings, equipment, and site improvements, subject to IRS rules and the buyer's tax situation.
Last Updated: March - 25 - 2026
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