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$ 249,000
Est. payment /mo
New
1005-07 MARIGNY ST New Orleans, LA 70117
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2575662
HOA Y/N No
Year Built 1850
Property Description
Adjacent to 1001 Marigny and available separately or as a package. This 1,400 square foot double sits mid-block in the heart of the Faubourg Marigny, steps from the Elysian Fields and St. Claude corridor and across from Robért Fresh Market. Walkable to the French Quarter, Frenchmen Street, and Bywater. The property currently operates as two suites with the Historic Mardi Gras Inn as a two-unit double, producing income today with lodging infrastructure already in place. Two clear paths to increase both square footage and guest appeal:
Rear reconfiguration. Relocating the rear bathrooms opens up the back of the lot for a private pool and courtyard — a meaningful amenity upgrade in a submarket where outdoor space is scarce and commands a premium.
Camelback addition. A rear camelback would substantially increase conditioned square footage while following a building form native to the neighborhood — the traditional New Orleans approach to adding space without altering the street-facing elevation.
Together these moves reposition a modest double into a materially larger, amenity-driven asset. Zoned HMC-2 (Historic Marigny/Tremé/Bywater Commercial District). Buyer to independently verify all zoning, permitting, entitlement, and incentive matters.
Zoned HMC-2 (Historic Marigny/Tremé/Bywater Commercial District). Rehabilitation of the existing structure may qualify for the 20% Federal and 25% Louisiana State Historic Rehabilitation Tax Credits on certified qualified rehabilitation expenditures, subject to certification. Site improvements and shorter-life assets identified through cost segregation may separately be eligible for 100% first-year bonus depreciation under the One Big Beautiful Bill Act. All entitlement and incentive eligibility to be independently verified by buyer and its tax advisors.
Rear reconfiguration. Relocating the rear bathrooms opens up the back of the lot for a private pool and courtyard — a meaningful amenity upgrade in a submarket where outdoor space is scarce and commands a premium.
Camelback addition. A rear camelback would substantially increase conditioned square footage while following a building form native to the neighborhood — the traditional New Orleans approach to adding space without altering the street-facing elevation.
Together these moves reposition a modest double into a materially larger, amenity-driven asset. Zoned HMC-2 (Historic Marigny/Tremé/Bywater Commercial District). Buyer to independently verify all zoning, permitting, entitlement, and incentive matters.
Zoned HMC-2 (Historic Marigny/Tremé/Bywater Commercial District). Rehabilitation of the existing structure may qualify for the 20% Federal and 25% Louisiana State Historic Rehabilitation Tax Credits on certified qualified rehabilitation expenditures, subject to certification. Site improvements and shorter-life assets identified through cost segregation may separately be eligible for 100% first-year bonus depreciation under the One Big Beautiful Bill Act. All entitlement and incentive eligibility to be independently verified by buyer and its tax advisors.
Location
State LA
County Orleans
Zoning HMC-2
Interior
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use,Office,Other
Sewer Public Sewer
Water Public
Others
Tax ID 38W103102
Special Listing Condition None
Listed by Parish Realty of Louisiana Inc
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