Sonder at Par L'Eau | 2317 N Rampart St
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Sonder at Par L'Eau 2317 N Rampart St
8 Room Hotel New Orleans, LA 70117 For Sale
Investment Highlights
- Great Investment Opportunity!
Executive Summary
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.
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.
Property Facts
| Sale Type | Investment | Building Size | 17,850 SF |
| Property Type | Hospitality | No. Rooms | 8 |
| Property Subtype | Hotel | Number of Floors | 2 |
| Building Class | B | Year Built | 2000 |
| Lot Size | 0.30 AC | Corridor | Interior |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 17,850 SF |
| No. Rooms | 8 |
| Number of Floors | 2 |
| Year Built | 2000 |
| Corridor | Interior |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wi-Fi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 8 | £117.72 | - |
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 3-8W-1-031-26 | Improvements Assessment | £57,509 |
| Land Assessment | £13,522 | Total Assessment | £71,031 |
PROPERTY TAXES
Parcel Number
3-8W-1-031-26
Land Assessment
£13,522
Improvements Assessment
£57,509
Total Assessment
£71,031
zoning
| Zoning Code | 3-8W-1-031-22 |
| 3-8W-1-031-22 |
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Sonder at Par L'Eau | 2317 N Rampart St
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