Stylish Hostel/Hotel Hybrid in Elegant Historic Building

Hospitality for Sale
Catylist Listing ID: 30849279
Property Subtypes: Hostel, Hotel
Number of Units: 30 Units
Building Size (RSF): 11,750 SF
Gross Building Area: See Agent
Gross Land Area: 4,688 SF
Sale Price: $2,950,000
Unit Price: $98,333.33 Per Unit
Property Use Type: Investment, Business
Name of Establishment: The Quisby
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/6/2023

Overview / Comments

The Quisby is an operating 30-room hostel/hotel hybrid with 24-hour full bar in the ground floor lobby catering to millennials and international travelers. Fully renovated in 2017, the three-story, 11,750-sf property is located along St. Charles Avenue near the Lower Garden District, Uptown New Orleans, and the Warehouse District. This nearly mile-long area is undergoing a revitalization, with recent projects including a new development at 1600 St. Charles Avenue, the renovation of the former Hancock Whitney bank into the new headquarters for Baptist Community Ministries, condo and mixed use developments such as the site of the former Brown’s Dairy, and new restaurants.

Built in 1924 as The Audubon Hotel, this property has long been a part of the New Orleans hospitality scene. It is unencumbered by brand or management. Located along the historic St. Charles streetcar line, the building affords convenient access to popular tourist attractions, such as museums, renowned restaurants, and the French Quarter.

The sale comes with in-place hotel license and liquor license. The property is subject to a long-term ground lease with a current rate of $34,000 per year. This offering provides an opportunity for an experienced hospitality manager to acquire lodging in a prime location significantly below replacement cost.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 102105102
Retail Clientele: Traveler
Property Located Between: Erato and Clio streets
Property Visibility: Excellent
Largest Nearby Street: St. Charles Ave
Highway Access: I-10
Airports: MSY
Area Description: The property sits in a vibrant nexus of Downtown and Uptown New Orleans. The historic St. Charles streetcar line is a convenient means of transport, while the interstate is just a few blocks away. Within walking distance are the New Orleans Ernest N. Morial Convention Center, the variety of shops and homes in the Lower Garden District, the shotgun houses of the Irish Channel, the offices of the Central Business District, the galleries and museums in the Warehouse District, and the restaurants and businesses of Central City. Popular restaurants nearby include Tito’s Ceviche and Pisco, Maïs Arepas, Lula Restaurant and Distillery, Avenue Pub, and Central City BBQ. Other attractions include the Southern Food and Beverage Museum, the National World War II Museum, the Museum of the Southern Jewish Experience, and the Ogden Museum of Southern Art.
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1924
Year Renovated: 2017

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,722 201,945 402,515
Median Age: 36.86 35.47 37.05
Households: 11,859 86,753 167,800


Photograph of Listing Agent

Austin Lavin, CCIM

Corporate Realty - Main Office New Orleans, LA 70170-0000
Photograph of Listing Agent

Scott Graf, CCIM

Corporate Realty - Main Office New Orleans, LA 70170-0000
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