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1880s Warehouse Comes With Parking Lot, Asks $3.5M

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photos via M2 Brokerage

"This is one of the most desired locations in Louisiana for a major redevelopment," so begins the listing for this Warehouse District property. The 17,620-square foot, two-story warehouse apparently dates back to 1885 and included in the $3,500,000 asking price is a 14,565-square foot parking lot. The current owner, attorney John Cummings III (father of developer Sean Cummings), added this to his list of real estate holdings in 2005 for $420,000. A look at the marketing package, which includes all the deets on tax incentives, shows that this S. Peters Street spot (which is described as being in "poor condition" on the Louisiana Commercial Database) was originally asking a hefty $4,100,000. Under the CBD-8 zoning rules, this could be a hotel, multi-family development, live performance venue, offices, or retail.
· Listing: 864 S. Peters St. [M2 Brokerage]
· 864 S. Peters St. marketing package [LACDB]