Pittsburgh's NOLA on the Square restaurant on the market

The former location of NOLA on the Square in Market Square in Downtown Pittsburgh is up for lease.

Ron Sofranko of Sofranko Advisory Group, the restaurant broker handling the location, called it a turnkey operation. “A chef could go in there tomorrow and clean it up and get it all situated and they could open their restaurant fairly quickly,” Sofranko said. “That’s the value.”

The 6,000-square-foot venue include outdoor seating on a patio facing Market Square. It’s equipped with a bar, furniture and equipment. The $125,000 asking price does not include a liquor license, and the rent has not been set. The space will be available in January.

NOLA on the Square was a popular New Orleans-style casual restaurant that regularly hosted live music. It was opened in 2011 by the late Yves Carreau, a French-born restaurant operator who was a key mover in the Pittsburgh Downtown restaurant scene.

Sofranko believes the prime location in Market Square will endure. “It’s a hub of food activity and good times,” he said. “When good times come back, Market Square will be alive and well again.”

While covid-19 has hit the industry hard, Sofranko predicted that new restaurants will flourish once the pandemic restrictions loosen. “There’s going to be a wide-open market for new restaurants.”

NOLA on the Square closed its doors in July, one of several well-known Downtown restaurants that have shut down during the pandemic.