It's a not bad location, it's the end of the street from the market sqaure. We actually found it a very difficult walk from the market, especially the first day when u have your luggages and the streets and stores are terribly indicated. The street was narrow, and lots of people imposed themselves to offer u the directions.
But once we arrived at the riad, it's fantastic. the service was excellent, the guys really helped and reassured us from the chaos, and gave us the survival guide in marrakesh. ( they pretty much booked all the excursions for us with very little commision fee, conpared to the other riads) They simply replace the tourist infomation center ( which was always closed everytime we passed by)