Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2138 Magazine St New Orleans, LA 70130

    Sponsored
    For Lease
    $3,900 /Mo ($46 SF/Yr)

    Retail, Traditional - New Orleans, LA

    Type:Retail
    Property size:
    1,014 SF
    Days on Market:
    37
    Last Refresh:
    Feb 25 at 9:06 am

    Property Features for 2138 Magazine St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Security features
    Security System
    Zoning
    Cu
    Rooms
    Bathroom 1
    Bathrooms
    1
    Interior features
    Carbon Monoxide Detector, No Carpet, Public Transportation, Security System, Smoke Alarm
    Size
    1,014 SF

    Taxes and HOA fees

    Expense value
    3900
    Expense
    Security Deposit
    Expense freq.
    Once

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Building materials
    Brick, Frame, Stucco
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Chris Smith
    Chris Smith

    HODC LLC dba Keller Williams Realty New Orleans (504) 862-0100

    Listing agent Chris Smith (504) 862-0100

    Listing date Jan 20, 2026

    MLS# 2532007 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Magazine Street Retail Opportunity

    Located at the corner of Magazine Street and Jackson Avenue, this commercial space offers high visibility and consistent activity from locals and tourists. Two commercial suites have been combined to create a large, open footprint. Suite B fronts Magazine Street and is available for $3,900 per month as a NNN rental. Suite C fronts Jackson Avenue and is offered at $3,200 per month as a NNN rental. Both suites can be secured together for a combined monthly net rental of $6,500 NNN. The layout supports a wide range of commercial concepts. The location is next to PJ’s Coffee House's flagship store, surrounded by established anchor tenants and desirable neighboring businesses, with constant foot and street traffic. Magazine Street draws strong daily visitation from residents, tourists, and walking tours that regularly pass through the Garden District, the Irish Channel, and surrounding neighborhoods. The property is 1014 square feet and zoned CU.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gallery B. Fos Art Gallery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.076497
    Latitude
    29.929662

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      St Charles and Poydras

      Flexible workspace in Las Colinas MacArthur
      650 Poydras St, New Orleans, LA 70130
      View Details
    • $5,700 /Mo
      3,500 SF

      Canal Street Office Space Available

      Spacious office suite with flexible layout in central New Orleans.
      3300 Canal St, New Orleans, LA 70119
      View Details
    • New
      $1,275 /Mo
      741 SF

      Multipurpose Room in Algiers Point

      Versatile space suitable for various uses in New Orleans.
      627 Opelousas Ave, New Orleans, LA 70114
      View Details
    • $5,000 /Mo
      2,900 SF

      St. Charles Avenue Office Building

      Two-story office building on historic St. Charles Avenue.
      1130 St Charles Ave, New Orleans, LA 70130
      View Details
    • $3,000 /Mo
      1,230 SF

      CBD Retail Condo For Lease

      Prime 1,230 sq ft retail space in the CBD.
      736 Union St, New Orleans, LA 70130
      View Details
    • New
      $1,500 /Mo
      1,200 SF

      New Orleans Office Space Available

      Spacious office in Mid-City, minutes from key districts.
      3416 Canal St, New Orleans, LA 70119
      View Details
    • $2,500 /Mo
      1,234 SF

      New Orleans Duplex Near Greenway

      New construction duplex with modern amenities near Lafitte Greenway.
      1908 St. Louis St, New Orleans, LA 70112
      View Details
    • $5,500 /Mo
      1,200 SF

      Unique Corner Retail Space Available

      Corner retail space in the heart of New Orleans.
      2128 Saint Claude Ave, New Orleans, LA 70117
      View Details
    • $1,400 /Mo
      1,370 SF

      River Ridge Office Space Available

      Professional office space in Elmwood Office Park for lease.
      1524 Edwards Ave, River Ridge, LA 70123
      View Details
    • $3,200 /Mo
      1,014 SF

      Magazine Street Retail Opportunity

      Prime retail space on Magazine Street with high visibility.
      2138 Magazine St, New Orleans, LA 70130
      View Details
    • $1,500 /Mo
      1,300 SF

      Historic-Looking Corner Store Building

      Commercial space suitable for coffee shop, office, or retail.
      4999 Burgundy St, New Orleans, LA 70117
      View Details
    • Contact for pricing
      3,813 SF

      Renovated Retail Space on Claiborne

      Two renovated buildings ideal for retail, storage, or office use.
      4321 S Claiborne Ave, New Orleans, LA 70116
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail space on Magazine Street with high visibility.
    Where is this retail space located?
    The property is located at 2138 Magazine St New Orleans, LA.
    What is the lease rate?
    The lease rate is $46 SF/Yr.
    What are key features of this property?
    This property features: - Premier location at the high-traffic intersection of Magazine Street and Jackson Avenue.; - High visibility and consistent foot traffic from locals and tourists.; - Large, open, and functional commercial space created by combining two suites.
    (504) 231-2004
    Request Owner's contact information
    2138 Magazine St New Orleans, LA 70130
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2138 Magazine St
    New Orleans, LA 70130
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2138 Magazine St New Orleans, LA 70130
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chris Smith
    Chris Smith
    Real Estate License ID: 000009641
    (504) 231-2004 (504) 862-0100 (504) 891-6400
    Learn more
    Google sign-in failed. Please try again or use another login method.