Mixed-Use Building with
New
For Sale
$650,000
4501 MAGAZINE Street, New Orleans, LA 70115
COMMERCIAL - New Orleans, LA
Property Size2,522 SF
Lot Size0.06 Acres
Price / SF$257.73
Days on Market1
Property Features for 4501 MAGAZINE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Hu-B1
Lot features
Regular
Subdivision
Uptown
Standard status
Active
APN
614201421
Size
2,522 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
SQ 233 LOT A MAGAZINE AND JENA 30/31X90 4501-03 MAGAZINE ST S-2 STY-W FILE #86512 11/03 DON
Legal Description
SQ 233 LOT A MAGAZINE AND JENA 30/31X90 4501-03 MAGAZINE ST S-2 STY-W FILE #86512 11/03 DON
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Listing Agency:
Soniat Realty, Inc.
(504) 488-8988
Listed By:
David Johnston
(504) 383-5262
Added: Aug 11
Last Checked: Aug 11 at 11:06PM
MLS# 2571990
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.
Investment Insights
Based on property information with market context.
This mixed-use property at 4501 Magazine Street combines 1,422 square feet of downstairs commercial space with a 1,100-square-foot upstairs residential area. The apartment includes three bedrooms and one bathroom, while two private rear driveway parking spaces serve the property. Built in 1900, the building sits on a 0.063-acre lot and has public water service.
The property is located on Magazine Street in New Orleans’ Uptown area, among established retailers, restaurants, and neighborhood destinations. Zoning is Hu-B1, with commercial uses subject to zoning approval. The combined property size is 2,522 square feet, offering a commercial component and an upstairs residential unit within one building.
The property is located on Magazine Street in New Orleans’ Uptown area, among established retailers, restaurants, and neighborhood destinations. Zoning is Hu-B1, with commercial uses subject to zoning approval. The combined property size is 2,522 square feet, offering a commercial component and an upstairs residential unit within one building.
Key Highlights
- 1,422 sq ft of downstairs commercial space
- 1,100‑square‑foot upstairs apartment with 3BR/1BA
- Two private rear driveway parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,642
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,840
$612.8K
Cap Rate 7%
$437,743
$437.7K
Cap Rate 9%
$340,467
$340.5K
Market Conditions
NOI Build-Up for 2,522 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.5K $21.60/SF
− Vacancy
−$5.4K −$2.16/SF
EGI
$49.0K $19.44/SF
− OpEx
−$18.4K −$7.29/SF
NOI
$30.6K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,840
Cap Rate 7%
$437,743
Cap Rate 9%
$340,467
Alternative Uses
Best Use
Mixed Use
$437.7K
$383.0K – $510.7K
NOI $30,642 @ 7.0% cap · market cap 4.71%
Second Best
Retail
$314.4K
$275.1K – $366.8K
NOI $22,007 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$665.4K
$582.2K – $776.3K
NOI $46,576 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,217
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Dining 14%
Shops & Services 13%
Apparel 12%
Rouses Market
Groceries
39,840 visits/mo
0.3 miles
Buffalo Exchange
Apparel
4,783 visits/mo
0.3 miles
Chase Bank
Shops & Services
4,681 visits/mo
0.5 miles
Yogurtland
Dining
3,562 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
3,370 visits/mo
0.3 miles
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with an upstairs three-bedroom apartment and private rear parking.
Where is this mixed-use property located?
The property is located at 4501 MAGAZINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,422 sq ft of downstairs commercial space; 1,100‑square‑foot upstairs apartment with 3BR/1BA; Two private rear driveway parking spaces
