Two-Unit Mixed-Use
For Sale
Contact for pricing
1582 Magazine St, New Orleans, LA 70130
Renovated commercial property combines coworking space with a licensed upstairs short-term rental.
Property Size5,856 SF
Price / SF$0.01
Days on Market98
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Property Features for 1582 Magazine St
General Information
Standard status
Active
Size
5,856 SF
Property subtype
Office
Zoning
HU-B1
Occupancy
100%
Lease Type
NNN
Additional Details
Furnished
No
Road Access
Yes
Office Units
1
Amenities
Power
Water
Sewer
Building Details
Year Built
2014
Year Renovated
2014
Buildings
1
Stories
2
Tenancy
Single Tenant
Listing Agency:
SVN Urban Properties
Listed By:
Michael Bucher · License #BROK.995719611-ACT
(703) 304-5335
Source:
Lacdb.resimplifi
Added: Jul 10
Changed: Oct 9
Last Checked: Oct 14 at 7:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Urban Properties
Investment Insights
Based on property information with market context.
This two-story mixed-use building contains 5,856 SF across two units. The approximately 3,800-square-foot ground-floor space operates as an office and coworking facility, while the approximately 2,000-square-foot second floor is configured as a licensed commercial short-term rental with four bedrooms and three bathrooms. Both units are currently occupied.
The property underwent a full renovation in 2014, received additional updates in 2020, and was re-roofed in 2022. HU-B1 zoning supports commercial use, and the building fronts Magazine Street in New Orleans’ Lower Garden District. The office occupancy may be vacated at closing, allowing an owner-occupant to use the lower level while retaining the upstairs accommodation component. Furniture is excluded from the sale but may be purchased separately.
The property underwent a full renovation in 2014, received additional updates in 2020, and was re-roofed in 2022. HU-B1 zoning supports commercial use, and the building fronts Magazine Street in New Orleans’ Lower Garden District. The office occupancy may be vacated at closing, allowing an owner-occupant to use the lower level while retaining the upstairs accommodation component. Furniture is excluded from the sale but may be purchased separately.
Key Highlights
- 5,856 SF two‑story building with two units
- Ground‑floor office and coworking space is approximately 3,800sf
- Licensed second‑floor commercial STR includes four bedrooms and three baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,157
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,140
$1.4M
Cap Rate 7%
$973,671
$973.7K
Cap Rate 9%
$757,300
$757.3K
Market Conditions
NOI Build-Up for 5,856 SF
Gross rent
$136.3K $23.28/SF
− Vacancy
−$12.4K −$2.12/SF
EGI
$123.9K $21.16/SF
− OpEx
−$55.8K −$9.52/SF
NOI
$68.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,140
Cap Rate 7%
$973,671
Cap Rate 9%
$757,300
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,319 @ 7.0% cap · market cap 215,797.50%
Second Best
Mixed Use
$1.13M
$988.2K – $1.32M
NOI $79,056 @ 7.0% cap · market cap 197,640.00%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,188 @ 7.0% cap · market cap 260,470.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial property combines coworking space with a licensed upstairs short-term rental.
Where is this mixed-use property located?
The property is located at 1582 Magazine St New Orleans, LA.
What are key features of this property?
This property features: 5,856 SF two‑story building with two units; Ground‑floor office and coworking space is approximately 3,800sf; Licensed second‑floor commercial STR includes four bedrooms and three baths
