Magazine Street Retail
1904 Magazine Street New Orleans, LA 70130
1904 Magazine Street, New Orleans, LA, 70130
$2,850,000
For Sale
$2,850,000
Five retail properties totaling 16,352 SF on Magazine Street.
Property Size16,352 SF
Price / SF$174.29
Days on Market866
Property Features for 1904 Magazine Street
General Information
- Standard status
- Active
- Size
- 16,352 SF
- Property subtype
- SCR, SCR-REST, SCR-STREET
Listing Agency
HODC LLC dba Keller Williams Realty New Orleans
(504) 862-0100
Listed by
Jeffrey Doussan · License #995690135,LOUISIANA
(504) 862-0100
Source
Realnex
Added: Mar 5, 2024 Checked: Jul 6 at 12:17 pm
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 HODC LLC dba Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
This portfolio comprises five retail properties, totaling 16,352 square feet. The properties are located in the 1900 block of Magazine Street and are currently occupied by separate tenants. The location is near the planned River District development.
Key Highlights
- Prime location in the dynamic 1900 block of Magazine Street.
- Portfolio of five retail properties totaling 16,352 square feet.
- All properties are currently occupied by separate tenants.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $294.3k | $18.00 |
| − Vacancy | −$5.9k | −$0.36 |
| EGI | $288.4k | $17.64 |
| − OpEx | −$86.5k | −$5.29 |
| NOI | $201.9k | $12.35 |
16,352 SF · lease $18.00/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.88M
$2.52M – $3.37M
NOI $201,914 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $290,930 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Stardust Salon & Day ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Five retail properties totaling 16,352 SF on Magazine Street.
Where is this retail space located?
The property is located at 1904 Magazine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Prime location in the dynamic 1900 block of Magazine Street.; Portfolio of five retail properties totaling 16,352 square feet.; All properties are currently occupied by separate tenants.
