Magazine Street Retail
1904 Magazine St New Orleans, LA 70130
1904 Magazine St, New Orleans, LA, 70130
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For Sale
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Four retail properties on Magazine Street, New Orleans.
Property Size11,200 SF
Price / SF$254.46
Days on Market864
Property Features for 1904 Magazine St
General Information
- Standard status
- Active
- Size
- 11,200 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1900
Listing Agency
Keller Williams Realty
Listed by
Jeffrey Doussan, Jr. · License #LA995690135
Source
Crexi
Added: Mar 6, 2024 Checked: Jul 17 at 6:41 am
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This portfolio comprises four retail properties situated in the 1900 block of Magazine Street, totaling 11,200 square feet. The properties are currently occupied by separate tenants. The location offers 10,880 square feet of contiguous space, including approximately 6,480 square feet on the ground floor, presenting redevelopment opportunities. The portfolio includes properties at 1904 Magazine St, 1906 Magazine St, 1908/1910 Magazine St, and 1912 Magazine St, leased respectively to Stardust Salon and Day Spa, The Tasting Room, a vacant space, and Parish Parlor. The properties are located near restaurants, retail shops, bars, and personal service establishments, creating an accessible environment for residents of the Lower Garden District, the Irish Chanel, and the upcoming mixed-use River District development.
Key Highlights
- Prime location on Magazine Street in a dynamic corridor.
- Significant redevelopment potential with 10,880 SF of contiguous space.
- Proximity to the highly anticipated River District development.
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 | $201.6k | $18.00 |
| − Vacancy | −$4.0k | −$0.36 |
| EGI | $197.6k | $17.64 |
| − OpEx | −$59.3k | −$5.29 |
| NOI | $138.3k | $12.35 |
11,200 SF · lease $18.00/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.98M
$1.73M – $2.30M
NOI $138,298 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,267 @ 7.0% cap · market cap 6.99%
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 - Four retail properties on Magazine Street, New Orleans.
Where is this retail space located?
The property is located at 1904 Magazine St 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 on Magazine Street in a dynamic corridor.; Significant redevelopment potential with **10,880 SF of contiguous space.**; Proximity to the highly anticipated River District development.
