Historic Quadplex with New
For Sale
$970,000
Pending
2412 14 MAGAZINE Street, New Orleans, LA 70130
Vintage architectural details include hardwood floors and high ceilings, complemented by a 2021 roof replacement.
Property Size4,853 SF
Days on Market286
Property Features for 2412 14 MAGAZINE Street
General Information
Standard status
Pending
Size
4,853 SF
Property subtype
Quadruplex
Building Details
Building Size
4,853 SF
Year Built
1890
Listing Agency:
REVE, REALTORS
(504) 352-3303
Listed By:
Tracey Moore · License #73376
Source:
Ewbank.kw
Added: Nov 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:57AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This four-unit property dates to 1890 and retains period character through hardwood flooring and soaring ceilings. A roof replacement completed in 2021 adds a significant recent improvement to the historic building.
The property is located at 2412 14 Magazine Street in New Orleans, between the Garden District and Irish Channel. Restaurants, galleries, and shopping along Magazine Street are within immediate reach. The St. Patrick’s Day Parade passes at the property, while the Mardi Gras route is located a short distance away.
The property is located at 2412 14 Magazine Street in New Orleans, between the Garden District and Irish Channel. Restaurants, galleries, and shopping along Magazine Street are within immediate reach. The St. Patrick’s Day Parade passes at the property, while the Mardi Gras route is located a short distance away.
Key Highlights
- Four‑unit historic property built in 1890
- New roof installed in 2021
- Hardwood floors and soaring ceilings
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
$61,451
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
6.34%
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%
$1,229,020
$1.2M
Cap Rate 7%
$877,871
$877.9K
Cap Rate 9%
$682,789
$682.8K
Market Conditions
NOI Build-Up for 4,853 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
$96.1K $19.80/SF
− Vacancy
−$8.3K −$1.71/SF
EGI
$87.8K $18.09/SF
− OpEx
−$26.3K −$5.43/SF
NOI
$61.5K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,229,020
Cap Rate 7%
$877,871
Cap Rate 9%
$682,789
Alternative Uses
Best Use
Multifamily LT 5
$877.9K
$768.1K – $1.02M
NOI $61,451 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$806.9K
$706.0K – $941.4K
NOI $56,483 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,343 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,353
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Vintage architectural details include hardwood floors and high ceilings, complemented by a 2021 roof replacement.
Where is this quadplex located?
The property is located at 2412 14 MAGAZINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Four‑unit historic property built in 1890; New roof installed in 2021; Hardwood floors and soaring ceilings
