Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Magazine Street Retail Opportunity Title is generated by Realmo AI

    4138 Magazine St, New Orleans, LA 70115

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $38 SF/Yr $7,283/Mo (calc)

    Renovated retail space available in Uptown New Orleans.

    Type:Retail
    Property size:
    2,300 SF
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 5 at 10:05 pm

    Property Features for 4138 Magazine St

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Property subtype
    Retail

    Spaces For Lease

    at 4138 Magazine St Contact us

    We can help!

    Listing Contact
    Matthew Pittman, CCIM

    Listing agent Matthew Pittman, CCIM License #LA #SALE.995682742-ACT

    Listing office

    Listing date Mar 6, 2026

    Source Lee-associates

    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 Matthew Pittman, CCIM

    HighLights

    • Prime location on Magazine Street, a highly desired retail area in Uptown New Orleans.
    • ±2,300 SF of retail space.
    • Excellent visibility at the corner of Milan and Magazine Streets.
    • Currently undergoing renovations to update the exterior and vanilla box the interior.
    • Rare opportunity - first time for lease in over 40 years.
    • Rear back yard for potential parking or storage.

    Overview

    Located on Magazine Street in Uptown New Orleans, this retail space is available for lease. The building, approximately 2,300 square feet, is situated at the corner of Milan and Magazine Streets. The property is currently undergoing renovations to update the exterior and create a vanilla box interior. Neighboring tenants include Saffron, Shaya, Mignon Faget, Villa Vici, and Warby Parker, along with other retail and restaurant businesses. The property offers excellent visibility and includes a rear backyard that could be used for potential parking or storage. This is one of the last remaining spaces available along Magazine Street.
    Location Intelligence

    Current Use by Public Records

    Berta's & Mina's Antiquities Art Gallery

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.099
    Latitude
    29.9209

    Nearby Similar for Lease

    • $2,895/Mo
      1,185 SF

      Prime Commercial Space, Central Business District

      Ground-floor commercial space in a high-traffic New Orleans location.
      127 CAMP Street, New Orleans, LA 70130
      View Details
    • $4,000/Mo
      4,000 SF

      Versatile Commercial Space, New Orleans East

      Adaptable commercial space with frontage and accessibility on Bullard Avenue.
      4949 BULLARD Avenue, New Orleans, LA 70128
      View Details
    • $7,000/Mo
      8,000 SF

      Versatile Warehouse/Flex Space Available

      8,000 SF warehouse/flex space with customization potential.
      4949 BULLARD Avenue, New Orleans, LA 70128
      View Details
    • $5,000/Mo
      2,039 SF

      Emerging Corridor Commercial Opportunity

      Flexible commercial space in a rapidly developing New Orleans corridor.
      3958-60 TCHOUPITOULAS Street, New Orleans, LA 70115
      View Details
    • $2,720/Mo
      490 SF

      High-End Office Suite in New Orleans

      Turnkey office suite with designer finishes in Lower Garden District.
      1811 HASTINGS Place, New Orleans, LA 70130
      View Details
    • $2,800/Mo
      1,066 SF

      Retail Space on Royal Street

      Prime retail space in a historic New Orleans location.
      2330 ROYAL Street, New Orleans, LA 70117
      View Details
    • $5,000/Mo
      2,868 SF

      Renovated Corner Building Retail/Office Space

      Spacious ground floor unit in Uptown Arts District.
      3901 BARONNE Street, New Orleans, LA 70115
      View Details
    • $1,850/Mo
      1,572 SF

      Canal Street Office Suite

      First-floor office suite in Mid-City New Orleans.
      3300 CANAL Street, New Orleans, LA 70119
      View Details
    • $950/Mo
      672 SF

      Historic Bywater Office Space Available

      Furnished office in historic building, utilities included, walkable location.
      3726 SAINT CLAUDE Avenue, New Orleans, LA 70117
      View Details
    • $2,500/Mo
      1,700 SF

      River Bend Cottage for Lease

      Uptown New Orleans raised cottage suitable for office or retail.
      724 DUBLIN Street, New Orleans, LA 70118
      View Details
    • $250 SF/Yr
      100 SF

      New Orleans Salon Suite Rental

      Salon suite rental available in a popular hair and barber salon.
      3024 GENTILLY Boulevard, New Orleans, LA 70122
      View Details
    • $250 SF/Yr
      100 SF

      Renovated Salon Suites Available

      Freshly renovated salon suites with shampoo bowl and utilities included.
      3024 GENTILLY Boulevard, New Orleans, LA 70122
      View Details

    FAQs

    What type of property is this?
    Retail space - Renovated retail space available in Uptown New Orleans.
    Where is this retail space located?
    The property is located at 4138 Magazine St New Orleans, LA.
    What is the lease rate?
    The lease rate is $38 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Magazine Street, a highly desired retail area in Uptown New Orleans.; ±2,300 SF of retail space.; Excellent visibility at the corner of Milan and Magazine Streets.
    (504) 318-2858
    We can help!
    Listing Contact
    Matthew Pittman, CCIM
    Real Estate License ID: LA #SALE.995682742-ACT
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4138 Magazine St, New Orleans, LA 70115
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!