Mixed-Use Property with
For Sale
$650,000
4501 Magazine St, New Orleans, LA 70115
Commercial space and an upstairs three-bedroom apartment share the building.
Property Size2,522 SF
Price / SF$257.73
Days on Market69
Property Features for 4501 Magazine St
General Information
Standard status
Active
Size
2,522 SF
Site & Location
Neighborhood
Uptown
Building Details
Year Built
1900
Listing Agency:
Soniat Realty, Inc.
Listed By:
David Johnston · License #995718603
(504) 383-5262
Source:
Fiorellaavenue
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 7 at 1:12PM
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 Soniat Realty, Inc.
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Investment Insights
Based on property information with market context.
This mixed-use property combines 1,422 square feet of downstairs commercial space with a 1,100-square-foot upstairs residential apartment. The apartment contains three bedrooms and one bathroom, while the property also includes two private rear driveway parking spaces.
Located on Magazine Street in New Orleans’ Uptown area, the property places commercial space among established retailers, restaurants, and neighborhood destinations. Storefront exposure and local traffic support a visible commercial presence. Additional commercial uses may be possible, subject to zoning approval.
Located on Magazine Street in New Orleans’ Uptown area, the property places commercial space among established retailers, restaurants, and neighborhood destinations. Storefront exposure and local traffic support a visible commercial presence. Additional commercial uses may be possible, subject to zoning approval.
Key Highlights
- 1,422 SF of downstairs commercial space
- 1,100 SF upstairs residential apartment with 3BR/1BA
- 2 private rear driveway parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,642
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,840
$612.8K
Cap Rate 7%
$437,743
$437.7K
Cap Rate 9%
$340,467
$340.5K
Market Conditions
NOI Build-Up for 2,522 SF
Gross rent
$54.5K $21.60/SF
− Vacancy
−$5.4K −$2.16/SF
EGI
$49.0K $19.44/SF
− OpEx
−$18.4K −$7.29/SF
NOI
$30.6K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,840
Cap Rate 7%
$437,743
Cap Rate 9%
$340,467
Alternative Uses
Best Use
Mixed Use
$437.7K
$383.0K – $510.7K
NOI $30,642 @ 7.0% cap · market cap 4.71%
Second Best
Retail
$314.4K
$275.1K – $366.8K
NOI $22,007 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$665.4K
$582.2K – $776.3K
NOI $46,576 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,217
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Dining 14%
Shops & Services 13%
Apparel 12%
Rouses Market
Groceries
39,840 visits/mo
0.3 miles
Buffalo Exchange
Apparel
4,783 visits/mo
0.3 miles
Chase Bank
Shops & Services
4,681 visits/mo
0.5 miles
Yogurtland
Dining
3,562 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
3,370 visits/mo
0.3 miles
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space and an upstairs three-bedroom apartment share the building.
Where is this mixed-use property located?
The property is located at 4501 Magazine St New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,422 SF of downstairs commercial space; 1,100 SF upstairs residential apartment with 3BR/1BA; 2 private rear driveway parking spaces
