Mixed-Use Property with
For Sale
$650,000
4501 Magazine St, New Orleans, LA 70130
Commercial space and an upstairs three-bedroom apartment share the building.
Property Size2,522 SF
Price / SF$257.73
Days on Market12
Property Features for 4501 Magazine St
General Information
Standard status
Active
Size
2,522 SF
Listing Agency:
Soniat Realty, Inc.
(504) 383-5262
Listed By:
David Johnston
(504) 383-5262
Source:
Exprealty
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 21 at 1:37PM
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.
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 = 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
$34,047
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
5.24%
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%
$680,940
$680.9K
Cap Rate 7%
$486,386
$486.4K
Cap Rate 9%
$378,300
$378.3K
Market Conditions
NOI Build-Up for 2,522 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
$60.5K $24.00/SF
− Vacancy
−$6.1K −$2.40/SF
EGI
$54.5K $21.60/SF
− OpEx
−$20.4K −$8.10/SF
NOI
$34.0K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$680,940
Cap Rate 7%
$486,386
Cap Rate 9%
$378,300
Alternative Uses
Best Use
Mixed Use
$486.4K
$425.6K – $567.5K
NOI $34,047 @ 7.0% cap · market cap 5.24%
Second Best
Retail
$444.9K
$389.3K – $519.0K
NOI $31,142 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$641.0K
$560.9K – $747.9K
NOI $44,871 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,217
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 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 Retail in New Orleans, LA
Questions? Ask Rey
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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
