Mixed-Use Retail & Apartment
5206 Magazine Street New Orleans, LA 70115
5206 Magazine Street, New Orleans, LA, 70115
$1,650,000
For Sale
$1,650,000
Street-level commercial space with two long-term tenants plus three apartments on a deep lot.
Property Size4,442 SF
Lot Size0.13 Acres
Price / SF$371.45
Days on Market555
Property Features for 5206 Magazine Street
General Information
- Standard status
- Active
- Size
- 4,442 SF
- Lot size
- 0.13 Acres
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1902
Listing agency
O'Dwyer Realty
(504) 666-6105
Listed by
Lisa O'Dwyer · License #995687965
(504) 666-6105
Source
Compass
Added: Jan 14, 2025 Updated: Jul 22 at 2:38PM Checked: Jul 22 at 2:38PM
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 O'Dwyer Realty
Investment Insights
Based on property information with market context.
This mixed-use property totals 5,103 square feet, including 4,442 square feet of living space, situated on a deep 45' x 130' lot. Street-level frontage is leased to two long-term commercial tenants. The residential component includes three apartments: a rented 1-bedroom unit; a large, newly renovated 2-bedroom, 1.5-bath unit with a bonus office/exercise room and a 2024 updated kitchen, which is owner occupied; and a third 1-bedroom, 1-bath upper unit that is in need of a full renovation. Foundation piers were replaced in 2024.
Located along the Magazine Street commercial corridor in New Orleans, the property is zoned for mixed-use and is surrounded by restaurants, boutiques, and neighborhood amenities.
Current annual rents are stated at over $75,000, with additional income potential supported by the condition of the third residential unit.
Located along the Magazine Street commercial corridor in New Orleans, the property is zoned for mixed-use and is surrounded by restaurants, boutiques, and neighborhood amenities.
Current annual rents are stated at over $75,000, with additional income potential supported by the condition of the third residential unit.
Key Highlights
- Mixed‑use 2‑story property with 5,103 total SF, including 4,442 living SF on a 45' x 130' lot
- Street‑level commercial frontage is leased by two long‑term tenants
- Residential mix: one rented 1‑bedroom unit, one newly renovated large 2‑bedroom 1.5‑bath unit, and one 1‑bedroom 1‑bath upper unit
Local Financial Insights For Mixed Use
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 | $95.9k | $21.60 |
| − Vacancy | −$9.6k | −$2.16 |
| EGI | $86.4k | $19.44 |
| − OpEx | −$32.4k | −$7.29 |
| NOI | $54.0k | $12.15 |
4,442 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$771.0K
$674.6K – $899.5K
NOI $53,970 @ 7.0% cap · market cap 3.27%
Second Best
Retail
$553.7K
$484.5K – $646.0K
NOI $38,761 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,035 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sisters in Christ Records
(Bike/Boat/Book/etc) Store
Totally Wired Films
Film Production
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Street-level commercial space with two long-term tenants plus three apartments on a deep lot.
Where is this mixed-use property located?
The property is located at 5206 Magazine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Mixed‑use 2‑story property with 5,103 total SF, including 4,442 living SF on a 45' x 130' lot; Street‑level commercial frontage is leased by two long‑term tenants; Residential mix: one rented 1‑bedroom unit, one newly renovated large 2‑bedroom 1.5‑bath unit, and one 1‑bedroom 1‑bath upper unit
