Mixed-Use Property with STR
For Sale
Contact for pricing
5808 Magazine St, New Orleans, LA 70115
Newly built 3-story mixed-use building with vacant storefront space and a licensed short-term rental penthouse.
Property Size3,585 SF
Price / SF$0.82
Days on Market367
Property Features for 5808 Magazine St
General Information
Standard status
Active
Size
3,585 SF
Total Parking Spaces
1
Property subtype
Retail
Lease Type
NNN
Site & Location
Neighborhood
West Riverside
Additional Details
Clear Height
14 ft
Grease Trap
Yes
Amenities
private elevator
balcony
1 Parking Spaces
Building Details
Year Built
2021
Listing Agency:
Talbot Realty Group
Listed By:
Gabriel Massey
(540) 421-5282
Source:
Lacdb.resimplifi
Added: Oct 22, 2025
Changed: Oct 10
Last Checked: Oct 23 at 3:28AM
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 Talbot Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
5808 Magazine Street is a newly constructed three-story mixed-use property completed in 2021. The building includes approximately 2,000 SF of vacant commercial space across the ground and second floors with storefront frontage, 14-foot ceilings, and an installed grease trap suitable for retail, restaurant, or service-oriented uses. The third floor is a luxury residential penthouse currently operating as a licensed short-term rental, with a private elevator and balcony overlooking Magazine Street.
The adjacent portfolio also includes 737 Eleonore Street, a fully renovated historic residence originally constructed circa 1895 and currently operating as a licensed 5-bedroom, 3-bath short-term rental with established booking history. The offering is positioned along the Magazine Street corridor near Nashville Avenue.
Together, the two properties create a combined mixed-use and hospitality investment package, with in-place short-term rental income plus a commercial space available for lease-up or owner-operator use.
The adjacent portfolio also includes 737 Eleonore Street, a fully renovated historic residence originally constructed circa 1895 and currently operating as a licensed 5-bedroom, 3-bath short-term rental with established booking history. The offering is positioned along the Magazine Street corridor near Nashville Avenue.
Together, the two properties create a combined mixed-use and hospitality investment package, with in-place short-term rental income plus a commercial space available for lease-up or owner-operator use.
Key Highlights
- 5808 Magazine Street: 3‑story mixed‑use building completed in 2021 with a licensed short‑term rental penthouse
- 5808 Magazine Street includes approx. 2,000 SF of vacant commercial space on the ground and second floors with HU‑B1 zoning
- Commercial space has storefront frontage, 14‑foot ceilings, and an installed grease trap for retail, restaurant, or service‑oriented use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,315
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,300
$546.3K
Cap Rate 7%
$390,214
$390.2K
Cap Rate 9%
$303,500
$303.5K
Market Conditions
NOI Build-Up for 3,585 SF
Gross rent
$54.6K $15.24/SF
− Vacancy
−$5.0K −$1.39/SF
EGI
$49.7K $13.85/SF
− OpEx
−$22.3K −$6.23/SF
NOI
$27.3K $7.62/SF
Area
ZIP 70115
Vacancy
9.10%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,300
Cap Rate 7%
$390,214
Cap Rate 9%
$303,500
Alternative Uses
Best Use
Retail
$446.9K
$391.0K – $521.4K
NOI $31,282 @ 7.0% cap · market cap 1,060.41%
Second Best
Apartment 5plus
$390.2K
$341.4K – $455.3K
NOI $27,315 @ 7.0% cap · market cap 925.93%
Theoretical Best
Office A
$945.8K
$827.6K – $1.10M
NOI $66,208 @ 7.0% cap · market cap 2,244.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
14 ft
Clear height
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Newly built 3-story mixed-use building with vacant storefront space and a licensed short-term rental penthouse.
Where is this short term rental property located?
The property is located at 5808 Magazine St New Orleans, LA.
What are key features of this property?
This property features: 5808 Magazine Street: 3‑story mixed‑use building completed in 2021 with a licensed short‑term rental penthouse; 5808 Magazine Street includes approx. 2,000 SF of vacant commercial space on the ground and second floors with HU‑B1 zoning; Commercial space has storefront frontage, 14‑foot ceilings, and an installed grease trap for retail, restaurant, or service‑oriented use
