Mixed-Use Property with
For Sale
$1,499,000
5933-35 Magazine St, New Orleans, LA 70115
HU-B1 zoning supports a combination of two commercial units and a detached residential unit.
Property Size4,004 SF
Price / SF$374.38
Days on Market65
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Property Features for 5933-35 Magazine St
General Information
Standard status
Active
Size
4,004 SF
Property subtype
Retail
Zoning
HU-B1
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
The Nola Connection Realty
Listed By:
Kaitlyn Demoran
(985) 607-4003
Source:
Lacdb.resimplifi
Added: Aug 12
Changed: Oct 14
Last Checked: Oct 14 at 7:44PM
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 The Nola Connection Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes two distinct commercial units, each approximately 1,500 square feet. The ground-floor space has an open layout, while the upper unit is arranged with two large offices or rooms. A detached residential unit adds two bedrooms and two full bathrooms, with two private parking spaces located below.
The property is located at 5933-35 Magazine St in New Orleans and is zoned HU-B1. It is also situated in an X flood zone, providing an important site characteristic for evaluating the property. The commercial and residential components create a varied configuration for an owner-occupant or investor.
The property is located at 5933-35 Magazine St in New Orleans and is zoned HU-B1. It is also situated in an X flood zone, providing an important site characteristic for evaluating the property. The commercial and residential components create a varied configuration for an owner-occupant or investor.
Key Highlights
- Two commercial units, each approximately 1,500 sq. ft.
- Ground‑floor commercial unit with an open floor plan
- Upper commercial unit includes two large offices/rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,649
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$972,980
$973.0K
Cap Rate 7%
$694,986
$695.0K
Cap Rate 9%
$540,544
$540.5K
Market Conditions
NOI Build-Up for 4,004 SF
Gross rent
$86.5K $21.60/SF
− Vacancy
−$8.6K −$2.16/SF
EGI
$77.8K $19.44/SF
− OpEx
−$29.2K −$7.29/SF
NOI
$48.6K $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%
$972,980
Cap Rate 7%
$694,986
Cap Rate 9%
$540,544
Alternative Uses
Best Use
Mixed Use
$695.0K
$608.1K – $810.8K
NOI $48,649 @ 7.0% cap · market cap 3.25%
Second Best
Office B
$672.6K
$588.5K – $784.7K
NOI $47,083 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.06M
$924.3K – $1.23M
NOI $73,946 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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 Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - HU-B1 zoning supports a combination of two commercial units and a detached residential unit.
Where is this mixed-use property located?
The property is located at 5933-35 Magazine St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Two commercial units, each approximately 1,500 sq. ft.; Ground‑floor commercial unit with an open floor plan; Upper commercial unit includes two large offices/rooms
