Renovated Storefront Building with
For Sale
Contact for pricing
6024 Magazine St, New Orleans, LA 70118
Renovated commercial property with off-street parking along Magazine Street in Uptown New Orleans.
Property Size2,650 SF
Price / SF$2.64
Days on Market115
Property Features for 6024 Magazine St
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Retail
Zoning
HU-B1
Lease Type
NNN
Amenities
off-street parking
Listing Agency:
The McEnery Company Inc
Listed By:
S. McEnery
(504) 236-9542
Source:
Lacdb.resimplifi
Added: Jun 24
Changed: Oct 13
Last Checked: Oct 14 at 7:40PM
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 McEnery Company Inc
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Investment Insights
Based on property information with market context.
This 2,650-square-foot commercial building has undergone renovation to its interior and façade and includes off-street parking. The property is zoned HU-B1 and is positioned for storefront-oriented commercial use along Magazine Street. Its updated improvements combine with the building’s existing character to create a polished presence for an owner-user or occupant seeking a smaller-scale commercial asset.
The property sits in Uptown New Orleans between State Street and Webster Street, directly across from the newly constructed Starbucks and Club Pilates. Audubon Zoo, Audubon Park, Tulane University, Loyola University New Orleans, and Whole Foods Market are also identified among the surrounding destinations. The location provides a recognizable Magazine Street address within an established commercial corridor.
The property sits in Uptown New Orleans between State Street and Webster Street, directly across from the newly constructed Starbucks and Club Pilates. Audubon Zoo, Audubon Park, Tulane University, Loyola University New Orleans, and Whole Foods Market are also identified among the surrounding destinations. The location provides a recognizable Magazine Street address within an established commercial corridor.
Key Highlights
- 2,650‑square‑foot commercial building
- Renovated interior and façade
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,722
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,440
$654.4K
Cap Rate 7%
$467,457
$467.5K
Cap Rate 9%
$363,578
$363.6K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$47.7K $18.00/SF
− Vacancy
−$954 −$0.36/SF
EGI
$46.7K $17.64/SF
− OpEx
−$14.0K −$5.29/SF
NOI
$32.7K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,440
Cap Rate 7%
$467,457
Cap Rate 9%
$363,578
Alternative Uses
Best Use
Retail
$467.5K
$409.0K – $545.4K
NOI $32,722 @ 7.0% cap · market cap 467.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$673.5K
$589.4K – $785.8K
NOI $47,148 @ 7.0% cap · market cap 673.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
57k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 62%
Dining 24%
Beauty & Spa 7%
Shops & Services 4%
Whole Foods Market
Groceries
35,673 visits/mo
0.3 miles
Starbucks
Dining
7,234 visits/mo
0.1 miles
PJ's Coffee of New Orleans
Dining
4,792 visits/mo
0.4 miles
Home Bank
Shops & Services
2,502 visits/mo
0.4 miles
Bluemercury
Beauty & Spa
2,277 visits/mo
0.3 miles
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in New Orleans, LA
Similar Off Market Nearby
- Rue Magnolia I LLC — 526 leontine st, new orleans, la 70115
Frequently Asked Questions
What type of property is this?
Storefront property - Renovated commercial property with off-street parking along Magazine Street in Uptown New Orleans.
Where is this storefront property located?
The property is located at 6024 Magazine St New Orleans, LA.
What are key features of this property?
This property features: 2,650‑square‑foot commercial building; Renovated interior and façade; Off‑street parking included
