Office Condominium with Garage
For Sale
$995,000
747 Magazine Street #6, New Orleans, LA 70130
The workspace includes reception, conference, open and private office areas, a kitchen, and restrooms.
Property Size4,898 SF
Price / SF$203.14
Days on Market425
Property Features for 747 Magazine Street #6
General Information
Standard status
Active
Size
4,898 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
CBD-6
Site & Location
Neighborhood
Central Business District
Additional Details
Property Use
Office
Amenities
common secure entry
Building Details
Building Size
4,898 SF
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Compass Mandeville
(985) 626-5695
Listed By:
Chip Gardner · License #912124852
(504) 236-3891
Source:
Cypresskeyrealty
Added: Aug 28, 2025
Changed: Oct 25
Last Checked: Oct 26 at 3:50AM
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 Compass Mandeville
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.
This 4,898-square-foot office condominium is part of a three-story commercial and residential building in New Orleans’ Warehouse District. Its layout includes a reception area, conference room, open and private offices, kitchen, and restrooms. The current owner occupies the unit and plans to vacate upon sale.
The building has a shared secure entrance, and the unit includes one reserved space in the garage. The property is zoned CBD-6 Urban Core Neighborhood Mixed-Use District.
The building has a shared secure entrance, and the unit includes one reserved space in the garage. The property is zoned CBD-6 Urban Core Neighborhood Mixed-Use District.
Key Highlights
- 4,898‑square‑foot office condominium
- Reception, conference room, open and private offices, kitchen, and restrooms
- One reserved garage parking space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,197
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,443,940
$1.4M
Cap Rate 7%
$1,031,386
$1.0M
Cap Rate 9%
$802,189
$802.2K
Market Conditions
NOI Build-Up for 4,898 SF
Gross rent
$111.7K $22.80/SF
− Vacancy
−$15.4K −$3.15/SF
EGI
$96.3K $19.65/SF
− OpEx
−$24.1K −$4.91/SF
NOI
$72.2K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,443,940
Cap Rate 7%
$1,031,386
Cap Rate 9%
$802,189
Alternative Uses
Best Use
Office B
$1.03M
$902.5K – $1.20M
NOI $72,197 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,144 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,016
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office unit - The workspace includes reception, conference, open and private office areas, a kitchen, and restrooms.
Where is this office unit located?
The property is located at 747 Magazine Street #6 New Orleans, LA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,898‑square‑foot office condominium; Reception, conference room, open and private offices, kitchen, and restrooms; One reserved garage parking space
