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    5000 Magazine St New Orleans, LA 70115

    Sponsored
    For Sale
    $1,000,000

    Uptown New Orleans development land, $1M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 4,200 square foot vacant lot presents a prime development opportunity in New Orleans' vibrant Uptown neighborhood. Located at the highly visible corner of Magazine and Robert Streets, this fee simple property boasts a HU-B1 zoning designation, allowing for diverse commercial, mixed-use, or residential projects. The location offers unparalleled accessibility and visibility, situated amongst a thriving mix of established businesses and institutions. Nearby amenities include popular restaurants such as Tito's Ceviche & Pisco and Pizza Domenica, as well as St. Katharine Drexel Preparatory School, ensuring high foot traffic and a strong local community. The lot's zoning permits a three-story building up to 40 feet in height, eliminating the need for off-street parking. This presents a unique chance to capitalize on the area's growth and create a significant return on investment. The asking price is $1,000,000. Potential buyers are responsible for verifying permitted uses with the relevant authorities. This is a rare opportunity to acquire a substantial commercial and residential development site in a highly desirable location. The property's size and zoning flexibility make it ideal for a variety of projects, catering to the area's diverse needs and market demands. Seize this chance to build your vision in the heart of Uptown New Orleans.

    Property Features for 5000 Magazine St

    General Information

    Property type
    Land

    HighLights

    • 4,200 SF vacant lot in Uptown New Orleans.
    • Located on the highly visible corner of Magazine and Robert Streets.
    • HU‑B1 zoning allows for diverse commercial, mixed‑use, or residential development.
    • Three‑story building (up to 40 feet) permitted, eliminating off‑street parking requirements.
    • Asking price: $1,000,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.109102412861
    Latitude
    29.92032200023

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    FAQs

    What type of property is this?
    Land - Uptown New Orleans development land, $1M
    Where is this land located?
    The property is located at 5000 Magazine St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: 4,200 SF vacant lot in Uptown New Orleans.; Located on the highly visible corner of Magazine and Robert Streets.; HU-B1 zoning allows for diverse commercial, mixed-use, or residential development.
    (504) 301-1002
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    5000 Magazine St New Orleans, LA 70115
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    New Orleans, LA 70115
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5000 Magazine St New Orleans, LA 70115
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