5000 Magazine St New Orleans, LA 70115
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 5000 Magazine St
- Property type
- Commercial real estate
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.109102412861
- Latitude
- 29.92032200023
