Entity Owned 
For Sale
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Property summary
This exceptional mixed-use property at 1418 Magazine Street in New Orleans' coveted Garden District presents a compelling investment opportunity. The 3,174 square foot building boasts a blend of commercial and residential space, currently operating at full occupancy. The ground floor houses a thriving restaurant, Surrey's Cafe, under lease until 2026, enjoying a long-standing presence of over 18 years. Above, two residential units, each featuring balconies and exterior space overlooking Magazine Street, provide consistent rental income. The property sits on a 0.08-acre lot and is zoned HU-RD2 - Historic UR. With a current NOI of $59,047 and a 6.40% cap rate, this property offers a strong return on investment, further enhanced by a pro-forma cap rate of 8.00%. The asking price is $925,000, translating to $291.43 per square foot and $308,333 per unit. The prime location, coupled with the existing stable tenancy and potential for future rent increases, makes this a truly remarkable investment prospect in one of New Orleans' most desirable neighborhoods. The property's strong financial performance, combined with its location in close proximity to the Central Business District and major tourist attractions, ensures a secure and potentially lucrative investment. This is a rare opportunity to acquire a well-established, mixed-use property in the heart of the Garden District.
Property profile
VerifiedCap rate & NOI
Current use
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Restaurant
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the New Orleans market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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