3947 Magazine St New Orleans, LA 70115-2665

This exceptional Class A, 1,230 sq ft storefront at 3947 Magazine St, New Orleans, LA 70115, presents a compelling investment opportunity. Boasting a 100% occupancy rate with a corporate-guaranteed, single-tenant NNN lease to Rowan, Inc., the lease features a 7-year term with 8 years remaining, and 3% annual rent bumps. The property, built in 1940 and renovated in 2022, generates a strong NOI of $75,000, yielding a 6.52% cap rate at an asking price of $1,150,000 ($934.96/sq ft). The fee-simple ownership offers a stabilized investment with a 1031 exchange option. Located in a prime retail corridor, this property benefits from high foot traffic and proximity to numerous high-end boutiques and restaurants, attracting both local residents and tourists. The HU-B1 zoning ensures flexibility for future uses. This is a rare opportunity to acquire a high-performing, well-located retail asset in a thriving New Orleans market.