2850 Magazine StNew Orleans, LA 70130

Property Details for 2850 Magazine St

Year built

1920

Lot size

0.13 AC

Property size (Sq ft)

5,000 SF

Property type

Retail properties

Property subtype

Retail space

APN

411202214

APU

411202214

Description

This exceptional 4,920 square foot retail storefront, located at 2850 Magazine Street in New Orleans, Louisiana, presents a rare investment opportunity. Situated on a vibrant stretch of Magazine Street, this single-story building boasts 41 feet of prime storefront frontage featuring large, double glass roll-up doors, ensuring optimal visibility and accessibility for customers. A complete historic renovation in 2014 modernized all plumbing, electrical, mechanical, and sprinkler systems, seamlessly blending modern functionality with the building's historic charm. The property sits on a 5,658 square foot lot and is zoned HU-B1. The asking price is $2,100,000, translating to $426.83 per square foot. Annual real estate taxes are approximately $20,000, and hazard insurance is approximately $8,750 per year. Currently occupied by a tenant on a short-term lease, lease terms are available upon request. This turnkey property offers an unparalleled location amidst thriving businesses, restaurants, and cultural attractions, making it ideal for businesses seeking high visibility and customer engagement in a highly desirable New Orleans neighborhood. The property consists of one building with one unit.

• CAP approach

  CAP return

  Valuation

  6%

  $1,165,574

  6.5%

  $1,075,914

  7%

  $999,063

• Comparable approach

  Method

  Valuation

  Relative Method

  $961,139

  Geo Method

  $895,734

• Alternative Use

  Use

  Valuation

  Residential

  $907,574

  Hospitality

  $831,333

  Educational

  $691,659

  Medical

  $715,447

  Retail

  $1,075,914

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9254

Longitude

-90.0834

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].