5924 Magazine StNew Orleans, LA 70115

Property Details for 5924 Magazine St

Year built

1920

Lot size

0.12 AC

Property size (Sq ft)

3,514 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

615102715

APU

615102715

Description

This exceptional 2,000-square-foot retail space is ideally located at 5924 Magazine Street in New Orleans, Louisiana (zip code 70115). Currently configured as a fitness studio, this single-tenant property presents a versatile opportunity for a variety of businesses. The space benefits from its existing layout, which is well-suited for low-traffic retail uses such as a clothing boutique or pop-up art gallery. The property's attractive features include access to a beautifully landscaped courtyard, enhancing the overall appeal and providing a pleasant environment for both tenants and customers. The property is currently occupied, so all showings require advance notice and coordination. Please allow 24 hours for scheduling. The existing tenant's fixtures, furniture, and equipment (FF&E) may be available for purchase separately, offering a potential advantage for a new tenant. The property's Assessed Parcel Number (APN) is 615102715. This location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in a vibrant New Orleans neighborhood. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $557,255

  6.5%

  $514,390

  7%

  $477,647

• Comparable approach

  Method

  Valuation

  Relative Method

  $268,051

  Geo Method

  $249,810

• Alternative Use

  Use

  Valuation

  Residential

  $637,843

  Hospitality

  $584,261

  Educational

  $486,098

  Medical

  $502,816

  Retail

  $756,153

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9216

Longitude

-90.1205

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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