MAGAZINE STREET MIXED USE

Retail-Commercial for Sale
Catylist Listing ID: 30474534
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 5,200 SF
Gross Building Area: 5,800 SF
Sale Price: $2,000,000
Unit Price: $384.62 PSF
Property Use Type: Investment
Usable Size (USF): 5,200 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/15/2019

Overview / Comments

Own a piece of Magazine St. in the Lower Garden District of New Orleans. This two level building with 32' of street frontage is currently occupied by an art gallery on the fist floor and a tenant in the second floor apartment (3 BR, 1 BA, large gallery overlooking Magazine St. and Sophie Wright Park).
ZONED HU-B1 HISTORIC URBAN BUSINESS DISTRICT.
Business (art gallery) is no for sale - building only.

Current Tenants

Tenant Business Name 1920 Magazine (art gallery)
Contact Name Suzy Lamore
Contact Title Realtor
Phone Number 504-729-8818
Industry Type Retail Trade
Is Renting? Yes

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Taxing Authority: Orleans Parish
Zoning: HU-B1 HISTORIC URBAN NEIGHBORHOOD BUSINESS DISTRICT
Retail Clientele: General, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: St. Mary & St. Andrew Streets
Property Visibility: Excellent
Largest Nearby Street: Magazine St., Prytania St., Annunciation St.
Feet of Frontage: 32
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,600 SF
Property Condition: Average
Year Built: 1850
Year Renovated: 2015
Roof Type: Other
Construction/Siding: Brick
Exterior Description: Brick creole building with second floor gallery. Retail space on first floor and apartment on second floor have separate entrances.
Internet Access: Cable
Interior Description: First floor is retail/showroom/office space. Second floor is 3 BR 1 BA apartment with large gallery overlooking Magazine St. and Sophie Wright Park.
Zoning Description: Historic Urban Business District
Lot Frontage: 32
Lot Depth: 85
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Water Rights, Utilities
Easements Description: Standard utilities
Land Ownership: Fee Simple
Legal Description: SQ 137 LOT B MAGAZINE 34 OVER 32X85 DB 1920-20HF INCL APT A 7/24/02 PERMIT #B03003254 6/13/03 FILE #18173

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,964 196,667 398,545
Median Age: 36.19 35.94 36.82
Households: 12,563 83,182 164,168

Contact

Photograph of Listing Agent

Suzy Lamore

Reve REALTORS New Orleans, LA 70115
Not a member of MCAR
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.