47
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$1,700,000
Est. payment /mo
4,584 SqFt
Active
5206 MAGAZINE ST New Orleans, LA 70115
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,584 sqft
Price per Sqft $370
MLS Listing ID 2494950
HOA Y/N No
Year Built 1900
Lot Size 5,850 Sqft
Acres 0.1343
Property Description
Incredible investment opportunity in the heart of Magazine Street's vibrant commercial corridor! This mixed-use property offers 5,347 total square feet (3,173 living) on a deep 45' x 130' lot. Two long-term commercial tenants anchor the street-level frontage, offering strong visibility and consistent rental income. The residential portion includes three apartments: a rented 1-bedroom unit, a large, newly renovated 2-bedroom, 1.5-bath unit with a bonus office/exercise room and 2024 updated kitchen (owner occupied), and a third 1-bedroom, 1-bath upper unit in need of a full renovation—an excellent value-add opportunity. Foundation piers were replaced in 2024. With over $75,000 in current annual rents and additional income potential, this property offers both performance and upside in one of New Orleans' most sought-after locations. Zoned for mixed-use and surrounded by restaurants, boutiques, and neighborhood amenities, this is your chance to own a high-performing property in the heart of Magazine Street.
Location
State LA
County Orleans
Zoning HU-B1
Interior
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Additional Building Living Quarters
Others
Tax ID 614123310
Special Listing Condition None
Virtual Tour https://go.nolaremarketing.com/5206MagazineStMLS
Listed by O'Dwyer Realty