2900 Magazine St

Retail-Commercial for Sale
Catylist Listing ID: 30654890
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 12,899 SF
Gross Land Area: 11,195 SF
Sale Price: $3,500,000
Unit Price: $271.34 PSF
Property Use Type: Vacant/Owner-User
Building Name: former Belladonna Day Spa
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/14/2020

Overview / Comments

-1st floor is 6,467/sq ft
- 2nd floor is 3,000/sq ft
- X flood Zone
- $776,000 renovation in 2013

1024 6th Street (Air BnB)
Total Building 3,432/sq ft
- $1,600,000 renovation in 2018

Property overview:
Corner location comprised of three lots improved with two structures that are attached on the second floor. 9,239 sq ft situated at Magazine Street & Sixth Street in the Uptown area of New Orleans. Includes a private courtyard between the two structures with hydrotherapy garden including water features and fountains, ample decking, three outdoor showers and an outdoor jacuzzi.

Principal building is 9,467 sq ft, two story retail building that includes an upscale spa and nail salon which is 6,467 sq ft. The ground floor is primarily retail showroom with some lobby/office area, nail salon areas, facial rooms, saunas, locker rooms, kitchen / break room.

The second story is accessed via a staircase in the retail showroom, or by a staircase towards the rear of the building. Second level includes several facial rooms, massage rooms, and a hydrotherapy room. Excellent condition after extensive renovation in the past five years.

Additional structure is a 3,660 sq ft mixed-use building that includes four short-term rental apartments with BR, LR, and small kitchenette with sink, stovetop and full refrigerator. Fully renovated in 2018 and in excellent condition.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 41183261
Zoning: HU-B1
Retail Clientele: General, Family, Tourist, Recreation, Other
Property Visibility: Excellent
Feet of Frontage: 60
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Renovated: 2013
Zoning Description: Historic Urban Business District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,554 187,787 399,430
Median Age: 36.52 36.08 36.83
Households: 14,609 80,056 164,562

Contact

Photograph of Listing Agent

Stephanie Boyd

SRSA Commercial Real Estate Metairie, LA 70002
LACDB Member
Photograph of Listing Agent

Collin S Holmes

SRSA Commercial Real Estate Metairie, LA 70002
LACDB Member
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