MAGAZINE STREET RETAIL BUILDING FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30393045
Property Subtypes: Free-Standing Building, Garden Center, Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 4,920 SF
Gross Building Area: 5,000 SF
Sale Price: $2,500,000
Unit Price: $508.13 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 4,920 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/20/2019

Overview / Comments

Rare opportunity to purchase 4,920 sq ft open historic retail building. Located on prime stretch of Magazine in the heart of the historic lower Garden District with vibrant heavy foot traffic.

Turnkey Retail Opportunity

41' of prime storefront featuring large, double glass roll-up doors.

Complete Historic Renovation in 2014 including all plumbing, electrical, mechanical, sprinkler systems.

Site - 46' x 123'

4,920 Sq/Ft

Real Estate Taxes - Approximately $20,000 per year

Hazard Insurance- Approximately $8,750 per year

Zoning - HU - B1 Zoning providing for a multitude of permitted uses
( https://czo.nola.gov/article-12/ ).

Closing to occur on or after August 1, 2019

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Zoning: HU-B1
Retail Clientele: General, Family, Business
Property Located Between: Louisiana and Washington
Property Visibility: Excellent
Largest Nearby Street: Magazine
Feet of Frontage: 46
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,920 SF
Property Condition: Excellent
Year Renovated: 2014
Roof Type: Gable
Exterior Description: Large open retail frontage with glass rollup doors
Sprinklers: Wet
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,852 191,098 399,430
Median Age: 36.48 36.11 36.83
Households: 14,715 81,350 164,562

Contact

Photograph of Listing Agent

Troy Hagstette

Property South, LLC New Orleans, LA 70115
LACDB Member
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