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1418 Magazine St
New Orleans, LA 70130
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Prime Garden District Mixed-Use Property at 1418 Magazine St
- The entire downstairs unit is currently utilized as a restaurant, leased through 2026 by Surrey's Cafe, which has been there for over 18 years
- This property is fully occupied with potential for rent increases
- 1418 Magazine St is a mixed-use property comprising 3 fully-occupied units: 1 commercial and 2 residential
- The residential units comprise the entire second foor, both with balconies and exterior space overlooking Magazine Street
- Located in the heart of the Garden District, it is in close proximity to New Orleans
EXECUTIVE SUMMARY
Owner- Agent
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,174 SF
Building Class
C
Year Built
1950
Price
$925,000
Price Per SF
$291.43
Cap Rate
6.40%
NOI
$59,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.91
Lot Size
0.08 AC
Zoning
HU-RD2 (Legal NonConform) - Located Magazine Street in the heart of the Lower Garden District
PROPERTY TAXES
| Parcel Number | 1-01-1-041-03 | Improvements Assessment | $82,200 |
| Land Assessment | $13,600 | Total Assessment | $95,800 |
PROPERTY TAXES
Parcel Number
1-01-1-041-03
Land Assessment
$13,600
Improvements Assessment
$82,200
Total Assessment
$95,800
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