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1572 Magazine St - LGD Hospitality 6,169 SF Specialty Building Offered at $2,375,000 in New Orleans, LA 70130
Executive Summary
Available for sale, 1572–78 Magazine Street presents a rare opportunity to acquire a fully licensed mixed-use short-term rental complex in the heart of the Lower Garden District. The property includes seven commercial STR licenses, a ground-floor commercial unit, large rear yard, and multiple individually metered, stand-alone STR units.
Meticulously restored in 2012 and originally constructed c. 1855, the property blends historic character with modern systems. Its layout and historic pedigree make it an ideal candidate for a historic tax credit redevelopment, including the potential to unify the units, incorporate a food & beverage concept in the commercial space, and enhance the rear yard with landscaping and shared amenities to further strengthen STR performance.
The property is situated in one of the city’s most desirable STR corridors, minutes from Downtown and the French Quarter, while also anchored in the heart of the Lower Garden District at the gateway to Magazine Street’s many shopping, dining, and entertainment offerings.
Meticulously restored in 2012 and originally constructed c. 1855, the property blends historic character with modern systems. Its layout and historic pedigree make it an ideal candidate for a historic tax credit redevelopment, including the potential to unify the units, incorporate a food & beverage concept in the commercial space, and enhance the rear yard with landscaping and shared amenities to further strengthen STR performance.
The property is situated in one of the city’s most desirable STR corridors, minutes from Downtown and the French Quarter, while also anchored in the heart of the Lower Garden District at the gateway to Magazine Street’s many shopping, dining, and entertainment offerings.
Property Facts
| Price | $2,375,000 | Lot Size | 0.18 AC |
| Price Per SF | $384.99 | Building Size | 6,169 SF |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1950/2012 |
| Zoning | HU-B1 | ||
| Price | $2,375,000 |
| Price Per SF | $384.99 |
| Sale Type | Investment |
| Property Type | Specialty |
| Lot Size | 0.18 AC |
| Building Size | 6,169 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2012 |
| Zoning | HU-B1 |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 1-01-1-044-17 | Improvements Assessment | $58,360 |
| Land Assessment | $28,190 | Total Assessment | $86,550 |
Property Taxes
Parcel Number
1-01-1-044-17
Land Assessment
$28,190
Improvements Assessment
$58,360
Total Assessment
$86,550
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