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Magazine Street Retail for Lease 5924 Magazine St 2,000 SF of Retail Space Available in New Orleans, LA 70115
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,000 SF | 3-5 Years | $20.00 /SF/YR $1.67 /SF/MO $40,000 /YR $3,333 /MO | Triple Net (NNN) |
1st Floor
Currently operating as fitness studio which is an excellent use of this space and the demographics in the area. Other great uses: clothing boutique, pop up art gallery, or other low traffic retail uses. Tenant has access to the beautifully landscaped courtyard! Business is still in operation, do not disturb. All showings must be made with listing agent and allow 24 hours for any appointment.
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 2,000 SF | Gross Leasable Area | 2,000 SF |
| Property Type | Retail | Year Built | 1950 |
| Property Subtype | Storefront Retail/Office |
| Total Space Available | 2,000 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 2,000 SF |
| Year Built | 1950 |
ABOUT THE PROPERTY
This mixed-use building offers prime retail space on the first floor and apartments on the second floor. The ground floor is ideal for a variety of low-traffic retail concepts such as a clothing boutique, art gallery, or similar uses. The second floor includes 2 fully-furnished residential units. Both units are 1BR/1BA, 962 SF, and include charming features like hardwood floors, renovated kitchens, and large windows overlooking Magazine Street. Tenants also enjoy access to a courtyard and shed, adding to the property’s appeal. All showings must be scheduled with the listing agent with at least 24 hours’ notice.
NEARBY MAJOR RETAILERS
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Magazine Street Retail for Lease | 5924 Magazine St
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