1572 Magazine St - Specialty FOR SALE


New Orleans, LA 70130- Lower Garden District
$2,375,000 USD
504-301-1002
1572 Magazine St, New Orleans, LA for Sale
$2,375,000 USD
Specialty - FOR SALE
1/31
null | Request Cap Rate

1572 Magazine St
New Orleans, LA 70130
Lower Garden District


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,375,000 USD

PRICE/SF

$385 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LGD Hospitality

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

-

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,988 SF

ZONING

HU-B1

APN/PARCEL ID

1-01-1-044-17

ASK ABOUT THIS PROPERTY

Ben Jacobsonben + burkaMore Info
504-301-1002

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Ben Jacobsonben + burkaMore Info
504-301-1002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.