Corner Magazine Street Redevelopment Opportunity

Retail-Commercial for Sale
Also listed as Vacant Land, Office
Catylist Listing ID: 30331186
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail
Building Size (RSF): 3,100 SF
Gross Land Area: 7,920 SF
Sale Price: $1,500,000
Unit Price: $483.87 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 3,100 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/17/2018

Overview / Comments

Rare, corner redevelopment site at the intersection of Antonine & Magazine, in a retail corridor increasingly populated with regional and national retailers in recent years.

Businesses in the immediate vicinity of the site include Lilette, Bouligny Tavern, Baru Bisto & Tapas, Jade Austin, Verdure Olive Oil Co., Wedding Belles, WRBH, Harry's Hardware, Cavan and Empire Antiques. And regional and national retailers in the Louisiana-Napoleon stretch of Magazine Street include CVS, Mignon Faget, CycleBar, Pure Barre, Billy Reid, Marine Layer, Izzo's Illegal Burrito, Sherwin-Williams and Warby Parker. The property also sits in close proximity to Touro Infirmary's campus, making it ideal for repurposing into a medical office use.

This site presents the opportunity to redevelop the existing structure (originally a 7-Eleven) or scrape and start from scratch. Lot dimensions are 66' (Magazine frontage) x 120' (Antonine frontage). Open-ended HU-B1 zoning allows for a variety of possible uses. There are 14 parking spaces in the current configuration, with curb cuts and exits onto both Magazine and Antonine Streets.

Please do not disturb existing business, which will be relocating following the sale of the subject property.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 41046009
Zoning: HU-B1
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Located Between: Antonine & Foucher
Property Visibility: Excellent
Largest Nearby Street: Magazine
Feet of Frontage: 66
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,100 SF
Property Condition: Average
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Lot Frontage: 66
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,566 172,546 397,383
Median Age: 37.11 36.24 36.88
Households: 13,435 73,802 163,229

Contact

Photograph of Listing Agent

Jonathan D Shaver

RE/MAX Commercial Brokers Inc Metairie, LA 70002
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.