$1,025,000
$1,150,000
10.9%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 03/21/2025
Key Details
Sold Price $1,025,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 2344170
Sold Date 03/21/25
Construction Status Repairs Cosmetic,Updated/Remodeled,Resale
HOA Y/N No
Year Built 1942
Property Description
3947 Magazine Street was recently leased out to Rowan, Inc. as their first store in the New Orleans market. Rowan Piercing Studio performs ear piercings using licensed nurses. The corporately guaranteed lease term expires in January of 2030 and follows annual rental increases of 3%. The property is offered at $1,175,000, for a 6.4% capitalization rate. This stretch of Magazine Street is centrally located, and easily accessible for Uptown and Garden District Residents alike.
Location
State LA
County Orleans
Community Common Grounds/Area
Zoning HU-B1
Interior
Fireplace No
Exterior
Parking Features None
Community Features Common Grounds/Area
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Construction Status Repairs Cosmetic,Updated/Remodeled,Resale
Others
Tax ID 701153947MagazineST
Financing Cash
Special Listing Condition None
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Bought with Ben & Burka
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
6803 Press Drive # 170, Orleans, Louisiana, 70126, United States