Description
Golden opportunity to own THE gem of Magazine Street, on the most trafficked stretch of the corridor, amid all the restaurants, retail, businesses and entertainment! Iconic Art Deco 13,412 sq ft building houses 4 commercial spaces on ground floor, totaling 7,048 sq ft, and 4 luxury residential units, totaling 6,364 sq ft with 684 sq ft balcony. Generating gross income of over $340,000 annually. Zoned HU-B1, offering endless tenant possibilities. Commercial tenants currently include a jewelry store, gym, bubble tea shop and bakery. Residential units range from 2-3 bedrooms/2 bath and have 11 ft. ceilings, original hardwood floors throughout, plentiful large double-paned sound-reducing windows, stainless-steel appliances and washer/dryer in each unit. 100% occupied. Centrally located in Uptown New Orleans, property is less than 1/2 a mile from St. Charles Ave and a few miles from the French Quarter, tourist attractions and interstate. Preliminary research shows zoning would allow a 2,000 sq ft. third floor addition and rooftop deck. Possible condo conversion. All zoning/plans to be verified by buyer. Contact agent for more information.
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Listing Office: BHHS- United Properties
