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$ 4,750,000
Est. payment /mo
New
3138 MAGAZINE ST New Orleans, LA 70115
13,412 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 13,412 sqft
Price per Sqft $354
MLS Listing ID 2555122
HOA Y/N No
Year Built 1930
Lot Size 7,365 Sqft
Acres 0.1691
Property Description
Welcome to Ninth Street Market, a true trophy asset on Magazine Street—positioned on one of the corridor's highest-traffic blocks, surrounded by premier dining, retail, and entertainment. Built in 1930 and originally, a thriving New Orleans public food market, this iconic Art Deco building spans 13,412 total square feet and features a highly desirable mixed-use layout with four ground-floor commercial spaces (7,048 SF) and four luxury residential units above (6,364 SF + 684 SF balcony). The property is 100% occupied and generates over $300,000 in annual net operating income. Zoned HU-B1, the asset offers exceptional flexibility for a wide range of commercial uses. Current tenants include a jewelry boutique, fitness studio, and bakery (occupying two suites), providing a strong and diverse income stream. The 2- to 3-bedroom, 2-bath residential units offer a seamless blend of historic character and contemporary living, highlighted by 11-foot ceilings, original antique pine hardwood floors, abundant natural light, stainless steel appliances, and in-unit washer/dryers, complemented by classic Art Deco details in the color palette, tile work, and light fixtures.
Recent capital improvements include a new roof (2024), new HVAC (2024), and fresh exterior paint (2023), enhancing both curb appeal and long-term durability. Ideally located in Uptown New Orleans, the property sits less than half a mile from St. Charles Avenue and the streetcar and just minutes from the French Quarter, major tourist attractions, and interstate access. Preliminary research suggests the potential for a ~2,000 SF third-floor addition and rooftop deck, as well as a possible condo conversion (all to be verified by buyer). A premier opportunity to acquire a landmark property steeped in New Orleans history.
Recent capital improvements include a new roof (2024), new HVAC (2024), and fresh exterior paint (2023), enhancing both curb appeal and long-term durability. Ideally located in Uptown New Orleans, the property sits less than half a mile from St. Charles Avenue and the streetcar and just minutes from the French Quarter, major tourist attractions, and interstate access. Preliminary research suggests the potential for a ~2,000 SF third-floor addition and rooftop deck, as well as a possible condo conversion (all to be verified by buyer). A premier opportunity to acquire a landmark property steeped in New Orleans history.
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
Accessibility Accessibility Features
Building
Lot Description City Lot, Irregular Lot, Oversized Lot
Dwelling Type Mixed Use,Retail
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Additional Building Living Quarters
Others
Tax ID 411201920
Security Features Fire Sprinkler System
Special Listing Condition None
Listed by Crescent Sotheby's International
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