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1582 Magazine St
New Orleans, LA 70130
Asking Price
$2.19M
Asset Type
Office
Class
Class B
What's Special
1582 Magazine St, New Orleans, LA 70130 <ul><li>5,856 SF building, two floors; two units</li><li>Ground floor office/co-working (~3,800sf)</li><li>Second floor licensed commercial STR (~2,000sf)</li><li>Fully renovated in 2014; updated in 2020; new roof in 2022</li><li>Zoned HU-B1</li><li>Located in New Orleans Lower Garden District; Magazine St. frontage</li><li>Strong cash flow for investors; office can be vacated for owner-occupant</li></ul>
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NOI
$80,000
Cap Rate
3.64%
DSCR
0.61
Underwater
Cash-on-Cash
-7.64%
Monthly Payment
$10,859.662
Annual Cash Flow
$-50,315.948
