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 $1,300,000, for a 5.8% capitalization rate.
The property is on the same block as Indochino, Warby Parker, Billy Reid, Marine Layer, UnTuckit, and J. McLaughlin and is within a few blocks of high-end boutique Pilot and Powell, Tasc Performance Apparel, Lululemon, Shaya, La Petite Grocery, Lilette, Leontine Linens, Weinstein’s, and Mac Maison Antiques, as well as many other home décor, restaurants, and antique stores.
This stretch of Magazine Street is centrally located, and easily accessible for Uptown and Garden District Residents alike. Due to its location on Magazine Street, as well as its unique mix of co-tenancy, this specific area of Magazine Street also attracts many tourists.
For additional information, see linked 3947 Magazine Street Sale Brochure
ZoningHU-B1
Property Size1230 SqFt
Property TypeInvestment
Address
Address: 3947 Magazine Street
City: New Orleans
Parish: Orleans
Zip Code: 70115
Neighborhood: Magazine Street
