3138 Magazine St, New Orleans, LA 70115 For Sale

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.