Although the station is named after Magallanes, it also serves passengers from Kayamanan-C and barangays Dasmariñas, Pio del Pilar, and San Lorenzo in Makati, and those from Taguig.

Its opening was delayed due to inclusion of additional work orders by Department of Transportation and Communications (DOTC), including the Tramo Flyover in Pasay.

It is also close to some prominent business headquarters and institutions, like those of the Philippine operations of Levi's and GlaxoSmithKline, schools such as Assumption College San Lorenzo, Makati Hope Christian School, and Colegio San Agustin-Makati, the upscale Paseo de Magallanes, Wilcon IT Hub, and Studio 300 bowling alley.

Passengers may board jeepneys under the Magallanes Interchange, wherein these go to various locations in Metro Manila, such as northern and western Makati, Makati Central Business District, Taguig, Pasay, Parañaque, and Muntinlupa, and at San Lorenzo Place, where northbound jeepneys plying Chino Roces Avenue depart.

Passengers may also take a short walk to EDSA railway station, located below the Magallanes Interchange and west of Chino Roces Avenue, to take the PNR Metro Commuter Line.