Fully Leased Garden Office Investment

Office for Sale
Catylist Listing ID: 30147830
Property Subtypes: Business Park, Office Building
Building Size (RSF): 3,574 SF
Gross Building Area: See Agent
Sale Price: $350,000
Unit Price: $97.93 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.48%
Average Occupancy Rate: 100
Last Updated: 8/11/2017

Overview / Comments

Fully Leased 3 Suite Garden Office Building.

Suite A (1,124 SF): Occupied by a long term Tenant that has been in the suite for over 8 years. Leased at $1,150 per month.

Suite B (1,422 SF): Occupied by a Tenant who began occupancy in 2016. Leased at $1,050 per month.

Suite C (1,028 SF): Occupied and leased by Owner's Company, which has occupied the suite for over 9 years. Owner wishes to continue occupying and leasing the suite upon sale. Leased at $1,000 per month.

This building has stayed fully leased since it was built. The small size of the suites makes them easy to lease. When Suite B became available in 2016, a lease was signed with new tenant before previous tenant moved out.

Located right off S. Sherwood Forest Blvd near I-12.

Gross Income: $38,400. Annual Expenses: $8,735. NOI: $29,655

Attachments & Media

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $4,515 (Annual)
Potential Rental Income $38,400 (Annual)
Net Operating Income $29,655 (Annual)
Gross Operating Income $38,400 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 43
Tax ID/APN: 3137279
Property Located Between: Bricksome & Justice Ave
Property Visibility: Good
Parking Ratio: 5.3 (per 1000 SF)
Total Parking Spaces: 19
Legal Description: Lot 88, Wellington Park

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,972 94,388 213,370
Median Age: 32.79 36.48 35.64
Households: 6,879 39,691 87,152

Contact

Photograph of Listing Agent

Joey C Canella

SVN - Graham, Langlois & Legendre, LLC Baton Rouge, LA 70808
LACDB Member
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