Government leased building, Covington, La. 8% CAP
Office
for Sale
| Catylist Listing ID: |
29587725 |
| Property Subtypes: |
Governmental
|
| Building Size (RSF): |
15,682 SF
|
| Gross Land Area: |
1.30 Acres
|
| Sale Price: |
$2,821,533 - 2,824,533 |
| Unit Price: |
$179.92 - 180.11 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
Dept. of Social Services |
| Class of Space: |
Class B |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
7.5% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
4/9/2024 |
Overview / Comments
The Tenant has been in this building for several years, recently renewed for another five (5) years
They have renewed in five year renewals with the next renewal is mid 2026
Located just off of Hwy 190 just off of I-12 in Covington
|
Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Saint Tammany |
| Tax ID/APN: |
1071294172 |
| Zoning: |
COMMERCIAL |
| Market Type: |
Medium |
| Side of Street: |
South |
| Road Type: |
Paved |
| Property Visibility: |
Good |
| Transportation: |
Highway |
| Highway Access: |
I-12 and Hwy 190 |
| Site Description: |
1.3 acres 143 x 396 |
| Area Description: |
HIGH DEMAND BUSINESS PARK |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
15,682 SF |
| Year Renovated: |
2010 |
| Construction/Siding: |
Brick |
| Parking Type: |
Surface |
| Parking Description: |
75 Lot |
| Total Parking Spaces: |
75 |
| Heat Type: |
Electricity |
| Heat Source: |
Central |
| Air Conditioning: |
Other |
| Internet Access: |
Cable, ISDN, T1/T3 |
| Zoning Description: |
Commercial |
| Lot Frontage: |
143 |
| Lot Depth: |
396 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,021 |
34,044 |
78,199 |
| Median Age: |
37.02 |
41.82 |
39.78 |
| Households: |
2,681 |
13,276 |
29,519 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Louisiana Commercial Database, LLC nor
Moody's assume any liability for errors or omissions.
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