215 Columbia, Former Brunner Art Gallery

Office for Sale
Catylist Listing ID: 30367539
Property Subtypes: Executive Suites, Governmental, High-Tech, Institutional, Medical, Mixed Use, Net Leased, Office Building, Other
Building Size (RSF): 8,140 SF
Gross Building Area: See Agent
Gross Land Area: 6,000 SF
Sale Price: $1,290,000
Unit Price: $158.48 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Columbia Co-Working (Former Brunner Gallery)
Class of Space: Class A
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/15/2019

Overview / Comments

Updated May 3, 2019

Downtown 2 story office building with elevator for sale or lease.

Great opportunity for an owner/user with 50% occupied. Available spaces on both floors or the entire first floor can be made available.

Entire 2nd floor can be 100% leased with existing tenants, and the entire ground floor can be made available for buyer, or other tenants.

Actual Current Income can atleast double if ground floor is leasedback by buyers company, or downstairs could be any professional office or retail user.

History of Income and expenses.
2018 NOI was $67,244 with 50% vacancy.
2018 Expenses - $32,920 annually

Located in the heart of Charming 200+ year old downtown Covington, Louisiana close to Covington Courthouse, Southern Hotel, Restaurants, etc...

Columbia Street is home to many of the city block parties, art fests, and events.

2 private parking spaces available.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $17,000 (Annual)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Zoning: HIGHWAY COMMERCIAL
Property Located Between: Boston and Rutland
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 2
Roof Type: Arched
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,842 26,954 56,383
Median Age: 37.46 39.02 39.84
Households: 1,629 10,588 21,467

Contact

Photograph of Listing Agent

Matthew J Organ

Organ Properties Covington, LA 70433
LACDB Member
Photograph of Listing Agent

Bryan D Pigeon

GARDNER REALTORS Mandeville Covington, LA 70433
LACDB Member
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