+/-3,000 SF Retail w Drive Thru

Retail-Commercial for Sale
Catylist Listing ID: 30415937
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 2,167 SF
Gross Building Area: 3,081 SF
Gross Land Area: 0.68 Acres
Sale Price: $540,000
Unit Price: $249.19 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/17/2019

Overview / Comments

Initially designed, built and used for Fast Food this facility sits on +/-29,500 SF with 127 feet of frontage along Hwy 190. With nearly 22,000 cars per day this property has great potential for any retail use. The facility has undergone minor changes to accommodate an array of various retail tenants over the last 20 years since construction and is currently used as a Flex Office/Industrial facility.

The building footprint is 3,081 with the main area of retail operations being 2,167 SF which includes the drive thru window and 36 parking spaces. The interior is currently comprised of a reception area, retail counter, office bullpen, conference room, private office, break room, restroom, and interior shop area which can be converted to many uses including a walk-in kitchen. The rear of the facility holds a 346 square foot storage area which is accessed from the interior, as well as a single overhead door (7' x 12') leading out into a covered shop.

The back of the building is improved with a 914 square foot covered shop that is partially enclosed. This area is on slab and is included in the overall gross building area calculation as warehouse space. Additional site improvements include a concrete drive and parking lot, 150 square foot enclosed storage building, fenced in yard with two metal rolling gates, fuel fill station, on-site septic and water system, and signage.

The site is 29,458 square feet, or 0.68 acres. The site is irregular-shaped with 126.53 feet of frontage on Collins Boulevard.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Taxing Authority: St Tammany Parish
Tax ID/APN: 1070142816
Zoning: I-1
Retail Clientele: General, Family, Business, Traveler
Property Visibility: Excellent
Largest Nearby Street: Hwy 190
Feet of Frontage: 126
Traffic/Vehicle Count: 21,796
Highway Access: Frontage on Hwy 190 near the Hwy 190 Bypass and Hwy 25 intersection
Site Description: The subject's site is 29,458 square feet, or 0.68 acres. The site is irregular-shaped with 126.53 feet of frontage on Hwy 190 N Collins Boulevard.
Area Description: A growing corridor, North Covington has been increasing its area roof tops and multi family units for the last 24 months with new subdivisions and apartments within a 1 mile radius of this location. The increase traffic count year over year and the planned improvements such as lane widening for Hwy 190 are all indicative of the growth trend. Wendy's, Taco Bell, and Waffle House are all relatively new establishments on the near hard corner within the last 3 years.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,167 SF
Property Condition: Good
Year Built: 1995
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Stucco, Wood Frame
Total Parking Spaces: 36
Parking Type: Surface
Parking Description: Adequate paved lot with drive thru capacity
Sprinklers: None
Zoning Description: Currently I-1 with the opportunity to change zoning to any other commercial use. The purpose of the I-1 Industrial District is to provide for the location of industrial uses of moderate size and intensity along major collectors and arterials in such a fashion and location as to minimize the conflict with nearby residential uses.
Water Service: Municipal, Well
Sewer Type: Municipal, Septic
Legal Description: A certain parcel of land situated in Section 45, Township 6 South, Range 11 East, St Tammany Parish, State of Louisiana

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,334 18,820 47,775
Median Age: 33 39.89 39.18
Households: 1,293 7,494 18,285

Contact

Photograph of Listing Agent

Bradley Cook

Stirling Properties
Covington, LA
LACDB Member
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