Elmwood Oaks Office Park

Office for Sale
Catylist Listing ID: 30800162
Property Subtypes: Business Park
Building Size (RSF): 72,926 SF
Gross Building Area: See Agent
Sale Price: $5,999,999
Unit Price: $82.28 PSF
Property Use Type: Investment
Building Name: Elmwood Oaks Office Park
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.15%
Last Updated: 3/22/2023

Overview / Comments

201 Evans Road is comprised of four buildings totaling 72,927 square feet of office space. Budgeted NOI for 2022 is $488,782. At the asking price of $5,999,999, the per foot price of $82.28 is well below market comparables. Budgeted income represents a 8.15% capitalization rate. Current occupancy is 76.77%.

The buildings are in great condition and have been professionally managed with attentive ownership for many years. The properties are well maintained. Buyer will have very limited Cap Ex exposure.

The demised spaces are smaller sized which appeals to the majority of tenants in the market. There are no large, hard to lease spaces or expensive demising costs. All spaces are first floor spaces with parking very near to the suite entrances, which is appealing to tenants in the covid environment.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Tax ID/APN: JP-129
Property Located Between: Jefferson Highway and River Road near S. Clearview Parkway
Property Visibility: Excellent
Airports: MSY
Total Number of Buildings: 4
Number of Stories: 1
Roof Type: Flat
Construction/Siding: Stucco
Parking Ratio: 3.3 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 242
Sprinklers: Wet
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,129 92,143 312,742
Median Age: 38.43 41.61 38.52
Households: 2,139 39,439 131,292


Photograph of Listing Agent

Jack Gordon

Property One Inc New Orleans Metairie, LA 70002
LACDB Member
Photograph of Listing Agent

Matt Taylor

Property One Inc New Orleans Metairie, LA 70002
LACDB Member
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