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.
|
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 |
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 |
|
© Copyright 2001-2023 Moody's. All Rights Reserved.
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.
|
