Catylist ID:
#30833438
| Catylist Listing ID: | 30833438 |
| Property Subtypes: | Governmental, High-Tech, Institutional, Medical, Mixed Use, Flex Space, Net Leased, Office Building, Other |
| Building Size (RSF): | 5,800 SF |
| Sale Price: | $1,060,000 |
| Unit Price: | $182.76 PSF |
| Property Use Type: | Investment, Vacant/Owner-User, Business |
| Class of Space: | Class A |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 9.0% |
| Last Updated: | 5/25/2023 |
Overview / Comments
|
OWNERSHIP HAS AGREED TO SELL AS OF JULY 1, 2023, NEW DOCTOR IN FRONT BUILDING WILL BE COMPLETED WRITTEN OFFER HAS PRODUCED A PRICE REDUCTION FROM $1,149,000.00 TO $1,060,000.00 Buyer can occupy rear building that is 2,800 sf. and receive $64,000.00 annually from front tenant, who pays the net property taxes, insurance. This is a High Profile location, facing N. Causeway Blvd., with 2,800 sf. for a user or another tenant. The front 3,000 sf. building has been leased as of January 1, 2023-December 31, 2028, to a Chiropractic business on a Five (5) year primary lease term, plus Three (3) Five year renewal options. Front Building: Actual Income on 3,000 sf. Average Base Rent: $64,000.00 per year; Actual Triple Net Charges are for fiscal year 2023 are estimated to be ($ 4.00 psf.) or $12,000 dollars for 2023 for front building. Rear Building can be occupied by buyers business/a user, or can do a Proforma on 2,800 sf., for a tenant, with an Average Base Rent: $33,600.00 per year; Actual Triple Net Charges are for fiscal year 2023 are estimated to be ($.00 psf.) or $11,200.00 dollars for 2023 for rear building. |
Attachments & Media
Current Tenants
| Tenant Business Name | Chiropractic Services |
| Is Renting? | Yes |
| Annual Revenue | $64,000 (Annual) |
| Suite Number | 2480 A |
| SF of Space Occupied | 3,000 SF |
| Current Rent | $5,333 PSF (Annual) |
| Lease Expiration | 12/2028 |
| Options | Three (5) Year Renewal Options. Increases of Three (3% each year for every year of the renewal term). |
| Tenant Notes | Tenant is paying Triple Net Charges |
| Tenant Business Name | User or Proforma Tenant |
| Annual Revenue | $33,600 (Annual) |
| SF of Space Occupied | 2,800 SF |
| Tenant Notes | This space in the rear building can be occupied by new owners business or can lease said rear building to tenant. Proforma only projected a Base Rent of: $12 psf. plus triple net charges. Could be more pending Tenant improvement allowance. |
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Saint Tammany |
| Tax ID/APN: | dddb0951-989d-477f-bedf-318211a7b2c2 |
| Zoning: | HIGHWAY COMMERCIAL |
| Property Located Between: | N. Causeway Boulevard, Hwy. 22, and I-12 |
| Property Visibility: | Excellent |
| Total Number of Buildings: | 2 |
| Roof Type: | Gable |
| Exterior Description: | Brick, Stucco, and Metal. |
| Parking Type: | Surface |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Zoning Description: | HC Commercial |
| Lot Frontage: | 147.85' |
| Lot Depth: | 280' |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Ingress/Egress, Utilities |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,273 | 36,886 | 67,107 |
| Median Age: | 46.03 | 42.53 | 40.01 |
| Households: | 2,318 | 14,220 | 25,178 |
| © 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. |
