Investment Sale - 100% Leased Office and Storage Building

Office for Sale
Also listed as Industrial
Catylist Listing ID: 30507783
Property Subtypes: Office Building
Building Size (RSF): 8,000 SF
Gross Building Area: See Agent
Sale Price: $550,000
Unit Price: $68.75 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/19/2021

Overview / Comments

LOCATION
Located behind Elmwood Center, in the first block of Powell Street near corner of Elmwood Park Blvd; backs up to AMC Palace Theater parking lot.

BUILDING
8,000 square feet (40’ x 100’) on two floors, configured for use for up to six tenants: four inner-connected office suites up and two office/storage suites down, situated on a 12,524 SF lot (62’ x 202’), zoned M-1 (light industrial).

Walk up access via front and rear stairs. Construction is steel frame, concrete block and metal walls, brick façade, metal roof. Each suite separately metered for electrical with independent HVAC systems.

CONDITION
Post IDA repairs and upgrades to façade and replacement of HVAC units

LEASES
Building is presently at 100% occupancy, leased to four tenants. Leases currently generate $74,400 annually.

PARKING
Sixteen off-street spaces: four in front and twelve in the paved and fenced rear lot.

PRICE
$550,000 ($68.75 PSF)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Tax ID/APN: JP-29682

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,912 126,513 321,387
Median Age: 40 41.29 39.4
Households: 3,446 55,264 134,034

Contact

Photograph of Listing Agent

Keith G Henry

Max J Derbes Inc New Orleans, LA 70123-3229
LACDB Member
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