Vacant Lots - Magnolia Cove/North Monroe

Vacant Land for Sale
Catylist Listing ID: 30770374
Property Subtypes: Hospitality, Office, Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 3.15 Acres
Sale Price: $534,983
Unit Price: $169,835 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/1/2021

Overview / Comments

Multiple Lots on Magnolia Cove offering a total of 3.15 +/- Acres within the cul-de-sac roadway accessing several commercial properties and ties directly to Highway 165 North.

The lots lie along the north and south sides of Magnolia Cove, with each lot having a 25' deep drainage servitude at the rear.

Much of the medical office use was originally influenced by the nearby, former St. Francis North Hospital campus. The lots were subject to existing deed restrictions that specified allowable uses to only be for medical office. These restrictions were to be in force so long as the adjoining hospital remained in the HCA Health Services ownership. As the hospital is now closed and sold, and with the subject lots all being owned by St. Francis Medical Center Inc., it is assumed that these deed restrictions are no longer enforceable.

For more information, please contact Jennifer Causey at 318-261-0892.

Additional Details

Nearest MSA: Monroe
County: Ouachita
Taxing Authority: Ouachita Parish
Tax ID/APN: 29503, 29465, 29515, 29461, 29464, 29458 (partial)
Property Located Between: Medical Park Drive and Finks Hideaway Rd
Property Visibility: Excellent
Legal Description: Lots 3, 4, 5, 9, 10 and the eastern 97' of Lot 2, all in North Monroe Medical Park Unit 2.
Largest Nearby Street: Sterlington Rd/Hwy 165 North
Feet of Frontage: 633
Highway Access: Hwy 165
Airports: Monroe Regional Airport - 16 min (7.4 mi) via Old Sterlington Rd
Site Description: Total Area: 3.148 +/- Acres. The individual lots are somewhat rectangular in shape. Topography: Adequate for intended use. Drainage: Adequate in time of normal rainfall. Utilities: All Available. Flood Zone: Zone X. Access: Direct access to Magnolia Cove. Street Type: Magnolia Cove is a 2-lane, asphalt roadway. Zoning: B-4 Heavy Business District. Building Height Limit: 40'. Setbacks: Front Yard: 25', Side Yard: 10', Side Corner: 20', Rear Yard: 10'. Site Condition: Currently Vacant. Servitudes/Encroachments: Typical utility servitudes are in place along the frontage of each lot, although a 25' deep drainage servitude is in place at the rear of each lot. (See Site Plan)
Area Description: Surrounding Land Uses: Office, medical office, other assorted general commercial uses.
Lot Frontage: 633 Feet Total
Lot Depth: Varied
Development Name: Magnolia Cove Lots
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,444 16,751 56,121
Median Age: 31.42 34.6 35.1
Households: 1,159 7,028 23,406


Photograph of Listing Agent

Jennifer Causey

John Rea Realty Monroe, LA 71201
LACDB Member
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