19,990 SF Professional Office Space

Office for Sale
Catylist Listing ID: 30705273
Property Subtypes: Business Park, Executive Suites, Coworking, Governmental, Institutional, Medical, Mixed Use, Flex Space, Office Building, Research & Development, Other
Building Size (RSF): 19,990 SF
Gross Land Area: 1.80 Acres
Sale Price: $560,000 - 1,400,000
Unit Price: $28.01 - 70.04 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: Medical Park Plaza
Class of Space: Class B
Usable Size (USF): 19,990 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/8/2021

Overview / Comments

Tenant renewed 5-Year Option!
Seller offering 10% off sales price with purchase of both buildings!

Parcel 67176 @ 1.8+/- Acres.
2 Professional Office Buildings totaling 19,990 SF.
Partially Leased. Owners will Subdivide.

Building 3424: $840,000
One Story/6-Suite Office Building/12,014 SF
Suites 1 & 2 are currently combined at 4,003.9 SF/Vacant;
Suite 3: 2003 SF/Leased; Suite 4: 2000 SF/Leased;
Suite 5: 2034 SF/Vacant; Suite 6: 1972 SF/Vacant
Building Income: $50,932/Year

Building 3420: $560,000
2-Story Office Building/7,976 SF
First Floor: Suite 10: 3,976 SF/Leased
Second Floor: Suite 31: 1,987 SF/Leased. Suite 32: 1,978 SF/Vacant.
Elevator Access. Exterior Staircase.
Building Income: $71,892/Year.

Current Yearly Income: $122,824 (9,957 SF)
Vacant Potential Income: $120,396 (10,033 SF x $12 PSF)
Total Potential Income: $ 243,220
Expenses/2020: $ 64,406 (Including Property Tax)

Flooring Systems: Carpet and Tile.
Building Plans and Site Survey Available.

For more information or to schedule a private showing, please call Jennifer Causey at 318-261-0892.

Additional Details

Nearest MSA: Monroe
County: Ouachita
Taxing Authority: Ouachita Parish
Tax ID/APN: 67176
Zoning: B-4 HEAVY COMMERCIAL DISTRICT
Property Located Between: Old Sterlington Rd and Finks Hideaway Road
Property Visibility: Excellent
Highway Access: Hwy 165
Airports: Monroe Regional Airport - 15 min (6.8 mi) via Old Sterlington Rd
Site Description: The property is a former Medical Park Plaza. The Plaza offers a total of 19,990 SF on a 1.8 +/- Acre Parcel.
Area Description: The heart of Monroe, found in the people who live here, makes it a beautiful and exciting place to visit or live. Monroe is an economic, educational, and medical hub for Northeast Louisiana, and you will find it to be a very diverse area that anyone can get accustomed to. In Louisiana, the Monroe metropolitan area is expected to see the largest percentage job growth over the next two years, thanks to public-private partnerships and cooperation at the local, regional, state, and federal levels. Monroe is the birthplace of Delta Airlines, Coca Cola, CenturyLink, and home to Louisiana Purchase Gardens and Zoo. There is something about the environment in Monroe that fosters and encourages entrepreneurial development. In 1913, Coca Cola was first bottled here by Joseph A. Biedenharn. Later, he opened the first Coca Cola bottling plant in the nation. In 1925, Mr. Biedenharn joined a group of enterprising gentlemen who purchased a crop-dusting business and added 18 airplanes, creating the largest privately-owned fleet in the world at the time. In 1929, the company became Delta Airlines, which now has over 160 million customers throughout their global network. CenturyLink has become the largest independent telecommunications provider and third largest telecommunications provider in the United States with over 18 million access lines nationwide. In 2015, CenturyLink opened its 250,000-square foot global corporate headquarters right here in Monroe, Louisiana. Other major employers in the Monroe area include, J. P. Morgan CHASE Company, Graphic Packaging, St. Francis Medical Center, Bancroft Bag, Glenwood Regional Medical Center, Vantage Health Plan, Brookshire’s, and Gardner Denver Thomas. In addition, there are three outstanding major universities and a community college within thirty minutes of our city. The University of Louisiana at Monroe, Grambling State University, Louisiana Tech University, and Delta Community College. A welcoming community, affordable housing in charming neighborhoods located near top-rated schools, quality healthcare options and a low cost of living are all key components to life in Northeast Louisiana and the region’s anchor city of Monroe. By working together, we are laying the foundation for years of growth and development. Monroe is "One City, with One Future."
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 2,000 SF
Year Built: 1994
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: Construction: Brick Veneer. Roof: NEW-2020! Parking Surface: Asphalt. Shared Parking at 85 Spaces. Handicapped accessible parking at building fronts. Covered Drive-Thru per Building. Elevator Access. Professional Landscaping and Security Lighting Systems in place.
Parking Type: Surface
Parking Description: Asphalt Surface. 85 spaces including handicapped accessible parking.
Total Parking Spaces: 85
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: DSL
Interior Description: Building 3424: One Story/6-Suite Office Building. Suites 1 & 2 are currently combined at 4,003.9 SF/Vacant; Suite 3: 2003 SF/Leased; Suite 4: 2000 SF/Leased; Suite 5: 2034 SF/Vacant; Suite 6: 1972 SF/Vacant. Building 3420: 2-Story Office Building. First Floor: Suite 10: 3,976 SF/Leased. Second Floor: Suite 31: 1,987 SF/Vacant. Suite 32: 1,978 SF/Leased. Elevator Access. Exterior Staircase. Flooring Systems: Carpet and Tile. Building Plans and Site Survey available.
Zoning Description: B-4 HEAVY COMMERCIAL DISTRICT
Lot Frontage: 213
Lot Depth: 302
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress, Water Rights, Utilities
Easements Description: Typical
Land Ownership: Owned
Legal Description: 1.8 ACS IN SECS 4 & 5 T18N R4EFROM INTERSECTION OF N/L LOT 9SQ 3 DYSART ADDN UNIT 2 & E R/WLINE OF U S HWY 165, N7E 1451.43FT, S81E 605 FT FOR POB, S81E118.34 FT, S87E 96.74 FT, S2E300 FT, S86W 66.92 FT, N81W201.13 FT, N7E 70 FT, N81W 82 FTN7E 71 FT, S81E 82 FT, N7E 159FT TO POB-BEING IN LOT 3 SQ B NORTHMONROE MEDICAL PARK*BLDG

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,444 18,551 54,326
Median Age: 31.42 34.57 35.02
Households: 1,159 7,710 22,717

Contact

Photograph of Listing Agent

Jennifer Causey

John Rea Realty Monroe, LA 71201
LACDB Member
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