Catylist ID:
#29999680
| Catylist Listing ID: | 29999680 |
| Property Subtypes: | Community Center, Fashion/Specialty, Mixed Use, Strip Center, Other |
| Building Size (RSF): | 4,224 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 16,700 SF |
| Sale Price: | $590,000 |
| Unit Price: | $139.68 PSF |
| Property Use Type: | Investment, Vacant/Owner-User, Business |
| Sale Terms: | Cash to Seller, Owner Financing |
| Last Updated: | 12/9/2019 |
Overview / Comments
|
Updated: November 14, 2019 New Price, with Bond for Deed Financing as follows: Price: $590,000.00 Downpayment: 10% or $59,000.00 Amount Financed by Seller under a Bond For Deed: 90% Interest Rate: 5.75% - 6% Amortized over 20 years, with a 60 month call Three (3) adjacent bays for New Buyer to occupy, which consist of approximately Suites B,C, & D, that total 3,364 square feet for the new owners company to occupy. Actual Income as follows: One Tenant to pay expenses in Unit A: 1,152 sf. Martial Arts hours (5-9 P.M.), Just leased April 1, 2019 for $1,100.00 per month, 36 months, plus options with 3% increases each year. Proforma Income if the 3 bays where to be leased: Total Gross Income: $4,546.48 per month or $54,557.76 minus (-) Operating Expenses of $11,058.00 NOI: $43,499.76.00 Each Year in Net Operating Income Commercially Zoned Land: 100' fronting Hwy. 59 by(X) 167'. Overview: This strip center is in an ideal location, fronts Hwy. 59, close to Interstate 12 and sits directly in front of the Mandeville Fountain Bleu High school Annual Operating Expenses: Property Taxes: $5,264.00 Property Insurance: $3,394.00 Lawn Maintenance: $2,400.00 Total Operating Expenses: $11,058.00 |
Attachments & Media
Financials
| Finance Data Year | 2017 |
|---|---|
| Real Estate Taxes - Annual($) | $5,264 (Annual) |
| Potential Rental Income | $56,784 (Annual) |
| Net Operating Income | $44,526 (Annual) |
| Gross Operating Income | $55,584 (Annual) |
| Actual or Proforma Year | Proforma |
| Lender Name | Seller Financing |
| Loan Amount | $501,500 |
| Down Payment | $88,500 |
| Annual Debt Service | $3,306 (Annual) |
| Amortization Period | 25 Years |
Current Tenants
| Tenant Business Name | AllState Insurance Agency |
| Annual Revenue | $12,672 (Annual) |
| Suite Number | c |
| SF of Space Occupied | 1,056 SF |
| Current Rent | $1,056 PSF (Annual) |
| Tenant Notes | Gross Rent: $12 psf. cam |
| Tenant Business Name | For Buyers business or tenant |
| Annual Revenue | $12,480 (Annual) |
| Suite Number | D |
| SF of Space Occupied | 960 SF |
| Tenant Notes | Base Rent: $10 + $3 psf. cam |
| Tenant Business Name | Martial Arts |
| Annual Revenue | $13,200 (Annual) |
| SF of Space Occupied | 1,152 SF |
| Current Rent | $1,100 PSF (Annual) |
| Tenant Notes | Leased just signed March 27, 2019, for 3 years, plus options. Increases in options of 3% each year thereafter initial lease term. |
| Tenant Business Name | For New Tenant or Buyers business |
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Saint Tammany |
| Tax ID/APN: | 126731 |
| Zoning: | COMMERCIAL |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Other |
| Property Located Between: | Interestate 12 & Hwy. 59 |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Hwy. 59 & Interstate 12 |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Property Condition: | Excellent |
| Roof Type: | Arched |
| Parking Type: | Surface |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Zoning Description: | HC |
| Lot Frontage: | 100+ |
| Lot Depth: | 175' |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Ingress/Egress |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 1,046 | 28,917 | 65,563 |
| Median Age: | 37.36 | 37.79 | 39.73 |
| Households: | 353 | 10,389 | 24,713 |
| © Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions. |
