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: | 1/16/2019 |
Overview / Comments
|
Updated: JANUARY 15, 2019 Great for Buyer looking for building to put his business in, and have a tenant or two to lease the other bays, to service a mortgage note or provide income. Unit A: 1,152 sf. available Unit B: 1,056 sf. Leased to Lacoste Hair Salon Unit C: 1,056 sf. Leased to AllState Insurance Agency Unit D: 960 sf. available Commercially Zoned Land: 100' fronting Hwy. 59 by(X) 167'. Owner will consider an offer with Owner Financing Available, under the following terms and conditions: Down Payment required by Owner financing: Fifteen 15%) percent down payment or ($88,500.00) dollars. Amount Owner Financed: $501,500.00 Amortized over up to Twenty-Five (25) Years, with either a 5, 7, or 10 year balloon, pending buyers financials provided. Interest Rate: Six and One Quarter (6-6.5%) calculated at 6.25% Principle and Interest Payment: $3,306.00 per month 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 Operating Expenses: Property Taxes: $5,264.00 Property Insurance: $3,394.00 Lawn Maintenance: $2,400.00 Total Operating Expenses: $11,058.00 |
Financials
| Finance Data Year | 2017 |
|---|---|
| Real Estate Taxes - Annual($) | $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 | Lacoste Hair Salon |
| Is Renting? | Yes |
| Annual Revenue | $14,400 (Annual) |
| Suite Number | B |
| SF of Space Occupied | 1,056 SF |
| Current Rent | $1,100 PSF (Annual) |
| Tenant Notes | Tenant lease expires 6/2018, but does have a 36 month renewal option at $15,600.00 |
| Tenant Business Name | For Buyers business or tenant |
| Annual Revenue | $13,728 (Annual) |
| Suite Number | c |
| SF of Space Occupied | 1,056 SF |
| Tenant Notes | Base Rent: $10 + $3.00 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 | Unit A |
| Annual Revenue | $14,976 (Annual) |
| SF of Space Occupied | 1,152 SF |
| Tenant Notes | Quoting Base Rent: $10+3.00 psf. cam |
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 |
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