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 |
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