Highway 59 Strip Center

Shopping Center for Sale
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
Sale Price: $599,000
Unit Price: $141.81 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Owner Financing
Last Updated: 1/18/2018

Overview / Comments

Updated: January 18, 2018

Great for Buyer looking for building to put his business in, and have bays to lease.
3,000 sf. vacant for buyers business, or businesses.

Owner Financing Available: Ten (10%) percent down payment or ($58,900.00) dollars with up to 25 Year Amortization, 5-7 Year balloon, under a Bond for Deed, Ownership carries the mortgage.

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

Find a Strip Center these days on the Northshore or Southshore that is almost leased, good income, great location, well maintained, near Interstate and that the Seller is willing to carry Ninety (90%) percent of the mortgage.
Actual Income:
Total Gross Income with 3 bays leased & one to be leased ($60,384.00) dollars annually.
3 Bays available now
1 bay leased to Hair Salon

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $5,264 (Annual)
Net Operating Income $49,821 (Annual)
Gross Operating Income $60,000 (Annual)
Actual or Proforma Year Actual
Amortization Period 25 Years

Current Tenants

Tenant Business Name Lacoste Hair Salon
Annual Revenue $13,200 (Annual)
Current Rent $1,100 PSF (Annual)
Tenant Notes Tenant has a 36 month renewal option at $15,600.00
Tenant Business Name vacant
Annual Revenue $12,000 (Annual)
SF of Space Occupied 960 SF
Current Rent $1,000 PSF (Annual)
Tenant Business Name For Buyers business or tenants
Tenant Notes 2 bays, Bay C& D consisting of 2,000 sf. for 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

Contact

Photograph of Listing Agent

Bryan D Pigeon

GARDNER REALTORS Mandeville Mandeville, LA 70448
LACDB Member
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