Just Reduced Pricing on Offering of A National Tenant Building

Office for Sale
Catylist Listing ID: 30638681
Property Subtypes: Business Park, Executive Suites, Governmental, High-Tech, Institutional, Medical, Mixed Use, Flex Space, Net Leased, Office Building, Other
Building Size (RSF): 6,393 SF
Gross Building Area: See Agent
Sale Price: $1,500,000
Unit Price: $234.63 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/15/2021

Overview / Comments

UPDATED: November 11, 2020

Price Was: $1,575,000.00
Reduced to: $1,500,000.00
A 9.2% CAP RATE AT NEW ASKING PRICE

Net, Net, Net Income Annually of $138,000.00 (TOP 20 CPA FIRM IN THE UNITED STATES).

Tenants pay the Real Property Taxes, Insurance, Upkeep of the grounds, Roof, Everything period.

Gorgeous Exterior, and Class "A", Interior Build-Out, like new.
National CPA Firm, occupies 100% of the building, with a Corporate Guarantee on the lease. Pays $11,500.00 per month or $138,000.00 ( Net, Net, Net.).
36 month lease term, plus Two (5) Year Options, with increases of Ten (10%) percent each option.
Building has 4 seperate bays, that are all wide open for the most part,
7 hvac systems, and has 4 seperate meters.

"OPERATING EXPENSES FOR THE ENTIRE BUILDING", ALL PAID FOR BY LESSEE. LESSOR PAYS FOR NOTHING PERIOD.

Current Tenants

Tenant Business Name CPA Firm
Is Renting? Yes
Annual Revenue $138,000 (Annual)
Current Rent $11,500 PSF (Annual)
Options 2 (5) year OPTIONS TO RENEW, WITH TEN PERCENT (10%) INCREASES IN RENT EACH OPTION PERIOD.
Tenant Notes A True Net Lease, tenants pay for everything.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Tax ID/APN: 1121423209
Zoning: COMMERCIAL
Property Located Between: U.S. Highway 190 & Green leaves boulevard
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 1
Roof Type: Arched
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: commercial
Lot Frontage: 100'
Lot Depth: 250
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,112 36,545 57,120
Median Age: 40.37 40.79 40.29
Households: 2,977 13,754 21,293

Contact

Photograph of Listing Agent

Bryan D Pigeon

Nola Living Realty Metairie, LA 70002
LACDB Member
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