Mandeville Square

Shopping Center for Sale
Sale Pending/Contingent
Also listed as Retail-Commercial
Catylist Listing ID: 30671985
Property Subtypes: Grocery-Anchored, Mixed Use, Neighborhood Center, Net Leased
Status: Pending/Contingent
Building Size (RSF): 19,946 SF
Gross Building Area: See Agent
Gross Land Area: 2.50 Acres
Sale Price: $1,700,000
Unit Price: $85.23 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Mandeville Square
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2021

Overview / Comments

Incredible value add investment opportunity in the heart of Mandeville. Mandeville Square is an 19,946 square foot retail center located on the corner of highway 190 and East Causeway Approach in Mandeville, Louisiana. The center is situated on approximately 2.5 acres and is shadow anchored by a Walmart Neighborhood Grocer. The location, access and nearby demographics highlight its strong potential for future value.

VALUE ADD OPPORTUNITY:
The current tenancy for the center includes: Albasha Express, Subway, Town Crier, Shoppe De Cheavux Salon, and Pullman Chiropractor. An additional ten suites are available to lease, including a former bank location with a drive thru. As a possible redevelopment option there is potential value in the demolition of Building C for future out parcel or new strip development.

Investment Highlights:
• Fee Simple Sale
• Value-Add opportunity
• Shadow-anchored by Walmart Neighborhood grocery
• Located on a busy signalized intersection with excellent visibility

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Tax ID/APN: 1148101345
Zoning: B-2; HIGHWAY BUSINESS DISTRICT
Retail Clientele: General, Family, Business
Property Located Between: Hwy 190 and East Causeway Approach
Property Visibility: Excellent
Largest Nearby Street: Hwy 190
Feet of Frontage: 1,000
Traffic/Vehicle Count: 20,353
Highway Access: Access off Hwy 190 and East Causeway Approach with roughly 800 linear feet of frontage.
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Fair
Roof Type: Flat
Construction/Siding: Block
Parking Ratio: 6 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface Parking in shared lot with Wal-Mart. +/-126 dedicated surface space included within the 2.5 acres site.
Total Parking Spaces: 126
Sprinklers: Wet
Heat Type: Electricity
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Zoning Description: The purpose of the B-2 Highway Business District shall be to provide sites for office, retail and service establishments to serve the needs of the community as a whole. This district includes both multi-tenant shopping centers and individual development sites located typically on major arterial and collector streets.
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: Easement Agreement with Wal-Mart in place.
Legal Description: Lot 31A of Plot K of the Poitevent Tract, Section 46 and 47, Township 8 South, Range 11 East, City of Mandeville, St. Tammany Parish, State of Louisiana

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,823 36,545 54,134
Median Age: 41.3 40.79 40.29
Households: 3,763 13,754 20,273

Contact

Photograph of Listing Agent

Bradley Cook, MS, CCIM

Stirling Properties
Covington, LA
LACDB Member
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