Catylist ID:
#30671985
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 |
Attachments & Media
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 |
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
Bradley Cook, MS, CCIMStirling PropertiesCovington, LA LACDB Member |
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