Catylist ID:
#30671155
Causeway Mandeville, La. Income Property
Shopping Center
for Sale
| Catylist Listing ID: | 30671155 |
| Property Subtypes: | Community Center, Fashion/Specialty, Free-Standing Store, Mixed Use, Neighborhood Center, Strip Center, Other |
| Building Size (RSF): | 8,200 SF |
| Gross Land Area: | 39,000 SF |
| Sale Price: | $775,000 |
| Unit Price: | $94.51 PSF |
| Property Use Type: | Investment |
| Building Name: | Seal Sports |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.5% |
| Last Updated: | 9/16/2021 |
Overview / Comments
|
Updated: April 21, 2021. This 8,200 sf. freestanding building is well located. 60,000 plus cars daily pass in front of it, proceeding to Interstate 12, Covington, La., but in Mandeville, La. There currently are 3 bays Seal Sports in approx. 5,000 sf. (Maybe available for lease). A Cpa Firm in approx. 2000 sf. Formerly Nancy Robbins space being approx. 1250 sf., which is being marketed for rent at $12 plus $3 psf. for nnn charges. Fronts Two (2) Major Highways, Hwy. 190 and Old Hwy. 190 in the rear of the building. PRICE PER FOOT: $94.51 psf. Interior spaces all show well, exterior a stucco finish, and sides are metal. |
Current Tenants
| Tenant Business Name | Listing agent obtaining details to Rent Roll |
| Tenant Business Name | CPA Firm |
| Is Renting? | Yes |
| Annual Revenue | $30,000 (Annual) |
| SF of Space Occupied | 2,000 SF |
| Lease Expiration | 12/0021 |
| Tenant Business Name | Seal Sports Center |
| Is Renting? | Yes |
| Annual Revenue | $51,000 (Annual) |
| SF of Space Occupied | 5,000 SF |
| Current Rent | $4,250 PSF (Annual) |
| Lease Expiration | 9/0031 |
| Tenant Notes | Tenant has approx. 2.6 years remaining, from April 2021. |
| Tenant Business Name | Vacant, Wide Open Space, with offices in Rear (Marketing space) |
| Annual Revenue | $18,750 (Annual) |
| SF of Space Occupied | 1,250 SF |
| Current Rent | $1,562 PSF (Annual) |
| Tenant Notes | Have prospects to lease, and would be for 2-5 years, plus options, with 3-5% increases each year thereafter. |
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Saint Tammany |
| Zoning: | HIGHWAY COMMERCIAL |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Other |
| Property Located Between: | Hwy. 190 and Old Hwy. 190 |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Hwy. 190 |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Property Condition: | Good |
| Parking Type: | Surface |
| Parking Description: | Complies with regulatory authorities |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Zoning Description: | HC Commercial |
| Lot Frontage: | 130' |
| Lot Depth: | 300' |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 10,962 | 45,896 | 71,317 |
| Median Age: | 43.86 | 41.02 | 40.17 |
| Households: | 4,134 | 17,558 | 26,821 |
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