Fully Leased Office Investment

Office for Sale
Catylist Listing ID: 30349423
Property Subtypes: Business Park, Executive Suites, Governmental, High-Tech, Institutional, Medical, Mixed Use, Flex Space, Net Leased, Office Building, Research & Development, Other
Building Size (RSF): 3,000 SF
Gross Building Area: See Agent
Sale Price: $250,000
Unit Price: $83.33 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/6/2020

Overview / Comments

This space consists of three 1,000+- office condo units in a small, quiet office condo development in the back of the Justice/Bricksome office park off of Sherwood Forest Boulevard, with very easy access to I-12. Presently, this space is configured as TWO units, with one consisting of a 2,000 sf space and the other consisting of 1,000 sf. These two spaces are leased separately, but are connected by a door. All three units could be occupied as one space (as it has previously been occupied) providing more options for the owner/user in the future. The two tenants have each been in their respective space for over 5 years.

The larger space, occupied by GES, Inc, is in their second term, which runs through August, 2021. The other tenant is a spa and is presently operating month-to-month, but has not expressed any desire to move and would likely sign a longer term lease if the buyer requested. A buyer could either occupy the smaller space, or continue with the existing tenant.

Combined, these tenants are paying $2,130/mo ($25,560 annually). Landlord currently pays property taxes of $840/unit/year and condo dues of $155/unit/month, which include dumpster, exterior/roof maintenance/structural maintenance and exterior insurance.

Contact agent for more information - PLEASE DO NOT CONTACT TENANTS!

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 43
Tax ID/APN: 113751

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,200 96,038 203,148
Median Age: 32.64 36.68 36.04
Households: 7,457 40,149 83,085


The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.