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

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