High visibility retail or office property in SAMs shadow

Office for Sale
Also listed as Retail-Commercial, Shopping Center
Catylist Listing ID: 30190072
Property Subtypes: Executive Suites, Flex Space, Office Building
Building Size (RSF): 12,000 SF
Gross Land Area: 1.20 Acres
Sale Price: $1,680,000
Unit Price: $140 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: 100 William O Stutes
Class of Space: Class B
Usable Size (USF): 12,000 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 80
Last Updated: 9/10/2018

Overview / Comments

Beautiful office or retail building just off one of the busiest streets in the area, located between SAM's and Walmart adjacent to the SAM's parking lot. All suites are leased with 3-5 years remaining as of July 2018. Spaces are being renovated and updated for new tenants. Beautiful building priced below market.

Visit this link for video tour and dollhouse view. https://my.matterport.com/show/?m=GdGgJw6vHVC

Current leases are below market also, but with annual increases. Building will have LOTS of exposure not only to it's location, but from the new tenant mix.
Suite A is a church, Suite B will be a child play zone, Suite C is piano sales and service, Suite D has been a music academy for 8 years with over 500 current students.
Very nice and attractive space. 4 separate suites, but no load bearing walls in the 6000 sq ft halves so easily changed to suit tenant or owner user. Current tenant will sign long term lease if desired. Very attractive building and landscaping of over $50,000 to duplicate. Owner will be doing many upgrades.

Owner will consider condo and selling 6000 sq. ft. and keeping 6000 sq ft.

Attachments & Media

Additional Details

Nearest MSA: Lafayette
County: Lafayette
Submarket/Township: G3
Zoning: CH
Property Located Between: Walmart and Sams
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 12,000 SF
Construction/Siding: Aluminum Siding, Stucco
Exterior Description: Attractive stucco front on metal building
Parking Type: Surface
Parking Description: Adequate concrete parking in front and side of building. If overflow parking was needed for large function, the building as across the (seldom used) drive from SAMs parking lot.
Total Parking Spaces: 49
Sprinklers: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,473 74,353 148,663
Median Age: 35.07 34.17 34.16
Households: 4,057 30,961 59,718

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