Medical Class B Office Building & Lot for Sale

Office for Sale
Catylist Listing ID: 30137143
Property Subtypes: Medical, Office Building
Building Size (RSF): 31,080 SF
Gross Land Area: 41,243 - 46,294 SF
Sale Price: $4,190,000
Unit Price: $134.81 PSF
Property Use Type: Investment
Building Name: Jefferson Professional Plaza
Class of Space: Class B
Usable Size (USF): 27,844 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 1,680
Last Updated: 9/15/2017

Overview / Comments

PLEASE DO NOT DISTURB TENANTS

Great Investment Opportunity!
Multi-tenant medical office building is 31,080 SF of gross bldg. on 41,243 SF of land, zoned H-2 and the vacant lot is across the street consisting of 5,051 SF zoned C-1. As of 2012, both sites are in an AE flood zone.
Building is well maintained and is in very good condition. New roof 2006.
Building is 93% occupied with long standing tenants. Cap rate 7%.
Modified gross with tenants paying only their janitorial. Lease escalation - CPI.

An executed Confidentiality Agreement is required for additional information.

Financials

Finance Data Year 2017
Net Operating Income $343,866 (Annual)
Gross Operating Income $483,866 (Annual)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Outer Jefferson Parish
Tax ID/APN: JP-101666
Zoning: BUILDING IS (H-2) MEDICAL DISTRICT & THE VACANT LOT IS C-1 (COMMERCIAL DISTRICT)
Property Visibility: Excellent
Site Description: Building situated on 41,243 SF (224.5 X 183.71 and lot across the street is 5,051 SF (45 X 112.25)
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 10,300 SF
Year Built: 1975
Year Renovated: 2006
Roof Type: Flat
Exterior Description: Roof is flat / built up Exterior is brick veneer Structure if steel frame
Parking Type: Surface
Parking Description: 88 on site & 21 across street. Total = 109 Spaces.
Total Parking Spaces: 109
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity, Hot Water
Heat Source: Central
Air Conditioning: Evaporative Cooler
Zoning Description: Building H-2 and lot C-1
Lot Frontage: 224.5
Lot Depth: 183.71

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,674 129,992 293,796
Median Age: 42.86 37.12 35.86
Households: 5,019 51,612 115,352

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