Mandeville Class "A" Office Building

Office for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30050753
Property Subtypes: Executive Suites, Medical, Office Building
Status: Pending
Building Size (RSF): 5,850 SF
Gross Land Area: 12,000 SF
Sale Price: $780,000
Unit Price: $133.33 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Building Name: 594 Asbury Drive
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 6.25%
Average Occupancy Rate: 82
Short Sale/Bank-Owned: Yes
Last Updated: 8/16/2017

Overview / Comments

Attractive brick office building on the corner of Asbury and DeSoto/Sharp. Second floor executive offices. Very nice Class A two (2) story brick office building in a great area of Mandeville at Asbury and Sharp Drive (on the Desoto corner). Current office tenants include a mortgage office, hand therapist, physical therapist, psychotherapists, adoption agency and general office tenants.

Attachments & Media

Current Tenants

Tenant Business Name Patterson State Bank
Is Renting? Yes
Employees at Location 4
Suite Number B
SF of Space Occupied 1,108 SF
Tenant Business Name Hand Therapist
Is Renting? Yes
Employees Total 4
SF of Space Occupied 1,106 SF
Tenant Business Name Physical Therapist
Is Renting? Yes
Employees Total 2
Suite Number C
SF of Space Occupied 1,310 SF
Current Rent $18,000 PSF (Annual)
Tenant Business Name Psychotherapists (3 separate)
Annual Revenue $5,700 (Annual)
Suite Number E5
Tenant Business Name Adoption Agency

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Submarket Type: Suburban
Tax ID/APN: tempapn28758391
Zoning: HC-1
Market Type: Large
Property Located Between: Judge Tanner, HWY 190 East and Frontage Road to Hwy 190 West
Side of Street: West
Road Type: Paved, 2-Track, Highway
Property Visibility: Excellent
Transportation: Highway
Highway Access: Asbury Drive is the street that runs along the right side of the K-Mart on Highway 190 East. Easily accessible from Fairway Drive to service road or Highway 59 down Sharp Road.
Site Description: Large corner concrete parking lot with beautiful two (2) story brick building. Access to executive office suites and the available first floor office space is located on the right side of the building around the large beautiful oak tree. Signage is available at a minimal charge.
Area Description: Excellent area for office space. Little Tokyo is across the street and also on the corner.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2007
Year Renovated: 2015
Roof Type: Arched
Construction/Siding: Brick, Stucco
Exterior Description: Very attractive brick office building in great area.
Parking Type: Surface
Parking Description: Concrete parking lot in front on corner of Asbury Drive, Sharp Road and DeSoto Street.
Total Parking Spaces: 20
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Other
Interior Description: Very attractive brick office building excellent for therapists, insurance company, mortgage company, salespeople, start-ups, attorneys, office professionals, etc.
Zoning Description: HC-1
Lot Frontage: 120.03'
Lot Depth: 126.12'
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,809 44,743 69,828
Median Age: 43.32 41.13 40.04
Households: 3,705 17,142 26,108

Contact

Photograph of Listing Agent

David R Wright

Wright Commercial Realty Corporation New Orleans, LA 70124
Not a member of MCAR CIE
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