831 Ninth Street

Retail-Commercial for Sale
Catylist Listing ID: 30148054
Property Subtypes: Free-Standing Building, Street Retail, Other
Building Size (RSF): 1,100 SF
Gross Building Area: See Agent
Gross Land Area: 1,677 SF
Sale Price: $630,000
Unit Price: $572.73 PSF
Property Use Type: Net Leased Investment (NNN), Business
Building Name: 831 Ninth Street
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 8/20/2017

Overview / Comments

A single tenant retail building and a digital billboard. Both the building and the billboard are owned by the seller and are being offered together.

The building is leased to an authorized agent of MetroPCS. The billboard has multiple advertisers.

The billboard was built in 2014. The building was completely renovated in 2016.

Please do not discuss with tenant or tenant's employees. All income statements etc. to be released to buyers with current letter of proof of funds and signing of NDA. Contact listing representative for ALL showings.

The property is located at the intersection of Ninth Street (LA Hwy 70) and Brashear Ave in Morgan City Louisiana. Businesses located at the other four corners of the intersection are Whitney Bank, Courtesy GMC/Toyota/Ford and MidSouth Bank. A new Walmart Neighborhood Market has recently been built along Ninth Street. Other new additions nearby include a new AT&T building, a CC's Coffee, Verizon and Orange Leaf Yogurt. Ninth Street is the main connector route from Hwy 90 to Teche Regional Medical Center.

9% cap rate property.

Additional Details

Nearest MSA: Morgan City
County: Saint Mary
Taxing Authority: St Mary Parish / City of Morgan City
Zoning: COMMERCIAL
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Brashear Avenue
Feet of Frontage: 515
Highway Access: Located near Hwy 90 access.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 1916
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 5
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: Commercial
In Flood Plain?: Yes
Lot Frontage: 51.6
Lot Depth: 32.5
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,329 17,267 23,144
Median Age: 37.62 37.4 36.98
Households: 3,428 6,758 8,944

Contact

Photograph of Listing Agent

Mark Guidroz

Parish Orleans Properties
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