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831 9th St 1,100 SF Retail Building Morgan City, LA 70380 $200,000 ($181.82/SF) 7% Cap Rate
EXECUTIVE SUMMARY
Highly visible corner lot at the red light intersection of Ninth Street(LA Hwy 70) and Brashear Ave. in Morgan City, LA.
BUILDING
- Renovated in 2016. Replaced roof, A/C condenser, drop down ceiling, electrical upgrade and shored up building using Cable Lock Foundation Repair.
- Transferrable warranty with Cable Lock Foundation Repair.
- Same tenant has been in place for 8 years.
- NN lease with tenant paying base rent plus CAM (insurance and property taxes) adjusted annually.
Billboard and related lease not included.
BUILDING
- Renovated in 2016. Replaced roof, A/C condenser, drop down ceiling, electrical upgrade and shored up building using Cable Lock Foundation Repair.
- Transferrable warranty with Cable Lock Foundation Repair.
- Same tenant has been in place for 8 years.
- NN lease with tenant paying base rent plus CAM (insurance and property taxes) adjusted annually.
Billboard and related lease not included.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,100 SF
Building Class
C
Year Built
2007
Price
$200,000
Price Per SF
$181.82
Cap Rate
7%
NOI
$14,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.63
Lot Size
0.04 AC
Zoning
Commercial - Commercial
Parking
6 Spaces (5.45 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 3224361698 | Improvements Assessment | $10,544 |
| Land Assessment | $600 | Total Assessment | $11,144 |
PROPERTY TAXES
Parcel Number
3224361698
Land Assessment
$600
Improvements Assessment
$10,544
Total Assessment
$11,144
1 of 6
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831 9th St
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