Mandeville, LA Retail Property For Sale

Lot 1-C1. Located just south of Lonesome Road on the west side of Hwy 59, next to the Diaz Shell Station. There are 2 parcels available, each listed for $500,000 or approx $12 psf. Zoning (NC6) with multiple allowable uses only 1.5 miles south of I-12. High traffic counts and excellent demographics. Parcels can be purchased together for $1,000,000 or separately for $500,000 each. Some exclusions.

NC4 zoning frontage on Hwy 1088 (2.49 acres), back 1.78 acres is zoned NC1. There is a 2267 sf house with 3 bedrooms/2.5 baths on the property. Can be Residential/commercial.

This 2-story building has excellent visibility with signage available on North Causeway Blvd! The 1st floor was formerly a Hancock Whitney Bank branch location. It has 6,417 SF with 12ft ceilings, white marble floors, a beautiful chandelier, extensive wood molding, a kitchen and a bank vault. The 6 offices have beautiful floor to ceiling wood and glass doors on all sides and above. The 2nd floor has 9,285 SF with 10ft ceilings and is excellent for many different types of uses. It consists of 2 suites which could be combined. The larger suite has 23 small offices and a large open space in addition to a reception area. The smaller suite has 10 offices, 2-3 conference rooms, a kitchen and a large open space. The gross building area is 16,887 SF plus 3,619 SF drive-thru canopy. Financial institutions are not allowed until 2026.

Excellent opportunity for an owner-user!

Great Commercial Development Site for any service type business, freestanding construction, service, retail sales, storage, etc..

RARE opportunity to own a Commercial building on Lakefront with 3 upstairs residences. Bottom floor has been gutted after Ida. Building rarely takes on water and has only flooded since raised during Ida. 2 of 3 apartments are occupied upstairs. Instant rental income of $4500 a month. Amazing location and gorgeous sunsets await you! Buyer to verify Sq Ft. Also listed as Multifamily in MLS

UPDATED: September 6, 2023

NOW FOR SALE JUST CENTER FOR $3.2 MILLION

$241,000.00 NOI, at asking price that's a 7.5% NOI

OR BUY BOTH CENTER, AND ONGOING HAIR STYLIST BUSINESS

If Buyer wants additional income, then a seperate sale is being offered

with a Business/Hair Salon Just Breath, that has 10 stylist, and provides additional income of $74,600.00 Net operating Income (NOI).

Price: $350,000.00, which provides a 21.3% NOI,

OWNER FINANCING HAS JUST BEEN APPROVED, UNDER THE FOLLOWING TERMS:

FOUR (4%) PERCENT INTEREST

TWENTY-FIVE (25) YEAR AMORTIZATION SCHEDULE

42 MONTH TERM FINANCING

29% DOWN, OR $950,000.00

(SUBJECT TO SELLERS FINAL APPROVAL OF ALL TERMS AND CONDITIONS OF THE WRITTEN OFFER PROVIDED BY BUYER).

GREAT MONTHLY INCOME, AFTER DEBT SERVICE EACH MONTH.

(NOTE*FINANCING WILL APPLY ONLY TO THE REALESTATE, NOT THE BUSINESS).

8 tenants, of which 6 have been leasing for over 10 years.

In 2023, 7 of the 8 tenants extended their leases, and went from a Gross Lease to a Net Lease, all paying $14 psf. Base Rent plus a $3.41 psf. in Triple Net charges, with exception to the State lease but State is paying $18.40 psf. and renewed last year for 5 years.

$241,000.00 NOI FOR THE BUILDING AND THE LESSEE/RENT ROLL

WITH BUSINESS: $241,000.00 + $74,600.00=$304,600.00 TOTALLING

+$304,600.00 DIVIDED/$3,550,000.00= 8.6% PERCENT

(See in attachments the Rent Roll & Operating Expenses, under pictures.

LAND AREA

 40,075 sq. ft.

ZONING

HC-2

TRAFFIC

60,844 V.P.D(I-12)(actual)

21,200 V.P.D(LA.59)(est.)

(2015 per LA. DOTD)

PURCHASE PRICE

$488,000

FEATURES

This commercially zoned tract on LA. Highway 59 (Just south of I-12) in St. Tammany Parish, LA. Is ideal for fuel/ C-stores, restaurants (with or without drive thru), hotels, as well as offices (with or without light industrial & warehousing). The parcel size and shape may be flexible. Adjacent square footage possible available to combine with the subject property.