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32228149
32228150

2121 N Causeway Blvd, Metairie, LA 70001

HD
LA 995716528
SVN | Urban Properties
SVN | Urban Properties
SVN | Urban Properties
Listed by SVN | Urban Properties
$5,500,000
34 days on market
Updated 34 days ago

2121 N Causeway Blvd

Details
APN 9930006737
Property Type Office
Sub Type Traditional Office
Square Footage 35,431
Cap Rate 7.00%
NOI $385,000
Occupancy 94%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Price per SqFt $155
Year Renovated 2023
Stories 2
Acreage 1.147
Zoning C1
Parking Spaces 95 spaces
Parking Per SqFt 2.68
Investment Type Stabilized

2121 N Causeway Blvd, Metairie, LA 70001

Marketing description

2121 N. Causeway Boulevard is a multi-tenant office property located near the intersection of N. Causeway Boulevard and I-10 in Metairie, offering strong visibility, high traffic counts, and convenient access from across the New Orleans MSA and the Northshore. The property is 94% occupied and leased to 18 tenants, providing in-place cash flow and a diversified rent roll. Many of the leases include annual rent increases, which have contributed to NOI growth, and the NNN lease structure helps reduce operating expense exposure for ownership. The property has also experienced strong leasing velocity in recent years. Professionally managed by SVN Urban Properties, the property has undergone numerous capital improvements in recent years. New owner will have the option to retain property management (this is reflected in NOI). It also offers abundant parking and additional revenue potential through lease-up of the remaining vacancy, renewal rent increases, and other income sources such as a billboard lease.

Listing Contacts

HD
LA 995716528
SVN | Urban Properties
SVN | Urban Properties
SVN | Urban Properties
Listed by SVN | Urban Properties

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$385,000.00
$32,083.33/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Hayden Davis
License
995716528
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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