1201 Brashear Ave
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1201 Brashear Ave
62,640 SF 56% Leased Office Building Morgan City, LA 70380 $3,500,000 ($56/SF) 7.82% Cap Rate
Investment Highlights
- The building is located at the corner of Brashear Avenue and Victor II Boulevard, just north of Highway 90.
- Located 68 miles southeast of Lafayette, 64 miles south of Baton Rouge, and 86 miles west of New Orleans.
- Morgan City, LA sits on the bank of the Atchafalaya River and is "right in the middle of everywhere".
Executive Summary
1201 Brashear Avenue, a 4-story building located in Morgan City, LA is for sale or lease. The building contains a total of 62,640 square feet and is on approximately 4.568 acres (2 parcels) of land. The building is located at the corner of Brashear Avenue and Victor II Boulevard, just north of Highway 90.
Morgan City, LA sits on the bank of the Atchafalaya River and is "right in the middle of everywhere". Located 68 miles southeast of Lafayette, 64 miles south of Baton Rouge, and 86 miles west of New Orleans.
Morgan City, LA sits on the bank of the Atchafalaya River and is "right in the middle of everywhere". Located 68 miles southeast of Lafayette, 64 miles south of Baton Rouge, and 86 miles west of New Orleans.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$608,338
|
$9.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$608,338
|
$9.71
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$334,700
|
$5.34
|
| Net Operating Income |
$273,638
|
$4.37
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $608,338 |
| Annual Per SF | $9.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $608,338 |
| Annual Per SF | $9.71 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $334,700 |
| Annual Per SF | $5.34 |
| Net Operating Income | |
|---|---|
| Annual | $273,638 |
| Annual Per SF | $4.37 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
62,640 SF
Building Class
B
Year Built
1970
Price
$3,500,000
Price Per SF
$56
Cap Rate
7.82%
NOI
$273,638
Percent Leased
56%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
15,660 SF
Building FAR
0.31
Land Acres
4.57 AC
Zoning
B-2, General Business - B-2, General Business
Parking
253 Spaces (4.04 Spaces per 1,000 SF Leased)
Amenities
- Banking
1 of 1
PROPERTY TAXES
| Parcel Number | 3224361094 | Improvements Assessment | $294,011 (2023) |
| Land Assessment | $73,225 (2023) | Total Assessment | $367,236 (2023) |
PROPERTY TAXES
Parcel Number
3224361094
Land Assessment
$73,225 (2023)
Improvements Assessment
$294,011 (2023)
Total Assessment
$367,236 (2023)
-
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1201 Brashear Ave
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