16171 STATE BANK Dr
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16171 STATE BANK Dr
3,573 SF 58% Leased Office Building Prairieville, LA 70769 $500,000 ($140/SF) 7.50% Cap Rate
Executive Summary
Income producing office duplex for sale at Airline Hwy & Hwy 73
Income producing office duplex for sale on State Bank Drive in Prairieville. Located at the prime intersection of Airline Highway and LA-73, this commercial office building offers an exceptional investment opportunity in Prairieville. The building is divided into two suites, each with distinct features and potential and offers 15 total parking spots with one designated as handicapped.
Suite 100 is leased and has been occupied by the same tenant for 15 years, reflecting long-term stability. The tenant is paying approximately $2,200 per month, with a lease that was renewed in February 2024. This suite includes a reception area with a lobby/waiting room, an additional larger waiting area, 4 offices, a training room, a single restroom, and a utility closet with a sink. There is also a small kitchenette in the back office. The offices are carpeted, while the main areas feature durable stained concrete floors.
The other half of the building is owner-occupied and will be available immediately upon the act of sale, offering flexibility for the new owner. Previously occupied by a doctor's office prior to the current cyber security company, this suite includes 6 offices, 2 kitchenettes, a single unisex restroom, and an exterior storage closet. There is a server room adjacent to the front office, which was previously used as a reception area with a window cutout opening into the lobby. The suite features blinds in all windows, ceiling fans, a mix of wood laminate and stained concrete floors, and carpet in the server room. The building is equipped with surveillance cameras and is wired for a portable generator, ensuring security and operational continuity.
Recent Updates include Exterior Paint in 2019, Roof & Exterior Doors replaced in 2022, HVAC: Interior unit updated in 2016 & exterior unit in 2018. There is also new LED lighting & updated network wiring throughout.
This property is ideal for investors seeking steady rental income with potential for growth or for business owners looking for a strategic location with immediate availability for occupancy. The combination of long-term tenancy, modern amenities, and a prime Prairieville location makes this a compelling investment opportunity.
Income producing office duplex for sale on State Bank Drive in Prairieville. Located at the prime intersection of Airline Highway and LA-73, this commercial office building offers an exceptional investment opportunity in Prairieville. The building is divided into two suites, each with distinct features and potential and offers 15 total parking spots with one designated as handicapped.
Suite 100 is leased and has been occupied by the same tenant for 15 years, reflecting long-term stability. The tenant is paying approximately $2,200 per month, with a lease that was renewed in February 2024. This suite includes a reception area with a lobby/waiting room, an additional larger waiting area, 4 offices, a training room, a single restroom, and a utility closet with a sink. There is also a small kitchenette in the back office. The offices are carpeted, while the main areas feature durable stained concrete floors.
The other half of the building is owner-occupied and will be available immediately upon the act of sale, offering flexibility for the new owner. Previously occupied by a doctor's office prior to the current cyber security company, this suite includes 6 offices, 2 kitchenettes, a single unisex restroom, and an exterior storage closet. There is a server room adjacent to the front office, which was previously used as a reception area with a window cutout opening into the lobby. The suite features blinds in all windows, ceiling fans, a mix of wood laminate and stained concrete floors, and carpet in the server room. The building is equipped with surveillance cameras and is wired for a portable generator, ensuring security and operational continuity.
Recent Updates include Exterior Paint in 2019, Roof & Exterior Doors replaced in 2022, HVAC: Interior unit updated in 2016 & exterior unit in 2018. There is also new LED lighting & updated network wiring throughout.
This property is ideal for investors seeking steady rental income with potential for growth or for business owners looking for a strategic location with immediate availability for occupancy. The combination of long-term tenancy, modern amenities, and a prime Prairieville location makes this a compelling investment opportunity.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,573 SF
Building Class
B
Year Built
2005
Price
$500,000
Price Per SF
$140
Cap Rate
7.50%
NOI
$37,500
Percent Leased
58%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,573 SF
Slab To Slab
10’
Building FAR
0.30
Lot Size
0.27 AC
Zoning
Office
Parking
15 Spaces (4.2 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Wheelchair Accessible
- Reception
- Central Heating
- Partitioned Offices
- Secure Storage
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
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PROPERTY TAXES
Parcel Number | 20005-568 | Total Assessment | $27,570 |
Land Assessment | $2,030 | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $25,540 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
20005-568
Land Assessment
$2,030
Improvements Assessment
$25,540
Total Assessment
$27,570
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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16171 STATE BANK Dr
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