1437 St Charles St, Houma, LA 70360

Commercial property for lease

• Description
• Saint Charles Street Plaza is a prime location commercial strip center with 19,160 SF of improvements on 2.30 acres of land in the heart Houma. This center boasts 12 individual units with an excellent tenant mix. The center is currently 85% occupied. The current leases are favorable terms for the owner/investor with several extending to 2022 including annual rental increases. The building was built in 2004 and has been routinely and proactively maintained.The location of this property is exceptional for long term retail growth. The center is tucked in one of the top residential neighborhoods in all of Houma, Summerfield, and also located within the highest rated school district in Houma, Mulberry School District. Directly diagonal from the property is a newly built CVS Pharmacy center & Rouses Market, and just down the street is Walgreens, local and national banks and several restaurants. The intersection of St. Charles and Valhi has a combined traffic count of over 21,000 cars per day and is increasing year over year. Within a 1 mile radius the average household income is $111,152 and within a five mile radius the population is 64,864 with 24,243 households. The current income and expenses for the property produce a 7.82% Cap Rate annually and when fully occupied it produces a 9.75% Cap Rate. Value add lies in the filling of the couple vacant spaces and also in increasing the current rents to match market rates in where there is room for growth. This property is a great opportunity for investors interested in strong cash flows and long term appreciation. For more financial details or questions please contact the listing agent Jourdan Despot (985) 438-1893 at Logan Babin Real Estate. Building price details: $3,125,000.
• Exterior Features

• Parking:	Yes
  Parking Spaces:	120
  Parking Type:	Surface

• Contact info
• Jourdan Despot

  Logan Babin Real Estate
• Note

• Details Info about this row that located on 1437 St Charles St, Houma, LA 70360 was got from trusty sources, but HousesForSaleList.com can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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