Listing Agency: KELLER WILLIAMS REALTY BAYOU P b***@kw.com Show Phone

Listed By: Lisa Braud · License #995691888 Show Phone

Source: Exprealty

Added: Oct 22 Changed: Oct 31 Last Checked: Oct 30 at 5:50PM

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Investment Insights

Based on property information with market context.

This 2,100-square-foot office property is arranged with six furnished offices, a glass-enclosed receptionist office, and a waiting area. A 30-by-17-foot conference room supports shared meetings, while the 13-by-19-foot break room and kitchen is furnished except for the stove. Men’s and women’s restrooms serve the space.

The building has four exits, two air-conditioning units, and a generator. Parking is available on site.

Key Highlights

• 2,100 square feet of office space
• Six furnished offices and a glass receptionist office
• 30x17 conference room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,149

Cap Rate

4.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,980 $363.0K

Cap Rate 7%

$259,271 $259.3K

Cap Rate 9%

$201,656 $201.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$29.0K $13.80/SF

− Vacancy

−$4.8K −$2.28/SF

EGI

$24.2K $11.52/SF

− OpEx

−$6.0K −$2.88/SF

NOI

$18.1K $8.64/SF

Area

St. Mary County, LA

Vacancy

16.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,980

Cap Rate 7%

$259,271

Cap Rate 9%

$201,656

Alternative Uses

Best Use

Office B

$259.3K

$226.9K – $302.5K (±1% cap)

NOI $18,149 @ 7.0% cap · market cap 4.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$358.3K

$313.5K – $418.0K (±1% cap)

NOI $25,081 @ 7.0% cap · market cap 6.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Dental Office Building Supply Electrical Service Plumbing Service Real Estate Agency Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

52

Businesses Nearby

Explore this area Business Placement

Demographics for 70342, LA

4,806

Population

1,958

Households

2.5

Avg Household Size

38

Median Age

24%

College-Educated

78%

High-School Grad

7.5 sq mi

ZIP Area

641

Density / Sq Mi

$56,146

Median Household Income

$37,411

Median Earnings

$492

Median Rent

$190,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - An established office layout includes a reception area, private workspaces, a conference room, and a kitchen.

Where is this office building located?

The property is located at 101 Tournament Blvd Berwick, LA.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 2,100 square feet of office space; Six furnished offices and a glass receptionist office; 30x17 conference room