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    1 Wood St Monroe, LA 71201

    Sponsored
    For Sale
    $785,000

    Historic building, prime location, income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property, located at 1 Wood Street in Monroe, Louisiana, presents a unique investment opportunity. Priced at $785,000, this 0.17-acre retail and land property boasts a prime downtown location adjacent to the Ouachita Parish Courthouse. The building offers stunning views of the Ouachita River from both its upper and lower floors. Previously utilized as a lawyer's office, the property features multiple spacious offices and a large conference room. Currently, one tenant, Ralph Bailsbond, occupies the space and will remain with the sale, providing immediate income potential. The property's versatile layout allows for various uses, including the potential development of four executive suites, generating further revenue streams. Furthermore, the state offers tax incentives for any investments made in the building, enhancing the return on investment. This historic building represents a rare chance to acquire a well-situated commercial property with significant income potential and the benefit of state tax incentives. The property's location in the heart of downtown Monroe ensures high visibility and accessibility. The existing tenant provides a stable income stream, while the adaptable layout offers flexibility for future development and expansion. This is a truly remarkable opportunity for a discerning investor.

    Property Features for 1 Wood St

    General Information

    Property type
    Land
    Lot Size
    7,405 SF

    HighLights

    • $785,000 asking price for 0.17‑acre retail and land property in Monroe, LA.
    • Prime downtown location adjacent to the Ouachita Parish Courthouse with Ouachita River views.
    • Previously a lawyer's office, featuring multiple offices and a large conference room.
    • Currently occupied by one tenant (Ralph Bailsbond) providing immediate income; lease remains with sale.
    • Versatile layout suitable for various uses, including potential development into four executive suites.
    • Louisiana state tax incentives available for building investments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Law Office of Steven ... Attorney

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Ouachita
    State
    Louisiana
    Longitude
    -92.1171292
    Latitude
    32.4995885

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    FAQs

    What type of property is this?
    Land - Historic building, prime location, income potential.
    Where is this land located?
    The property is located at 1 Wood St Monroe, LA.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: $785,000 asking price for 0.17-acre retail and land property in Monroe, LA.; Prime downtown location adjacent to the Ouachita Parish Courthouse with Ouachita River views.; Previously a lawyer's office, featuring multiple offices and a large conference room.
    Request Owner's contact information
    1 Wood St Monroe, LA 71201
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    Monroe, LA 71201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Wood St Monroe, LA 71201
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