Listing Agency: ABEK Real Estate

Listed By: Larry Haik jr · License #LA 000036766 Show Phone

Source: Crexi

Added: Oct 6, 2023 Changed: Oct 7 Last Checked: Oct 20 at 5:56PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This large unit, one of the two largest remaining available, is suitable for a distribution warehouse, bowling alley, skating rink, large retail space, grocery store, storage facility, or other commercial use. The center is undergoing revitalization as an Interstate Quadrant Business Center on Old Spanish Trail, also known as Highway 433. Several other commercial condominiums have been sold, renovated, and are occupied by businesses such as HVAC contractors, electrical contractors, dance studios, churches, gyms, and offices. This business center concept is being revived, having originally been a factory outlet center that was impacted by Hurricane Katrina. It now offers an affordable option for small businesses needing accessible locations to operate. The condominium fees are reasonable, and owners are responsible for maintaining the interior of their units. The property features a large amount of parking and easy interstate access. The property size is 34912 square feet.

Key Highlights

• One of the two largest remaining units available.
• Suitable for a variety of uses INCLUDING distribution warehouse, large retail, grocery, storage, and more.
• Revitalized Interstate Quadrant Business Center location.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$213,127

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,262,540 $4.3M

Cap Rate 7%

$3,044,671 $3.0M

Cap Rate 9%

$2,368,078 $2.4M

What to ask about pricing

Market Conditions

NOI Build-Up for 34,912 SF

Gross rent

$314.2K $9.00/SF

− Vacancy

−$9.7K −$0.28/SF

EGI

$304.5K $8.72/SF

− OpEx

−$91.3K −$2.62/SF

NOI

$213.1K $6.10/SF

Area

St. Tammany County, LA

Vacancy

3.10%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,262,540

Cap Rate 7%

$3,044,671

Cap Rate 9%

$2,368,078

Alternative Uses

Best Use

Retail

$5.00M

$4.38M – $5.83M (±1% cap)

NOI $350,080 @ 7.0% cap · market cap 636,509.09%

Second Best

Warehouse

$3.70M

$3.23M – $4.31M (±1% cap)

NOI $258,797 @ 7.0% cap · market cap 470,540.00%

Theoretical Best

Multifamily LT 5

$376.36M

$329.31M – $439.08M (±1% cap)

NOI $26,344,875 @ 7.0% cap · market cap 47,899,772.73%

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

Schedler Tom Campaign ... Advocacy Group slidell & new orleans ... Hardware & Home Improvement Prestige Contracting Services ... Electrical Service Gospel Revolution Church Church Iglesia Cristiana Linaje ... Church

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Big Box & Wholesale Store

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

287

Businesses Nearby

Explore this area Business Placement

Demographics for 70461, LA

30,740

Population

12,900

Households

2.4

Avg Household Size

39

Median Age

31%

College-Educated

89%

High-School Grad

53.5 sq mi

ZIP Area

575

Density / Sq Mi

$88,035

Median Household Income

$48,351

Median Earnings

$1,201

Median Rent

$267,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Revitalized business center unit suitable for various commercial uses.

Where is this retail space located?

The property is located at 1000 Caruso Blvd Slidell, LA.

What are key features of this property?

This property features: One of the two largest remaining units available.; Suitable for a variety of uses INCLUDING distribution warehouse, large retail, grocery, storage, and more.; Revitalized Interstate Quadrant Business Center location.