Property Details for 2399 Ferrand St

Year built

2016

Lot size

2.43 lot acres

Property type

Commercial real estate

APN

106746

APU

106746

Description

This exceptional Class A, mixed-use commercial-retail center in Monroe, Louisiana, presents a compelling investment opportunity. The 8,000 square foot property, built in 2016, boasts 100% occupancy across eight units, each featuring 800 square feet of warehouse/storage space with 12' roll-up doors and 14' ceilings, plus 200 square feet of office space and a handicapped-accessible restroom. Currently operating under a modified net lease with a remaining term of one year, the property generates a substantial net operating income (NOI) of $72,830, representing an 8.32% cap rate at an asking price of $875,000 ($118.75/sq ft). Annual rents recently increased by $7,800, reaching $103,800. Further rent increases are projected in May 2025. The property sits on a 0.62-acre lot with 35 parking spaces and is strategically located in Monroe's business district, offering excellent visibility and convenient access to major roadways including Highway 165, Highway 80, I-20, and is less than a mile from the University of Louisiana at Monroe. The property is zoned B-2 and includes rent bumps. Tenants are responsible for base rent, utilities, and a portion of repairs, while the owner covers internet, security, and garbage. All information is deemed reliable but not guaranteed

Location Insight

City

Monroe

County

Ouachita

State

Louisiana

Longitude

-92.0828

Latitude

32.5304

CBSA code

33740

CBSA name

MONROE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments