2399 Ferrand St Monroe, LA 71201

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