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*Reduced* Investment at North Gates of LSU 3340 Highland Rd
19,145 SF 76% Leased Retail Building Baton Rouge, LA 70802 £2,335,613 (£122/SF) 7.60% Net Initial Yield
Investment Highlights
- Prime Location Corner of Highland Rd. & Chimes St. (North Gates of LSU)
- Long-Term Tenants: Highland Coffees, Bengals and Bandits, Vivint, Lit Vape Shop
Executive Summary
Currently 75% Occupied (14,511 sqft) with current actual NOI of $227,000.
Additional 4,634 sqft second floor space that is currently out of commerce. Potential to develop short-term rental / party pad for value add
NOI: $227,000
Cap Rate: 7.61%
Tenant Roster Includes:
Highland Coffees
Bengals and Bandits (soft goods retailer)
Vivint (home automation corporate office)
Lit Vape
Adjacent to the historic Chimes Restaurant and Chipotle
Please contact agent for additional details including CA in order to receive all supporting financial information.
CA is also attached to this listing - Please print, sign, scan and return.
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
$5.00 - 15.00 SF/yr (NNN) Rare Retail or Office Opportunity at the North Gates of LSU. Second floor shell space at the corner of Highland & W. Chimes St. that can accommodate a wide range of uses. Tenant has the ability to customize the space to their needs. Owner is negotiable on TI allowance depending on cost split use term and lease rate. Plans are in place for elevator access on Highland Rd. Suspended acoustic ceilings can be opened to reveal wood truss system. Potential for increased window openings to enhance views of LSU campus and overlooking Highland Rd & W. Chimes St. Additional 600 usable SqFt of Patio Space - see attached preliminary plans. Former Godfather's Pizza - Zoned C-AB-1. Adjacent On-Campus LSU Parking is available to the public everyday at 4:30 PM. Clean asbestos report & structural report available
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,634 SF | Retail | - | Now |
1st Floor
| Size |
| 4,634 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 4,634 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
$5.00 - 15.00 SF/yr (NNN) Rare Retail or Office Opportunity at the North Gates of LSU. Second floor shell space at the corner of Highland & W. Chimes St. that can accommodate a wide range of uses. Tenant has the ability to customize the space to their needs. Owner is negotiable on TI allowance depending on cost split use term and lease rate. Plans are in place for elevator access on Highland Rd. Suspended acoustic ceilings can be opened to reveal wood truss system. Potential for increased window openings to enhance views of LSU campus and overlooking Highland Rd & W. Chimes St. Additional 600 usable SqFt of Patio Space - see attached preliminary plans. Former Godfather's Pizza - Zoned C-AB-1. Adjacent On-Campus LSU Parking is available to the public everyday at 4:30 PM. Clean asbestos report & structural report available
PROPERTY TAXES
| Parcel Number | 00716855 | Improvements Assessment | £52,385 |
| Land Assessment | £11,604 | Total Assessment | £63,989 |
PROPERTY TAXES
-
Power Broker Matthew Shirley -
Saurage Rotenberg Commercial Real Estate
Presented by
*Reduced* Investment at North Gates of LSU | 3340 Highland Rd
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