620 Lotus Dr, Mandeville, LA 70471

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Building Details:

620 Lotus Dr is located in Mandeville, LA.

Just Updated January 4, 2017
2 Professional Office Buildings 100% Leased

610 Lotus Drive: 6,580 square feet, Leased 100% to an Educational Center-Commencing 3/1/2017, for 36 months, and a Diesel Automotive admin. office, Commencing 2/1/2017 for 12 months only due to Educational Center having the option in 13 months to take over Diesel space.

ACTUAL INCOME:
Gross Income: $118,698.68
MINUS Operating Expenses: $38,936.48
Minus Annual Commissions: $ 7,272.00
Total Operating Expenses: $46,208.48
= (NOI) OF: $72,490.20
at asking price: $852,000.00/72,490.20=.085% CAP RATE at asking price
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These Two (2) Northshore Commercial Mandeville Professional Office buildings are in the Heart of Mandeville, La. & directly across from Beau Chene Country Club.
610 Lotus: Approximately 6,580 square foot office building that has Two (2) tenants that pay a total Gross Annual Income of: $62,300.00.

620 Lotus: Approximately a 3,882 square foot office building that has just been leased as of November/2015 for Sixty-Three (63) months to a National Insurance Underwriter named Brown & Brown Insurance Group. They lease the entire building, and pay a Gross total Annual Income of: $56,398.68