3349 Ridgelake Dr, Metairie, LA 70002

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Building Details:

3349 Ridgelake Dr is an office property located in Metairie, LA. The property currently has 1 office space for lease and is marketed by NAI/Latter & Blum, Inc..

This is a 14 unit garden office building which is owned by a contractor and is in very good condition. The landlord has let all but two of the leases expire, so most tenants are month to month. It used to be an apartment complex, so all units have their own HVACs and bathrooms. All of the baths save one are full baths. It is under a termite contract. The owner pays for all of the utilities, taxes, insurance and repair and replacement of the A/C units. There are a few vacancies, but the lessor uses a small sign on the street to acquire tenants; and it hasn’t been much of a problem finding them. The rental figures are lower than the market, so he has tenants who have occupied for many years. In fact, a doctor rents two of the units simply to store his personal items. Tenants take care of their own janitorial duties including taking out the trash twice per week. On December 28, 2017, Murphy Appraisal Services appraised the property for $1,205,000 (the sales comparison approach amounted to $1,220,000.) Under more aggressive management, this property could see revenues dramatically increased, thus offering an investor a very good upside potential.

• Available Spaces

Suite	Space Type	Pricing	Size
---	Office Space	For sale: Contact for Pricing	14,400 sqft
View Details Listing company: NAI/Latter & Blum, Inc. Pricing: Contact for Pricing Availability: Now Listing ID: 1048904 Save to list