For Sale
$295,000

309 Texas StVidalia, LA 71373

High-yield retail investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional multi-use building, located at 309 Texas Street in Vidalia, Louisiana (zip code 71373), presents a compelling investment opportunity. The property boasts 8,058 square feet situated on a 0.48-acre lot, zoned for commercial use (Comm). Currently operating at 75% occupancy with a modified lease structure, the building offers a strong income stream with a gross annual income of $37,635 and a 9.00% cap rate. The property features ten on-site parking spaces, a significant advantage in this location. The building itself is a free-standing structure with metal siding, block, and brick exterior, a metal roof, and a concrete slab floor. Internal features include five offices, five restrooms, and private bathrooms. The building benefits from combination heating and air conditioning systems, and is connected to public water, sewer, natural gas, and cable utilities. Annual property taxes are $5,665.12, and estimated annual utility expenses are $2,431.54. The remaining lease term is three years. The property's APN is W-4 212, 210-147. Currently leased to a mix of professionals, including attorneys and a financial advisor, this building offers a stable and potentially lucrative investment. Its prime location on the corner of N Spruce Street and Texas Street ensures high visibility and accessibility. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location.

Highlights

  • $295,000 asking price for a mixed-use storefront property in Vidalia, LA.
  • 8,058 square feet on a 0.48-acre lot with 10 parking spaces.
  • 9% cap rate with 75% occupancy and a modified lease with 3 years remaining.
  • Features include 5 offices, 5 restrooms, combination HVAC, metal siding/block/brick exterior, concrete slab floor, metal roof, and public utilities.
  • Located at 309 Texas St, Vidalia, LA 71373, in Concordia Parish, with Comm zoning.

Property Details for 309 Texas St

Property type
Retail properties, Mixed-use properties
Square Feet
8,058 SF
Lot Size (sq. ft)
20,909 SF

Location Insight

City
Vidalia
County
Concordia Parish
State
Louisiana
Latitude
31.5680868
Longitude
-91.4275769
309 Texas St, Vidalia, Louisiana

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309 Texas St
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