328 Desiard StMonroe, LA 71201

Property Details for 328 Desiard St

Year built

1904

Lot size

0.23 AC

Property type

Office properties

Property subtype

Other office properties

APN

83932

APU

83932

Description

This exceptional Class A office building, totaling 25,000 square feet, presents a unique opportunity for immediate occupancy. Located in Monroe, Louisiana's Central Business District (CBD), this three-story building boasts a desirable location, offering convenient access to the freeway (within a half-mile). Previously occupied by a Blue Cross/Blue Shield subsidiary, the property features a mix of private offices, open workspaces, and a large training room, ideal for a corporate headquarters. The building underwent renovations in 2014, complementing its original 1930 construction. The 25,000 square foot building includes 24,000 square feet of office space and 1,000 square feet of mechanical space. Floor plans consist of 9,000 square feet on the first floor, and 8,000 square feet each on the second and third floors. A significant advantage is the inclusion of a 21,120 square foot paved and secured lot providing ample parking for employees and visitors (approximately 32 spaces). The property enjoys excellent street frontage on Desiard, Catalpa, and Harrison Streets. Utilities, including HVAC, are fully operational. A passenger elevator is also available. The property sits in a flood zone X area and is zoned for high-density commercial use. Nearby prominent neighbors include the Ouachita Parish Courthouse, St. Francis Hospital, the 141 Building, and Vantage Healthcare. The asking price is $2,100,000, translating to $84 per square foot. This is a turnkey solution for a business seeking a prestigious and functional corporate headquarters in a thriving downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,613,043

  6.5%

  $1,488,963

  7%

  $1,382,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,917,507

  Geo Method

  $726,173

• Alternative Use

  Use

  Valuation

  Residential

  $1,846,314

  Hospitality

  $1,691,214

  Educational

  $1,407,070

  Medical

  $1,455,461

  Retail

  $2,188,776

Location Insight

City

Monroe

County

Ouachita

State

Louisiana

Latitude

32.5027

Longitude

-92.1154

CBSA code

33740

CBSA name

MONROE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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