A Modified Gross Lease is a type of commercial lease agreement where the tenant pays a base rent along with a specified combination of the operating expenses associated with the property. These expenses can include utilities, maintenance, insurance, and taxes. The unique aspect of this lease is the negotiation flexibility it offers, allowing tenants and landlords to tailor the agreement...
In the commercial real estate world, It is important to understand the classification of various properties. This is especially true for unique properties like churches, which serve specific purposes and hold special places in communities. A common question that arises is whether churches are considered commercial or residential properties. The Classification of Churches in Real Estate Churches are generally classified as commercial...
Overall Dollar Volume is up 1.79% The trailing 12 month total dollar volume of sales was $682.1M at the end of Feb 2024 vs. $670.1M at the end of the prior month. Overall Deal Velocity is steady The trailing 12 month sale count was 403 at the end of Feb 2024. [pdfjs-viewer url="https://elifinrealty.com/wp-content/uploads/2024/03/Market-Report-New-Orleans-LA-February-2024.pdf" attachment_id="10903" viewer_width=100% viewer_height=800px fullscreen=true download=true print=true]...
Overall Dollar Volume is up 3.62% The trailing 12 month total dollar volume of sales was $610.9M at the end of Feb 2024 vs. $589.6M at the end of the prior month. Overall Deal Velocity is up 0.48% The trailing 12 month sale count was 415 at the end of Feb 2024 vs. 413 at the end of the prior month. [pdfjs-viewer url="https://elifinrealty.com/wp-content/uploads/2024/03/Market-Report-Baton-Rouge-LA-February-2024.pdf" attachment_id="10901"...
A weekly update on the commercial real estate landscape of Lafayette. Commercial Sales Recorded Last Week 1003 Camellia Blvd, Lafayette, LA 70508 Type: Mixed-Use Price: $2,475,000 ($253.12 / SF) Buyer: MD4 PROPERTIES LLC Elifin's Notes: A pair of Youngsville-based investors purchase a newly constructed commercial property with two office suites on the first floor and two residential 3BR/3BA units on the second floor 804 East Saint Mary...
A weekly update on the commercial real estate landscape of Baton Rouge and Ascension. Commercial Sales Recorded Last Week 9522 Brookline Ave, Baton Rouge, LA 70809 Type: Office Price: $1,650,000 ($89.75 / SF) Buyer: 9522 Brookline LLC Elifin's Notes: Local investor purchases Brookline Ave office building off Drusilla Lane. Tract B-2-A-1-A-2-B-3 West Lee Dr, Baton Rouge, LA 70820 Type: Land Price: $1,525,000 ($28.70 / Land SF) Buyer: Tasty Delites Southeast...
A weekly update on the commercial real estate landscape of New Orleans. Commercial Sales Recorded Last Week 4422 General Meyer Ave, New Orleans, LA 70131 Type: Healthcare Price: $1,325,000 ($39.18 / SF) Buyer: EXCELTH INC Elifin's Notes: Excelth, a primary health care company, purchases their location in Algiers adjacent to Edna Karr High School 809 Behrman Highway, Terrytown, LA 70056 Type: Retail Price: $1,150,000 ($115.00 / SF) Buyer: 809 BEHRMAN...
A weekly update on the commercial real estate landscape of Lafayette. Commercial Sales Recorded Last Week 3144 Ambassador Caffery Pkwy, Lafayette, LA 70506 Type: Retail Price: $2,272,549 ($766.98 / SF) Buyer: WENDYS PROPERTIES LLC Elifin's Notes: The Wendy's main office acquire one of their franchise properties in front of the Wal-Mart on Ambassador Caffery Parkway 3510 West Pinhook Rd, Lafayette, LA 70508 Type: Retail Price: $2,045,071 ($681.69 / SF) Buyer:...
A weekly update on the commercial real estate landscape of New Orleans. Commercial Sales Recorded Last Week 1332 Esplanade Ave, New Orleans, LA 70116 Type: Multifamily Price: $1,125,000 ($187,500 / Unit) Buyer: 1332 ESPLANADE AVE LLC Elifin's Notes: A 6-unit multifamily property changes hands in Tremé 1536 River Oaks Rd W, New Orleans, LA 70123 Type: Industrial Price: $965,000 ($112.21 / SF) Buyer: COFFEE COTTAGE INC Elifin's Notes: Caluda's Cottage Catering...
A weekly update on the commercial real estate landscape of Baton Rouge and Ascension. Commercial Sales Recorded Last Week 17340, 17346, 17354 Airline Hwy, Prairieville, LA 70769 Type: Retail Price: $820,000 ($88.79 / SF) Buyer: Lap Nguyen LLC Elifin's Notes: A three building retail property, anchored by the Fat Cat Saloon, sells along Airline Highway in Prairieville 3060 Valley Creek Dr, Baton Rouge, LA 70808 Type: Office Price: $500,000...