Gated Flex Warehouse
147 SMITH ROAD Monroe, LA 71203
New
For Sale
$460,000
COMMERCIAL - Monroe, LA
Property Size6,250 SF
Lot Size1.27 Acres
Price / SF$73.60
Days on Market7
Property Features for 147 SMITH ROAD
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Kitchen
- Standard status
- Active
- APN
- 120503
- Lot size
- 1.27 Acres
Taxes and HOA fees
- Tax Description
- See Associated docs.
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Number of units
- 1
- Building materials
- Metal
- Roof type
- Metal
Listing Agency:
John Rea Realty
(318) 388-0941
Listed By:
Brian Bendily · License #0000075058
(318) 378-5985
Added: Jul 19
Changed: Jul 23
Last Checked: Jul 25 at 3:06PM
MLS# 220232
Copyright © 2026 Northeast Louisiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This gated flex/industrial property is set on 1.27 acres and includes a 6,250 SF structure with both enclosed warehouse and open-bay space. The enclosed 50-by-50 warehouse features two 14-by-14 roll-up doors, walk-in access, and 16-foot eaves. An additional 75-by-50 open-bay section is included, with utility hookups provided at the end open bay. Above the main area is a heavy-load mezzanine built with 2-by-12 joists on one-foot centers.
A 550 SF studio apartment is located inside and includes central HVAC, a full kitchen, and a bath, and could also function as an office. A separate 24-by-52 open pole barn is excluded from the stated square footage. The property also includes SP2-rock parking/work areas on a concrete pad with a 220V hot-water power-wash station, and remaining equipment including a power washer, air compressor, and lifting crane.
Constructed in 2008, with the studio added around 2015, the layout is well suited for service-oriented uses such as roofing, plumbing, electrical, HVAC, and irrigation. Highway 165 North access is described as easy, and the site includes room for a laydown yard.
A 550 SF studio apartment is located inside and includes central HVAC, a full kitchen, and a bath, and could also function as an office. A separate 24-by-52 open pole barn is excluded from the stated square footage. The property also includes SP2-rock parking/work areas on a concrete pad with a 220V hot-water power-wash station, and remaining equipment including a power washer, air compressor, and lifting crane.
Constructed in 2008, with the studio added around 2015, the layout is well suited for service-oriented uses such as roofing, plumbing, electrical, HVAC, and irrigation. Highway 165 North access is described as easy, and the site includes room for a laydown yard.
Key Highlights
- 1.27‑acre Monroe gated property with easy Highway 165 N access and room for a laydown yard
- 6,250 SF metal structure (built 2008) with 50‑by‑50 enclosed warehouse plus a 75‑by‑50 open‑bay section
- Enclosed warehouse features two 14‑by‑14 roll‑up doors, walk‑in access, and 16‑foot eaves
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.5k | $7.44 |
| − Vacancy | −$3.2k | −$0.51 |
| EGI | $43.3k | $6.93 |
| − OpEx | −$6.5k | −$1.04 |
| NOI | $36.8k | $5.89 |
6,250 SF · lease $7.44/SF/yr · vacancy 6.80% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$768.9K
$672.8K – $897.0K
NOI $53,820 @ 7.0% cap · market cap 11.70%
Second Best
Warehouse
$526.2K
$460.5K – $614.0K
NOI $36,837 @ 7.0% cap · market cap 8.01%
Theoretical Best
Multifamily LT 5
$67.32M
$58.91M – $78.54M
NOI $4,712,463 @ 7.0% cap · market cap 1,024.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - Gated 6,250 SF warehouse with enclosed and open-bay areas, plus a studio apartment and pole barn.
Where is this flex space located?
The property is located at 147 SMITH ROAD Monroe, LA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 1.27‑acre Monroe gated property with easy Highway 165 N access and room for a laydown yard; 6,250 SF metal structure (built 2008) with 50‑by‑50 enclosed warehouse plus a 75‑by‑50 open‑bay section; Enclosed warehouse features two 14‑by‑14 roll‑up doors, walk‑in access, and 16‑foot eaves
