Mixed-Use Property with
For Sale
$849,999
2236/2238 1ST Street, Slidell, LA 70458
Commercial, Slidell, LA
Property Size4,493 SF
Lot Size0.33 Acres
Price / SF$189.18
Days on Market163
Property Features for 2236/2238 1ST Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
com
Parking features
Off Street
Subdivision
Olde Town
Lot features
Oversized
Standard status
Active
APN
91610
Size
4,493 SF
Lot size
0.33 Acres
Utilities
Water source
Public
Amenities
balcony
covered porch
workshop
ornamental iron gates
privacy fencing
Building Details
Year built
1980
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Todd Pichon · License #995701142
(985) 710-1018
Added: Mar 16
Changed: Aug 19
Last Checked: Aug 25 at 11:06AM
MLS# 2547848
Copyright © 2026 New Orleans Metropolitan 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 mixed-use property combines commercial space on the ground level with residential living above, offering a live-work configuration within 4,493 square feet of combined commercial and living area. The 5,453-square-foot property includes an open-concept upper level, a 16' x 30' second-story balcony, and a matching 16' x 30' covered porch. A 28' x 20' workshop is equipped with electricity and air conditioning. Ornamental iron gates and privacy fencing secure the site, while off-street parking accommodates up to 20 vehicles on the 1/3-acre parcel.
Located at 2236/2238 1ST Street in Slidell's Olde Towne district, the property sits directly on the parade route and is within the walkable community setting described in the listing. Public water service is available, and the property carries com zoning.
Located at 2236/2238 1ST Street in Slidell's Olde Towne district, the property sits directly on the parade route and is within the walkable community setting described in the listing. Public water service is available, and the property carries com zoning.
Key Highlights
- 4,493 SF of combined commercial space and living area within a 5,453‑square‑foot property
- Ground‑level commercial space with residential living above
- 16' x 30' second‑story balcony and matching 16' x 30' covered porch
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,983
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,019,660
$1.0M
Cap Rate 7%
$728,329
$728.3K
Cap Rate 9%
$566,478
$566.5K
Market Conditions
NOI Build-Up for 4,493 SF
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.
Gross rent
$87.9K $19.56/SF
− Vacancy
−$19.9K −$4.43/SF
EGI
$68.0K $15.13/SF
− OpEx
−$17.0K −$3.78/SF
NOI
$51.0K $11.35/SF
Area
St. Tammany County, LA
Vacancy
22.65%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,019,660
Cap Rate 7%
$728,329
Cap Rate 9%
$566,478
Alternative Uses
Best Use
Office B
$728.3K
$637.3K – $849.7K
NOI $50,983 @ 7.0% cap · market cap 6.00%
Second Best
Mixed Use
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 5.47%
Theoretical Best
Multifamily LT 5
$48.44M
$42.38M – $56.51M
NOI $3,390,454 @ 7.0% cap · market cap 398.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 70458, LA
37,798
Population
17,026
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,809
Density / Sq Mi
$69,816
Median Household Income
$44,368
Median Earnings
$1,400
Median Rent
$227,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space pairs with upper-level living, outdoor gathering areas, and secured off-street parking.
Where is this mixed-use property located?
The property is located at 2236/2238 1ST Street Slidell, LA.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 4,493 SF of combined commercial space and living area within a 5,453‑square‑foot property; Ground‑level commercial space with residential living above; 16' x 30' second‑story balcony and matching 16' x 30' covered porch
