Office Condo with Granite
For Sale
$185,000
Pending
389 HWY 21, Madisonville, LA 70447
COMMERCIAL - Madisonville, LA
Property Size925 SF
Days on Market52
Property Features for 389 HWY 21
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking features
Driveway
Subdivision
Arbor Walk
Lot features
Condo
Special listing conditions
Short Sale
Standard status
Pending
APN
9658
Size
925 SF
Utilities
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Louise Brady · License #000054041
(985) 951-9328
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 30 at 4:06PM
MLS# 2559314
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 for-sale office condo offers a private, easily managed workspace within a commercial setting. The unit includes granite counters and disability features, and it is noted as having no carpet. With zoning listed as Comm, the property is positioned for business use consistent with a commercial office condominium format.
The location is on Highway 21 just south of I-12 in Madisonville, providing direct access to a major regional corridor. Public remarks also indicate the property is suited for businesses looking to be along this travel route.
For investors or owner-operators, the condo is described as currently occupied, with income expected through the end of year 2026. That existing tenancy may be relevant for a buyer looking to take over a unit with an in-place occupant rather than starting from vacancy. The unit’s office buildout details—such as the lack of carpet, granite counters, and disability accommodations—can also matter for tenants evaluating day-to-day functionality and accessibility.
The location is on Highway 21 just south of I-12 in Madisonville, providing direct access to a major regional corridor. Public remarks also indicate the property is suited for businesses looking to be along this travel route.
For investors or owner-operators, the condo is described as currently occupied, with income expected through the end of year 2026. That existing tenancy may be relevant for a buyer looking to take over a unit with an in-place occupant rather than starting from vacancy. The unit’s office buildout details—such as the lack of carpet, granite counters, and disability accommodations—can also matter for tenants evaluating day-to-day functionality and accessibility.
Key Highlights
- Office condo on Highway 21 just south of I‑12
- Tenant in place for current income through end of year 2026
- Year built 2008
Financial Insights For Office B
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 | $18.1k | $19.56 |
| − Vacancy | −$4.1k | −$4.43 |
| EGI | $14.0k | $15.13 |
| − OpEx | −$3.5k | −$3.78 |
| NOI | $10.5k | $11.35 |
925 SF · lease $19.56/SF/yr · vacancy 22.65% · expense 25.00%
Alternative Uses
Best Use
Office B
$149.9K
$131.2K – $174.9K
NOI $10,496 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.97M
$8.73M – $11.63M
NOI $698,012 @ 7.0% cap · market cap 377.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 70447, LA
17,120
Population
6,020
Households
2.8
Avg Household Size
36
Median Age
55%
College-Educated
98%
High-School Grad
31.0 sq mi
ZIP Area
552
Density / Sq Mi
$123,841
Median Household Income
$53,770
Median Earnings
$2,182
Median Rent
$390,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Single office condo with granite counters and disability features, currently leased through end of 2026.
Where is this office units located?
The property is located at 389 HWY 21 Madisonville, LA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Office condo on Highway 21 just south of I‑12; Tenant in place for current income through end of year 2026; Year built 2008
