Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    639 Lotus Dr Mandeville, LA 70471

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $649,000

    High-Visibility Multi-Tenant Property in Mandeville

    Property size:
    6,415 SF

    Property Features for 639 Lotus Dr

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,415 SF
    Lot Size
    22,216 SF

    Building Details

    Year Built
    2001

    We can help!

    Listing Contact
    Charles Tassin

    Listing Agency: Scoggin Properties, Inc. Listing Agent: Charles Tassin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional multi-tenant commercial building, located at 639 N LOTUS Drive Unit 1-3, Mandeville, LA, presents a compelling investment opportunity. Boasting 6,415 square feet on a 0.51-acre lot, the property enjoys excellent visibility with 104.8 feet of frontage on Lotus Drive North. Its B-2 zoning makes it highly desirable. The building comprises three units. The front unit, a nearly turnkey former dental office, is ideal for a dentist seeking a Mandeville location. The rear unit is currently leased to a long-term tenant under a 5-year lease at $1848.00 per month. The center unit is vacant and includes an upstairs apartment. Recent repainting enhances the property's appeal, and ample parking is available. The building's strategic location in Mandeville, combined with its versatile layout and strong leasing potential, makes it an attractive investment. The asking price is below a recent appraisal, representing significant value for a discerning buyer. This property offers a blend of immediate income generation from the leased unit and the potential for increased revenue through leasing the vacant space. The turnkey dental office presents a unique opportunity for a quick start. The property's size and location in a desirable area of Mandeville ensure strong potential for long-term growth and profitability.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Esp Receivables Management ... Accounting Firm Dr. Bruce Groom Pediatrician Dr. Michael Glassinger Physician Clark Family Dentistry Dental Office Dr. Robert J. ... Dental Office

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mandeville
    County
    St Tammany
    State
    Louisiana
    Longitude
    -90.10619
    Latitude
    30.3983

    Nearby Similar for Sale

    • $1,231,000
      120 SF

      Established Auto Repair Business For Sale

      Turn-key auto repair business with building, land, and equipment.
      765 Asbury Dr, Mandeville, LA 70471
      View Details
    • $514,900
      2,992 SF

      Updated Duplex in Old Mandeville

      Updated duplex with modern amenities and covered parking in Mandeville.
      804 Carroll St, Mandeville, LA 70448
      View Details
    • $1,995,000

      Class A Office Building

      Move-in ready office building near Interstate 12 in Mandeville.
      68031 Capital Trace Row, Mandeville, LA 70471
      View Details
    • $519,900
      2,992 SF

      Updated Duplex in Old Mandeville

      Updated duplex in Old Mandeville with modern amenities and parking.
      800 Carroll St, Mandeville, LA 70448
      View Details
    • $3,400,000
      1,413 SF

      Waterfront Marina with Income Potential

      Income-producing marina with cottage on 3.1 acres overlooking Lake Pontchartrain.
      206 Atalin St, Mandeville, LA 70448
      View Details
    • $649,000
      1,884 SF

      Highway 59 Commercial Space

      Commercial space on Highway 59, ideal for retail or office.
      4055 Hwy 59 Hwy, Mandeville, LA 70471
      View Details
    • $1,890,000
      5,456 SF

      Versatile Property Near Lake Pontchartrain

      Bed & Breakfast or private residence near Mandeville lakefront.
      124 Lafitte St St, Mandeville, LA 70448
      View Details
    • Contact for pricing
      1,120 SF

      Office with Storage Warehouse

      Office space with warehouse in Mandeville, Louisiana.
      22475 None, Mandeville, LA 70448
      View Details
    • New
      $1,200,000
      6,142 SF

      Mandeville Work-Live Commercial Property

      Commercial offices, warehouse, and residence with tennis court.
      633 Vlg Ln Ln N, Mandeville, LA 70471
      View Details
    • $2,750,000

      Renovated Office Building For Sale

      17,718 SF renovated office building with national tenant.
      233 General Patton Ave, Mandeville, LA 70471
      View Details
    • Contact for pricing
      3,600 SF

      Professional Office Space Available

      Office space in a professional corridor with convenient Causeway access.
      1011 N Causeway Blvd, Mandeville, LA 70471
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-Visibility Multi-Tenant Property in Mandeville
    Where is this commercial real estate located?
    The property is located at 639 Lotus Dr Mandeville, LA.
    What is the asking price?
    The asking price for this property is $649,000.
    (985) 867-8670
    Request Owner's contact information
    639 Lotus Dr Mandeville, LA 70471
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    639 Lotus Dr
    Mandeville, LA 70471
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    639 Lotus Dr Mandeville, LA 70471
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Charles Tassin
    (985) 867-8670
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!