Mixed-Use Property with
New
For Sale
$499,000
1114 Girod St, Mandeville, LA 70448
HC-2-zoned property combines office, retail, warehouse, and residential space on Girod St.
Property Size1,619 SF
Price / SF$308.21
Days on Market7
Property Features for 1114 Girod St
General Information
Standard status
Active
Size
1,619 SF
Zoning
HC-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
1,152 SF
Building Details
Year Built
1950
Buildings
2
Listing Agency:
Investors' Realty
Listed By:
Joseph Hermo · License #000034853
(504) 228-6666
Source:
Fiorellaavenue
Added: Sep 21
Changed: Sep 27
Last Checked: Sep 26 at 12:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Investors' Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a 1,619-square-foot office and retail building plus a separate 1,152-square-foot warehouse positioned behind it. The front structure contains a foyer, reception and waiting area, two offices, and a bathroom. Its rear portion is configured as a residential unit with a kitchen, living room, bedroom, and bathroom, and is currently occupied by a tenant.
The property is located at 1114 Girod St, identified in the source information as Hwy 59, and carries HC-2 zoning. The original structure dates to 1950 and was renovated in the last few years. The warehouse was constructed approximately three years ago, adding a newer support building to the site.
The property is located at 1114 Girod St, identified in the source information as Hwy 59, and carries HC-2 zoning. The original structure dates to 1950 and was renovated in the last few years. The warehouse was constructed approximately three years ago, adding a newer support building to the site.
Key Highlights
- HC‑2 zoning at 1114 Girod St, identified as Hwy 59
- 1,619‑square‑foot office and retail building
- Separate 1,152‑square‑foot warehouse at the rear
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
$16,757
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
3.36%
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%
$335,140
$335.1K
Cap Rate 7%
$239,386
$239.4K
Cap Rate 9%
$186,189
$186.2K
Market Conditions
NOI Build-Up for 1,619 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
$29.1K $18.00/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$26.8K $16.56/SF
− OpEx
−$10.1K −$6.21/SF
NOI
$16.8K $10.35/SF
Area
St. Tammany County, LA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$335,140
Cap Rate 7%
$239,386
Cap Rate 9%
$186,189
Alternative Uses
Best Use
Mixed Use
$239.4K
$209.5K – $279.3K
NOI $16,757 @ 7.0% cap · market cap 3.36%
Second Best
Retail
$231.9K
$202.9K – $270.6K
NOI $16,235 @ 7.0% cap · market cap 3.25%
Theoretical Best
Multifamily LT 5
$17.45M
$15.27M – $20.36M
NOI $1,221,710 @ 7.0% cap · market cap 244.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 70448, LA
25,670
Population
10,372
Households
2.5
Avg Household Size
41
Median Age
45%
College-Educated
93%
High-School Grad
21.9 sq mi
ZIP Area
1,172
Density / Sq Mi
$88,929
Median Household Income
$50,824
Median Earnings
$1,415
Median Rent
$324,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - HC-2-zoned property combines office, retail, warehouse, and residential space on Girod St.
Where is this mixed-use property located?
The property is located at 1114 Girod St Mandeville, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: HC‑2 zoning at 1114 Girod St, identified as Hwy 59; 1,619‑square‑foot office and retail building; Separate 1,152‑square‑foot warehouse at the rear
