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

    1140-1150 W CAUSEWAY APPROACH Mandeville, LA 70471

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $785,000

    Two-story office condo in Mandeville with income potential.

    Type:Condo
    Property size:
    5,542 SF
    Price / SF:
    $141/SF
    Added:
    Sep 24, 2024
    Days on Market:
    586
    Last Refresh:
    Apr 1 at 8:19 pm

    Property Features for 1140-1150 W CAUSEWAY APPROACH

    General Information

    Standard status
    Active
    Size
    5,542 SF
    Property subtype
    Condo

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Sally Ansel

    Listing agent Sally Ansel

    Listing office Ansel & Allen Real Estate,LLC

    Listing date Sep 24, 2024

    Source Xome

    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 Ansel & Allen Real Estate,LLC

    Overview

    Four-Unit Office Condo Building

    This two-story office condo building, located in a prime Mandeville location within Westpoint Office Park, offers an investment opportunity. Situated approximately 1 mile from the Causeway, the property consists of four units. The recently vacated first-floor units are combined, measuring approximately 2678 square feet, while the second-floor units each measure approximately 1375 square feet. The spaces feature multiple private offices, reception areas, kitchenettes, and restrooms. The layout is suited for an owner to occupy the downstairs units while generating rental income from the two upstairs units. The interiors are well maintained. The building includes balconies off the sides and front. The condo association maintains common areas, with fees paid quarterly. The entire bottom floor is available for lease at $4200 per month, and the owner may consider leasing half of the lower floor at $2100 per month. The property is located in Flood Zone "X".
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mandeville
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.09665
    Latitude
    30.382179

    Nearby Similar for Sale

    • $795,000
      1,000 SF

      New Warehouse and Office Space

      4,900 sqft metal warehouse with office space for sale.
      269 GENERAL PATTON Avenue, Mandeville, LA 70471
      View Details
    • $624,000
      1,884 SF

      Highway 59 Commercial Space

      Commercial space on Highway 59 with flexible options.
      4055 HIGHWAY 59, Mandeville, LA 70471
      View Details
    • $3,400,000
      1,413 SF

      Waterfront Marina with Rental Cottage

      Income-producing marina with 40+ slips and a charming cottage.
      206 & 212 ATALIN Street, Mandeville, LA 70448
      View Details
    • $1,800
      1,120 SF

      Office with Storage Warehouse

      Office space with warehouse in Mandeville, Louisiana.
      22475 HWY 1088, Mandeville, LA 70448
      View Details
    • $1,890,000
      5,456 SF

      Versatile Property Near Lake Pontchartrain

      Bed & Breakfast or private residence near Mandeville lakefront.
      124 LAFITTE ST, Mandeville, LA 70448
      View Details
    • $1,231,000
      120 SF

      Auto Repair Business For Sale

      Turn-key auto repair business with building, land, and equipment.
      765 ASBURY Drive, Mandeville, LA 70471
      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
    • $2,750,000
      17,718 SF

      Renovated Office Building For Sale

      17,718 SF renovated office building with national tenant.
      233 GENERAL PATTON Avenue, Mandeville, LA 70471
      View Details
    • $440,000
      3,600 SF

      Professional Office Space Available

      Office space in a professional corridor with convenient Causeway access.
      1011 N CAUSEWAY Boulevard 17-20, Mandeville, LA 70471
      View Details
    • $585,000
      2,750 SF

      Mandeville Office Units For Sale

      Two office units in excellent Mandeville location for sale.
      1170 W Causeway Approach, Mandeville, LA 70471
      View Details
    • $2,500,000

      Retail Center Value-Add Opportunity

      Retail center shadow-anchored by Walmart Neighborhood grocery.
      3015 E CAUSEWAY APPROACH, Mandeville, LA 70448
      View Details
    • $1,890,000
      3,468 SF

      Old Mandeville Bed & Breakfast

      Hospitality and residential flexibility near Lake Pontchartrain.
      124 Lafitte, Mandeville, LA 70448
      View Details

    FAQs

    What type of property is this?
    Office units - Two-story office condo in Mandeville with income potential.
    Where is this office units located?
    The property is located at 1140-1150 W CAUSEWAY APPROACH Mandeville, LA.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: Income‑producing property with two upstairs units currently leased.; Prime Mandeville location, approximately 1 mile from Causeway in Westpoint Office Park.; Potential for owner occupancy of downstairs units while generating rental income from upstairs units.
    (985) 893-6688
    We can help!
    Listing Contact
    Sally Ansel
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    1140-1150 W CAUSEWAY APPROACH, Mandeville, LA 70471

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!