Flex Space with Gated
For Sale
$250,000
115 ROYAL STREET, West Monroe, LA 71291
COMMERCIAL/INDUSTRIAL, West Monroe, LA
Property Size4,260 SF
Lot Size0.15 Acres
Price / SF$58.69
Days on Market171
Property Features for 115 ROYAL STREET
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Interior features
Skylight(s)
Lot features
Flood Zone/ I N S Req., Loc. in City Limits
Directions
North 7th. to Drago by Kilpatrick to Royal St.
Subdivision
161 WM City Central / Kiroli Park to I-20
Standard status
Active
APN
112801
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
0144 AC IN LOTS 29 & 30 OF ORIGINAL WEST MONROE COMMERCIAL CENTER...
Legal Description
0144 AC IN LOTS 29 & 30 OF ORIGINAL WEST MONROE COMMERCIAL CENTER...
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
custom cypress bar
air compressor lines
skylight panels
panic/safe room
Building Details
Building materials
Metal
Roof type
Metal
Listing Agency:
Vanguard Realty
(318) 855-2925
Listed By:
Shelly Witherington
(318) 355-8447
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 13 at 3:06PM
MLS# 218663
Copyright © 2026 Northeast Louisiana 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.
Located at 115 Royal Street in West Monroe, this 4,260-square-foot flex property includes approximately 3,000 square feet of heated and cooled workspace plus 1,260 square feet under roof. The metal building has central HVAC, a metal roof, an office with built-in desk and cabinetry, extensive shelving, a bathroom with utility sink, and a custom cypress bar. Skylight panels add natural light, while an automatic roll-up door and two entry and exit doors support access throughout the building.
The 0.15-acre property is fully fenced and gated, with covered area suited to parking, storage, or additional workspace. Air compressor lines extend throughout the building, and a panic or safe room provides a dedicated secure-storage area. The property is described as suitable for automotive or hobby garage use, contractor operations, creative workshop activities, and equipment storage.
The 0.15-acre property is fully fenced and gated, with covered area suited to parking, storage, or additional workspace. Air compressor lines extend throughout the building, and a panic or safe room provides a dedicated secure-storage area. The property is described as suitable for automotive or hobby garage use, contractor operations, creative workshop activities, and equipment storage.
Key Highlights
- 4,260 SF total building area with approximately 3,000 heated and cooled SF
- Additional 1,260 SF under roof for covered parking, equipment storage, or workspace
- Fully fenced 0.15‑acre site with gated access
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
$21,515
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
8.61%
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%
$430,300
$430.3K
Cap Rate 7%
$307,357
$307.4K
Cap Rate 9%
$239,056
$239.1K
Market Conditions
NOI Build-Up for 4,260 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
$33.2K $7.80/SF
− Vacancy
−$2.5K −$0.59/SF
EGI
$30.7K $7.22/SF
− OpEx
−$9.2K −$2.16/SF
NOI
$21.5K $5.05/SF
Area
Ouachita County, LA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$430,300
Cap Rate 7%
$307,357
Cap Rate 9%
$239,056
Alternative Uses
Best Use
Flex RnD
$524.1K
$458.6K – $611.4K
NOI $36,684 @ 7.0% cap · market cap 14.67%
Second Best
Warehouse
$358.7K
$313.9K – $418.5K
NOI $25,108 @ 7.0% cap · market cap 10.04%
Theoretical Best
Multifamily LT 5
$45.89M
$40.15M – $53.53M
NOI $3,212,015 @ 7.0% cap · market cap 1,284.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71291, LA
34,670
Population
15,290
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
91%
High-School Grad
65.5 sq mi
ZIP Area
529
Density / Sq Mi
$69,012
Median Household Income
$46,127
Median Earnings
$974
Median Rent
$219,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled workspace combines office amenities, storage features, and covered exterior area within a secured compound.
Where is this flex space located?
The property is located at 115 ROYAL STREET West Monroe, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 4,260 SF total building area with approximately 3,000 heated and cooled SF; Additional 1,260 SF under roof for covered parking, equipment storage, or workspace; Fully fenced 0.15‑acre site with gated access
