Flex Space with Warehouse
For Sale
$299,000
1418 Ridge Dr, West Monroe, LA 71292
The office layout includes a large open area, several large offices, and two bathrooms.
Property Size4,500 SF
Price / SF$66.44
Days on Market16
Property Features for 1418 Ridge Dr
General Information
Standard status
Active
Size
4,500 SF
Listing Agency:
Coldwell Banker Group One Realty
Listed By:
Mark Ouchley · License #0000018923
(318) 376-7458
Source:
Exprealty
Added: Oct 22
Changed: Nov 5
Last Checked: Nov 4 at 3:45PM
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 Coldwell Banker Group One Realty
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Investment Insights
Based on property information with market context.
This flex space combines approximately 3,000 square feet of office area with 1,500 square feet of warehouse space. The office component includes a large open area, larger private offices, and two bathrooms. A portion of the office area could be converted back to warehouse use, allowing the layout to be adjusted between office and warehouse functions.
Key Highlights
- Approximately 3,000 square feet of office space and 1,500 square feet of warehouse space
- Part of the office area can be converted back to warehouse use
- Large open area, spacious offices, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,523
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,460
$530.5K
Cap Rate 7%
$378,900
$378.9K
Cap Rate 9%
$294,700
$294.7K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$33.5K $7.44/SF
− Vacancy
−$2.3K −$0.51/SF
EGI
$31.2K $6.93/SF
− OpEx
−$4.7K −$1.04/SF
NOI
$26.5K $5.89/SF
Area
Ouachita County, LA
Vacancy
6.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,460
Cap Rate 7%
$378,900
Cap Rate 9%
$294,700
Alternative Uses
Best Use
Office B
$1.94M
$1.69M – $2.26M
NOI $135,521 @ 7.0% cap · market cap 45.32%
Second Best
Flex RnD
$553.6K
$484.4K – $645.8K
NOI $38,750 @ 7.0% cap · market cap 12.96%
Theoretical Best
Multifamily LT 5
$48.47M
$42.41M – $56.55M
NOI $3,392,973 @ 7.0% cap · market cap 1,134.77%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 71292, LA
22,774
Population
10,257
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
84%
High-School Grad
153.7 sq mi
ZIP Area
148
Density / Sq Mi
$51,317
Median Household Income
$40,879
Median Earnings
$885
Median Rent
$119,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - The office layout includes a large open area, several large offices, and two bathrooms.
Where is this flex space located?
The property is located at 1418 Ridge Dr West Monroe, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 3,000 square feet of office space and 1,500 square feet of warehouse space; Part of the office area can be converted back to warehouse use; Large open area, spacious offices, and two bathrooms
