Gated Flex Space with
For Sale
$425,000
Pending
147 SMITH ROAD, Monroe, LA 71203
COMMERCIAL/INDUSTRIAL, Monroe, LA
Property Size6,250 SF
Lot Size1.27 Acres
Days on Market52
Property Features for 147 SMITH ROAD
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Kitchen
Lot features
Located in Parish
Directions
Head down Hwy 165, down horseshoe lake road, left on to woodland road, then right onto smith road. Destination on the left.
Subdivision
135 HWY 165 N/Egrets Landing/Sterlington Area
Standard status
Pending
APN
120503
Lot size
1.27 Acres
Taxes and HOA fees
Tax Description
See Associated docs.
Legal Description
See Associated docs.
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Amenities
gated
laydown yard
concrete pad
power wash station
RV sewer connection
multiple water points
washer/dryer hookups
Building Details
Number of units
1
Building materials
Metal
Roof type
Metal
Listing Agency:
John Rea Realty
(318) 388-0941
Listed By:
Brian Bendily · License #0000075058
(318) 378-5985
Added: Jul 19
Changed: Aug 31
Last Checked: Sep 8 at 3:06PM
MLS# 220232
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.
This gated flex property occupies 1.27 acres and includes a 6,250-square-foot metal structure built in 2008. The building combines an enclosed warehouse with a larger open-bay work area, while a 550-square-foot studio added around 2015 provides central HVAC, a full kitchen, and a bathroom for office or living use. A heavy-load mezzanine sits above the studio. The separate 24-by-52 open pole barn is not included in the stated building area.
The site provides SP2-rock parking and work surfaces, a concrete pad, and a 220V hot-water power-wash station. Existing equipment includes the power washer, air compressor, and lifting crane. The open bay has power, water, and an RV sewer and dump connection, with additional water points and washer-and-dryer hookups. Access is available from Highway 165 North, and the property includes space for a laydown yard.
The site provides SP2-rock parking and work surfaces, a concrete pad, and a 220V hot-water power-wash station. Existing equipment includes the power washer, air compressor, and lifting crane. The open bay has power, water, and an RV sewer and dump connection, with additional water points and washer-and-dryer hookups. Access is available from Highway 165 North, and the property includes space for a laydown yard.
Key Highlights
- 1.27‑acre gated flex property with Highway 165 North access
- 6,250 SF metal structure built in 2008
- 50‑by‑50 enclosed warehouse with two 14‑by‑14 roll‑up doors and 16‑foot eaves
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
$36,837
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
8.67%
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%
$736,740
$736.7K
Cap Rate 7%
$526,243
$526.2K
Cap Rate 9%
$409,300
$409.3K
Market Conditions
NOI Build-Up for 6,250 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
$46.5K $7.44/SF
− Vacancy
−$3.2K −$0.51/SF
EGI
$43.3K $6.93/SF
− OpEx
−$6.5K −$1.04/SF
NOI
$36.8K $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 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%
$736,740
Cap Rate 7%
$526,243
Cap Rate 9%
$409,300
Alternative Uses
Best Use
Flex RnD
$768.9K
$672.8K – $897.0K
NOI $53,820 @ 7.0% cap · market cap 12.66%
Second Best
Warehouse
$526.2K
$460.5K – $614.0K
NOI $36,837 @ 7.0% cap · market cap 8.67%
Theoretical Best
Multifamily LT 5
$67.32M
$58.91M – $78.54M
NOI $4,712,463 @ 7.0% cap · market cap 1,108.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 71203, LA
37,438
Population
17,178
Households
2.2
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
118.5 sq mi
ZIP Area
316
Density / Sq Mi
$46,822
Median Household Income
$35,630
Median Earnings
$987
Median Rent
$181,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Gated commercial property with warehouse, open-bay work areas, and Highway 165 North access.
Where is this flex space located?
The property is located at 147 SMITH ROAD Monroe, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1.27‑acre gated flex property with Highway 165 North access; 6,250 SF metal structure built in 2008; 50‑by‑50 enclosed warehouse with two 14‑by‑14 roll‑up doors and 16‑foot eaves
