Gated Flex Space with Laydown
For Sale
$425,000
147 SMITH ROAD, Monroe, LA 71203
COMMERCIAL - Monroe, LA
Property Size6,250 SF
Lot Size1.27 Acres
Price / SF$68
Days on Market42
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
Active
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
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 13
Last Checked: Aug 29 at 11:06AM
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 at 147 Smith Road in Monroe occupies 1.27 acres and includes a 6,250 SF metal structure. The building combines a 50-by-50 enclosed warehouse with two 14-by-14 roll-up doors, walk-in access, and 16-foot eaves, along with a 75-by-50 open-bay area. A 550 SF studio apartment with central HVAC, kitchen, and full bath was added around 2015 and can function as office space. The building was constructed in 2008 and also includes a heavy-load mezzanine supported by 2-by-12 joists on one-foot centers.
The site has Highway 165 North access, SP2-rock parking and work areas, and room for a laydown yard. A concrete pad includes a 220V hot-water power-wash station, with the power washer, air compressor, and lifting crane remaining. The open bay has power, water, and an RV sewer/dump connection, while additional water points and washer/dryer hookups are in place. A separate 24-by-52 open pole barn is excluded from the stated square footage.
The site has Highway 165 North access, SP2-rock parking and work areas, and room for a laydown yard. A concrete pad includes a 220V hot-water power-wash station, with the power washer, air compressor, and lifting crane remaining. The open bay has power, water, and an RV sewer/dump connection, while additional water points and washer/dryer hookups are in place. A separate 24-by-52 open pole barn is excluded from the stated square footage.
Key Highlights
- 1.27‑acre gated flex property at 147 SMITH ROAD, Monroe, LA 71203
- 6,250 SF structure with enclosed warehouse and open‑bay space
- 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
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Frequently Asked Questions
What type of property is this?
Flex space - Metal flex facility with warehouse, open-bay, office, and service-business infrastructure.
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 at 147 SMITH ROAD, Monroe, LA 71203; 6,250 SF structure with enclosed warehouse and open‑bay space; 50‑by‑50 enclosed warehouse with two 14‑by‑14 roll‑up doors and 16‑foot eaves
