Flexible Commercial Condo
For Sale
$170,000
175-1000 Caruso Blvd, Slidell, LA 70461
Adaptable commercial condo suited to retail, warehouse, or office and showroom functions.
Property Size2,200 SF
Price / SF$77.27
Days on Market16
Property Features for 175-1000 Caruso Blvd
General Information
Standard status
Active
Size
2,200 SF
Listing Agency:
Demand Realty
(504) 837-3000
Listed By:
Aimee Ashe · License #000058172
(504) 319-0443
Source:
Exprealty
Added: Sep 12
Changed: Sep 23
Last Checked: Sep 26 at 12:56PM
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 Demand Realty
Investment Insights
Based on property information with market context.
This commercial condominium provides approximately 2,200 square feet for a range of business configurations. The space can accommodate retail operations, warehouse functions, or a combined office and showroom setup. Renovations remain incomplete, allowing the interior work to be tailored to the eventual business use. Smaller units are also available for users with more limited space requirements.
The property is at 175-1000 Caruso Blvd in Slidell, Louisiana, off Old Spanish Trail and within the former Old Outlet Mall. Lighted parking serves the commercial setting, while access to and from the interstate supports customer and business connectivity.
The property is at 175-1000 Caruso Blvd in Slidell, Louisiana, off Old Spanish Trail and within the former Old Outlet Mall. Lighted parking serves the commercial setting, while access to and from the interstate supports customer and business connectivity.
Key Highlights
- Approximately 2200 square feet of commercial condo space
- Flexible layout for retail, warehouse, or office/showroom use
- Renovations are not complete
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
$13,430
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
7.90%
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%
$268,600
$268.6K
Cap Rate 7%
$191,857
$191.9K
Cap Rate 9%
$149,222
$149.2K
Market Conditions
NOI Build-Up for 2,200 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
$19.8K $9.00/SF
− Vacancy
−$614 −$0.28/SF
EGI
$19.2K $8.72/SF
− OpEx
−$5.8K −$2.62/SF
NOI
$13.4K $6.10/SF
Area
St. Tammany County, LA
Vacancy
3.10%
Lease Rate
$9.00 /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%
$268,600
Cap Rate 7%
$191,857
Cap Rate 9%
$149,222
Alternative Uses
Best Use
Retail
$315.2K
$275.8K – $367.7K
NOI $22,061 @ 7.0% cap · market cap 12.98%
Second Best
Flex RnD
$296.9K
$259.8K – $346.4K
NOI $20,785 @ 7.0% cap · market cap 12.23%
Theoretical Best
Multifamily LT 5
$23.72M
$20.75M – $27.67M
NOI $1,660,138 @ 7.0% cap · market cap 976.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70461, LA
30,740
Population
12,900
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
89%
High-School Grad
53.5 sq mi
ZIP Area
575
Density / Sq Mi
$88,035
Median Household Income
$48,351
Median Earnings
$1,201
Median Rent
$267,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial condo suited to retail, warehouse, or office and showroom functions.
Where is this flex space located?
The property is located at 175-1000 Caruso Blvd Slidell, LA.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Approximately 2200 square feet of commercial condo space; Flexible layout for retail, warehouse, or office/showroom use; Renovations are not complete
