Versatile Commercial Condo
For Sale
$210,000
177-1000 Caruso Blvd, Slidell, LA 70461
Adaptable condo in bustling area, ideal for retail, warehouse, office.
Property Size2,500 SF
Price / SF$84
Days on Market257
Property Features for 177-1000 Caruso Blvd
General Information
Standard status
Active
Size
2,500 SF
Listing Agency:
Demand Realty
(504) 319-0443
Listed By:
Aimee Ashe · License #995705647
(504) 319-0443
Source:
Exprealty
Added: Dec 9, 2025
Changed: Aug 21
Last Checked: Aug 23 at 4:12AM
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 condo is located in the former Old Outlet Mall, situated off Old Spanish Trail, an area that has become a hub for service industry companies and hospitality ventures. The available condo spans approximately 2500 square feet, offering space for various business needs. The location features lighted parking, ensuring convenience and safety for customers and employees. Its strategic placement allows for easy access to and from the interstate, facilitating smooth logistics and customer accessibility. The flexibility of the space is another major draw. This condo can accommodate diverse business requirements, including retail, warehouse, or office/showroom. Smaller units are also available, catering to different business scales and needs. Its adaptable layout and prime location make it an attractive prospect for businesses aiming to establish or expand their presence in a bustling commercial area. This commercial condo offers possibilities in a well-connected and adaptive environment, making it an investment for entrepreneurs looking to capitalize on a strategic location and versatile space. The condo fee is $253.00.
Key Highlights
- Prime location off Old Spanish Trail in a transformed hub.
- Approximately 2500 square feet of flexible space suitable for retail, warehouse, or office/showroom use.
- Easy access to and from the interstate.
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
$18,532
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
8.82%
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%
$370,640
$370.6K
Cap Rate 7%
$264,743
$264.7K
Cap Rate 9%
$205,911
$205.9K
Market Conditions
NOI Build-Up for 2,500 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
$22.5K $9.00/SF
− Vacancy
−$698 −$0.28/SF
EGI
$21.8K $8.72/SF
− OpEx
−$3.3K −$1.31/SF
NOI
$18.5K $7.41/SF
Area
St. Tammany County, LA
Vacancy
3.10%
Lease Rate
$9.00 /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%
$370,640
Cap Rate 7%
$264,743
Cap Rate 9%
$205,911
Alternative Uses
Best Use
Office B
$405.3K
$354.6K – $472.8K
NOI $28,368 @ 7.0% cap · market cap 13.51%
Second Best
Retail
$358.1K
$313.4K – $417.8K
NOI $25,069 @ 7.0% cap · market cap 11.94%
Theoretical Best
Multifamily LT 5
$26.95M
$23.58M – $31.44M
NOI $1,886,520 @ 7.0% cap · market cap 898.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
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 Office 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?
Retail space - Adaptable condo in bustling area, ideal for retail, warehouse, office.
Where is this retail space located?
The property is located at 177-1000 Caruso Blvd Slidell, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Prime location off Old Spanish Trail in a transformed hub.; Approximately 2500 square feet of flexible space suitable for retail, warehouse, or office/showroom use.; Easy access to and from the interstate.
