Commercial Land with Street
For Sale
$629,000
1851 Florida St, Mandeville, LA 70448
Corner parcel with redevelopment potential and access from both Florida Street and Marigny Avenue.
Property Size2,784 SF
Price / SF$225.93
Days on Market300
Property Features for 1851 Florida St
General Information
Standard status
Active
Size
2,784 SF
Property subtype
Retail
Zoning
COMMERCIAL
Amenities
Power
Water
Natural Gas
Vacant
Listing Agency:
ABEK Real Estate
(985) 788-4993
Listed By:
Larry Haik
(985) 788-4993
Source:
Lacdb.resimplifi
Added: Nov 3, 2025
Changed: Aug 29
Last Checked: Aug 26 at 12:19PM
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 ABEK Real Estate
Investment Insights
Based on property information with market context.
This commercial land parcel is positioned at the corner of Florida Street and Marigny Avenue in Mandeville. The property includes an existing restaurant building constructed in 2010 that may be renovated, while the site also supports a redevelopment concept for a QSR, restaurant, bank, or other retail use as identified in the property information.
The parcel provides 440 feet of combined street frontage, including 180 feet along Florida Street and 260 feet along Marigny Avenue. Marigny Avenue is described as a wide roadway with a median, and the property offers access from either direction. The site is approximately one block from the intersection with 59, adding a nearby connection point for commercial users.
The parcel provides 440 feet of combined street frontage, including 180 feet along Florida Street and 260 feet along Marigny Avenue. Marigny Avenue is described as a wide roadway with a median, and the property offers access from either direction. The site is approximately one block from the intersection with 59, adding a nearby connection point for commercial users.
Key Highlights
- 440 feet of combined frontage: 180 feet on Florida Street and 260 feet on Marigny Avenue
- Corner location at Florida Street and Marigny Avenue in Mandeville, LA
- Existing restaurant building constructed in 2010 may be renovated
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
$49,771
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
7.91%
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%
$995,420
$995.4K
Cap Rate 7%
$711,014
$711.0K
Cap Rate 9%
$553,011
$553.0K
Market Conditions
NOI Build-Up for 2,784 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
$69.5K $24.96/SF
− Vacancy
−$3.1K −$1.12/SF
EGI
$66.4K $23.84/SF
− OpEx
−$16.6K −$5.96/SF
NOI
$49.8K $17.88/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$995,420
Cap Rate 7%
$711,014
Cap Rate 9%
$553,011
Alternative Uses
Best Use
Specialty Retail
$711.0K
$622.1K – $829.5K
NOI $49,771 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.01M
$26.26M – $35.01M
NOI $2,100,829 @ 7.0% cap · market cap 334.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 70448, LA
25,670
Population
10,372
Households
2.5
Avg Household Size
41
Median Age
45%
College-Educated
93%
High-School Grad
21.9 sq mi
ZIP Area
1,172
Density / Sq Mi
$88,929
Median Household Income
$50,824
Median Earnings
$1,415
Median Rent
$324,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial land - Corner parcel with redevelopment potential and access from both Florida Street and Marigny Avenue.
Where is this commercial land located?
The property is located at 1851 Florida St Mandeville, LA.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 440 feet of combined frontage: 180 feet on Florida Street and 260 feet on Marigny Avenue; Corner location at Florida Street and Marigny Avenue in Mandeville, LA; Existing restaurant building constructed in 2010 may be renovated
