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 Market346
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
Listed By:
Lawrence Haik
(985) 788-4993
Source:
Lacdb.resimplifi
Added: Nov 3, 2025
Changed: Oct 8
Last Checked: Oct 14 at 7:34PM
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 / Yr
$49,771
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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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
