Corner Flex
For Sale
$600,000
1903 Florida St, Mandeville, LA 70448
Metal commercial property combining retail presentation with warehouse functionality and HC2 zoning.
Property Size3,750 SF
Price / SF$160
Days on Market21
Property Features for 1903 Florida St
General Information
Standard status
Active
Size
3,750 SF
Zoning
HC2
Additional Details
Corner Location
Yes
Building Details
Year Built
1977
Buildings
1
Building Size
3,750 SF
Construction
metal
Listing Agency:
ERA Top Agent Realty
(985) 710-9797
Listed By:
Wanda Rogers · License #000013117
Source:
Fiorellaavenue
Added: Aug 9
Changed: Aug 27
Last Checked: Aug 28 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 ERA Top Agent Realty
Investment Insights
Based on property information with market context.
This flex property is a 3,750-square-foot metal building configured for both retail and warehouse use. Built in 1977, the facility includes open commercial space supported by ample parking and green space, providing a practical combination of customer-facing and back-of-house areas.
The property occupies a corner near the intersection of Hwy 59, also identified as Girod Street, and Hwy 190, also identified as Florida Street, in Mandeville. HC2 zoning and the mixed retail-warehouse layout support a range of commercial operating formats within the existing structure.
The property occupies a corner near the intersection of Hwy 59, also identified as Girod Street, and Hwy 190, also identified as Florida Street, in Mandeville. HC2 zoning and the mixed retail-warehouse layout support a range of commercial operating formats within the existing structure.
Key Highlights
- 3,750‑square‑foot metal flex building
- Retail and warehouse configuration
- HC2 zoning
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
$37,603
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
6.27%
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%
$752,060
$752.1K
Cap Rate 7%
$537,186
$537.2K
Cap Rate 9%
$417,811
$417.8K
Market Conditions
NOI Build-Up for 3,750 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
$56.3K $15.00/SF
− Vacancy
−$2.5K −$0.68/SF
EGI
$53.7K $14.33/SF
− OpEx
−$16.1K −$4.30/SF
NOI
$37.6K $10.03/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$15.00 /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%
$752,060
Cap Rate 7%
$537,186
Cap Rate 9%
$417,811
Alternative Uses
Best Use
Retail
$537.2K
$470.0K – $626.7K
NOI $37,603 @ 7.0% cap · market cap 6.27%
Second Best
Flex RnD
$506.1K
$442.9K – $590.5K
NOI $35,429 @ 7.0% cap · market cap 5.90%
Theoretical Best
Multifamily LT 5
$40.43M
$35.37M – $47.16M
NOI $2,829,780 @ 7.0% cap · market cap 471.63%
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
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pathway Gourmet Catering — 544 Girod St, Mandeville, LA 70448
- Creole tomateaux — 2022 Orleans St, Mandeville, LA 70448
- Louisiana Commissary Kitchens — 1680 LA-59, Mandeville, LA 70448
Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial property combining retail presentation with warehouse functionality and HC2 zoning.
Where is this flex space located?
The property is located at 1903 Florida St Mandeville, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,750‑square‑foot metal flex building; Retail and warehouse configuration; HC2 zoning
