Multi-Tenant Office
For Sale
$2,300,000
200 Greenleaves Blvd, Mandeville, LA 70448
Multi-tenant office building with monument signage and ample off-street parking.
Property Size18,069 SF
Days on Market169
Property Features for 200 Greenleaves Blvd
General Information
Standard status
Active
Size
18,069 SF
Class
B
Property subtype
Office
Building Details
Building Size
18,069 SF
Listing Agency:
Elifin Realty
Listed By:
Fabian Edwards, JD/DCL
(985) 974-8301
Source:
Elifinrealty
Added: Mar 21
Changed: Aug 26
Last Checked: Sep 5 at 6:04AM
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 Elifin Realty
Investment Insights
Based on property information with market context.
200 Greenleaves Blvd is a multi-tenant office property now available for sale or lease. The building is configured to maximize natural light and features a unique architectural layout. Monument signage is visible from the site, supporting exterior presence.
The property is located in Mandeville, LA near N Causeway Blvd and Hwy 190, with retail and dining amenities nearby. Ample off-street parking is available for tenants and visitors, supporting convenient access for occupants and guests. The property is currently 55% occupied.
The property is located in Mandeville, LA near N Causeway Blvd and Hwy 190, with retail and dining amenities nearby. Ample off-street parking is available for tenants and visitors, supporting convenient access for occupants and guests. The property is currently 55% occupied.
Key Highlights
- Multi‑tenant office property at 200 Greenleaves Blvd in Mandeville, LA
- Currently 55% occupied and available for sale or lease
- Visible monument signage on‑site
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
$205,033
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
8.91%
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%
$4,100,660
$4.1M
Cap Rate 7%
$2,929,043
$2.9M
Cap Rate 9%
$2,278,144
$2.3M
Market Conditions
NOI Build-Up for 18,069 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
$353.4K $19.56/SF
− Vacancy
−$80.1K −$4.43/SF
EGI
$273.4K $15.13/SF
− OpEx
−$68.3K −$3.78/SF
NOI
$205.0K $11.35/SF
Area
St. Tammany County, LA
Vacancy
22.65%
Lease Rate
$19.56 /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%
$4,100,660
Cap Rate 7%
$2,929,043
Cap Rate 9%
$2,278,144
Alternative Uses
Best Use
Office B
$2.93M
$2.56M – $3.42M
NOI $205,033 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$194.79M
$170.44M – $227.25M
NOI $13,635,012 @ 7.0% cap · market cap 592.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with monument signage and ample off-street parking.
Where is this office building located?
The property is located at 200 Greenleaves Blvd Mandeville, LA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Multi‑tenant office property at 200 Greenleaves Blvd in Mandeville, LA; Currently 55% occupied and available for sale or lease; Visible monument signage on‑site
