Stand Alone Office
For Sale
Contact for pricing
2075 3rd Street, Mandeville, LA 70471
Office building with showrooms and potential for multiple tenants.
Property Size2,821 SF
Price / SF$141.79
Days on Market716
Property Features for 2075 3rd Street
General Information
Standard status
Active
Size
2,821 SF
Class
B
Property subtype
Office
Zoning
NC-1
Building Details
Year Built
2001
Listing Agency:
Property One Inc
(985) 807-4120
Listed By:
Matt Taylor · License #LA 0000006690
Source:
Crexi
Added: Aug 23, 2024
Changed: Aug 8
Last Checked: May 12 at 9:54PM
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 Property One Inc
Investment Insights
Based on property information with market context.
This stand-alone office building, previously used as an interior design office, features multiple showrooms on the ground floor and office spaces upstairs, along with a kitchen. The building's layout is suitable for various office configurations, with the possibility of dividing the space for two tenants. There is also a possibility of combining residence and office. The property is located just off Sharp Road, behind Ashbury Drive. The building has a size of 2,821 square feet.
Key Highlights
- Multiple showrooms downstairs and offices upstairs.
- Potential for dividing space for two tenants.
- Located just off Sharp Road behind Ashbury Drive.
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
$32,011
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
8.00%
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%
$640,220
$640.2K
Cap Rate 7%
$457,300
$457.3K
Cap Rate 9%
$355,678
$355.7K
Market Conditions
NOI Build-Up for 2,821 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
$55.2K $19.56/SF
− Vacancy
−$12.5K −$4.43/SF
EGI
$42.7K $15.13/SF
− OpEx
−$10.7K −$3.78/SF
NOI
$32.0K $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%
$640,220
Cap Rate 7%
$457,300
Cap Rate 9%
$355,678
Alternative Uses
Best Use
Office B
$457.3K
$400.1K – $533.5K
NOI $32,011 @ 7.0% cap · market cap 8.00%
Second Best
Retail
$404.1K
$353.6K – $471.5K
NOI $28,288 @ 7.0% cap · market cap 7.07%
Theoretical Best
Multifamily LT 5
$30.41M
$26.61M – $35.48M
NOI $2,128,749 @ 7.0% cap · market cap 532.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 70471, LA
23,334
Population
10,341
Households
2.3
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
28.9 sq mi
ZIP Area
807
Density / Sq Mi
$96,510
Median Household Income
$52,523
Median Earnings
$1,282
Median Rent
$370,100
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 - Office building with showrooms and potential for multiple tenants.
Where is this office building located?
The property is located at 2075 3rd Street Mandeville, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Multiple showrooms downstairs and offices upstairs.; Potential for dividing space for two tenants.; Located just off Sharp Road behind Ashbury Drive.
