Flex Space with Storage
New
For Sale
$219,000
2103 WASHINGTON STREET, Monroe, LA 71201
SINGLE_FAMILY - Monroe, LA
Property Size3,584 SF
Lot Size0.42 Acres
Price / SF$61.10
Days on Market3
Property Features for 2103 WASHINGTON STREET
General Information
Property type
Residential
Property subtype
Office
Zoning description
B-3
Rooms
Office
Security features
Security Lighting, Security System
Interior features
Extra Storage, Private Bathrooms, Showroom, Security System-Wired
Exterior features
Gutters, Landscaping, Lighting/Security
Lot features
Loc. in City Limits
Directions
Head West on Louisville Ave/Hwy 80, Left on Washington St. Property will be on the Right.
Subdivision
111 Central Monroe & Business District
Standard status
Active
APN
71771
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
LOT B RESUB LOT 7-D-1 REDEVELOPMENT AGENCY RESUB
Legal Description
LOT B RESUB LOT 7-D-1 REDEVELOPMENT AGENCY RESUB
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Building materials
Concrete Block
Roof type
Composition
Additional Structures
Storage
Listing Agency:
John Rea Realty
(318) 388-0941
Listed By:
Jennifer Causey · License #LA995693195
(318) 261-0892
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 9:06AM
MLS# 220544
Copyright © 2026 Northeast Louisiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,584+/- SF flex property on 0.42+/- AC includes a 2,880 SF office building and a separate 704 SF storage building. The office component features an open layout, private office, storage room, showroom space, and two restrooms. A composition roof was replaced in 2023, while interior and exterior paint and parking-lot striping have also been updated.
The storage building provides 16' ceilings and a 10' x 14' roll-up door for equipment and material access. Additional property features include central electric heating and cooling, concrete-block construction, gutters, landscaping, wired security, and exterior lighting. The property is located on Washington Street in Monroe, LA 71201.
The storage building provides 16' ceilings and a 10' x 14' roll-up door for equipment and material access. Additional property features include central electric heating and cooling, concrete-block construction, gutters, landscaping, wired security, and exterior lighting. The property is located on Washington Street in Monroe, LA 71201.
Key Highlights
- 3,584+/- SF property on 0.42+/- AC
- 2,880 SF main office building with open layout, private office, storage, showroom, and two restrooms
- Separate 704 SF storage building
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
$18,101
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
8.27%
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%
$362,020
$362.0K
Cap Rate 7%
$258,586
$258.6K
Cap Rate 9%
$201,122
$201.1K
Market Conditions
NOI Build-Up for 3,584 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
$28.0K $7.80/SF
− Vacancy
−$2.1K −$0.59/SF
EGI
$25.9K $7.22/SF
− OpEx
−$7.8K −$2.16/SF
NOI
$18.1K $5.05/SF
Area
Ouachita County, LA
Vacancy
7.50%
Lease Rate
$7.80 /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%
$362,020
Cap Rate 7%
$258,586
Cap Rate 9%
$201,122
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,935 @ 7.0% cap · market cap 49.29%
Second Best
Flex RnD
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 14.09%
Theoretical Best
Multifamily LT 5
$38.60M
$33.78M – $45.04M
NOI $2,702,315 @ 7.0% cap · market cap 1,233.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71201, LA
21,565
Population
10,352
Households
2.1
Avg Household Size
39
Median Age
43%
College-Educated
92%
High-School Grad
14.9 sq mi
ZIP Area
1,447
Density / Sq Mi
$53,538
Median Household Income
$44,262
Median Earnings
$882
Median Rent
$247,100
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?
Flex space - Open office layout includes a private office, storage room, and two restrooms.
Where is this flex space located?
The property is located at 2103 WASHINGTON STREET Monroe, LA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 3,584+/- SF property on 0.42+/- AC; 2,880 SF main office building with open layout, private office, storage, showroom, and two restrooms; Separate 704 SF storage building
