Two-Building Drug Store
For Sale
$585,000
2230 Gause Blvd E, Slidell, LA 70461
The 4,387-square-foot property includes a drive-through and office-oriented interior improvements.
Property Size4,387 SF
Price / SF$133.35
Days on Market114
Property Features for 2230 Gause Blvd E
General Information
Standard status
Active
Size
4,387 SF
Property subtype
Retail
Zoning
COMMERCIAL
Amenities
Conference Room
break room
executive offices
file room
reception area
waiting room
Drive-Thru
Vacant
Building Details
Buildings
2
Listing Agency:
ABEK Real Estate
Listed By:
Larry Haik
(985) 788-4993
Source:
Lacdb.resimplifi
Added: May 18
Changed: Sep 8
Last Checked: Sep 7 at 3:46PM
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 4,387-square-foot drug store property comprises two buildings at 2230 Gause Blvd E in Slidell, Louisiana. The front structure previously operated as a pharmacy and includes a drive-through, while the rear building was configured for law firm use. Existing interior areas include a conference room, break room, executive offices, file room, reception area, and waiting room.
The property is positioned along Gause Blvd. East among established restaurants, medical businesses, and other long-term commercial occupants. The site is described as having strong traffic volume, access, and surrounding demographics. Its two-building layout and mix of retail and office-oriented improvements provide a varied existing configuration for continued commercial use.
The property is positioned along Gause Blvd. East among established restaurants, medical businesses, and other long-term commercial occupants. The site is described as having strong traffic volume, access, and surrounding demographics. Its two-building layout and mix of retail and office-oriented improvements provide a varied existing configuration for continued commercial use.
Key Highlights
- Two‑building property totaling 4,387 square feet
- Front building includes a former pharmacy layout and drive‑through
- Rear building was configured for law firm use
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
$49,780
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
8.51%
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%
$995,600
$995.6K
Cap Rate 7%
$711,143
$711.1K
Cap Rate 9%
$553,111
$553.1K
Market Conditions
NOI Build-Up for 4,387 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
$85.8K $19.56/SF
− Vacancy
−$19.4K −$4.43/SF
EGI
$66.4K $15.13/SF
− OpEx
−$16.6K −$3.78/SF
NOI
$49.8K $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%
$995,600
Cap Rate 7%
$711,143
Cap Rate 9%
$553,111
Alternative Uses
Best Use
Specialty Retail
$1.12M
$980.4K – $1.31M
NOI $78,429 @ 7.0% cap · market cap 13.41%
Second Best
Office B
$711.1K
$622.3K – $829.7K
NOI $49,780 @ 7.0% cap · market cap 8.51%
Theoretical Best
Multifamily LT 5
$47.29M
$41.38M – $55.17M
NOI $3,310,465 @ 7.0% cap · market cap 565.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70461, LA
30,740
Population
12,900
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
89%
High-School Grad
53.5 sq mi
ZIP Area
575
Density / Sq Mi
$88,035
Median Household Income
$48,351
Median Earnings
$1,201
Median Rent
$267,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Louisiana Center for Advanced Medicine — 2053 Gause Blvd E Suite 200, Slidell, LA 70461
- The House of Sprays — 59015 Amber St Ste A-2, Slidell, LA 70461
- Princess Lash — 59015 Amber St A4, Slidell, LA 70461
- Aspen Clinic — 2055 Gause Blvd E UNIT 400, Slidell, LA 70461
- CVS Pharmacy — 2103 Gause Blvd E, Slidell, LA 70461, United States
Frequently Asked Questions
What type of property is this?
Drug store - The 4,387-square-foot property includes a drive-through and office-oriented interior improvements.
Where is this drug store located?
The property is located at 2230 Gause Blvd E Slidell, LA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑building property totaling 4,387 square feet; Front building includes a former pharmacy layout and drive‑through; Rear building was configured for law firm use
