Mixed-Use Property With Live-Work
For Sale
$849,999
2236 /2238 1st St, Slidell, LA 70458
Ground-floor commercial space is paired with residential living above, along with secured outdoor areas and a dedicated workshop.
Property Size5,453 SF
Lot Size0.33 Acres
Price / SF$189.18
Days on Market24
Property Features for 2236 /2238 1st St
General Information
Standard status
Active
Size
5,453 SF
Total Parking Spaces
20
Lot size
0.33 Acres
Amenities
balcony
covered porch
workshop
ornamental iron gates and privacy fencing
Building Details
Year Built
1980
Building Size
5,453 SF
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Todd Pichon · License #995701142
Source:
Fiorellaavenue
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 8:00PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
Located at 2236 /2238 1st St in Slidell’s Olde Towne district, this mixed-use property combines commercial space on the ground level with residential living above. The property contains 5,453 total square feet, including 4,493 square feet of combined commercial space and living area, on a 1/3-acre parcel.
Outdoor features include a 16' x 30' second-story balcony and a matching 16' x 30' covered porch. Parking accommodates up to 20 vehicles, while ornamental iron gates and privacy fencing secure the site. A separate 28' x 20' workshop includes electricity and air conditioning, adding functional space for storage, creative work, or operations. The property is positioned directly on the parade route in Olde Towne Slidell.
Outdoor features include a 16' x 30' second-story balcony and a matching 16' x 30' covered porch. Parking accommodates up to 20 vehicles, while ornamental iron gates and privacy fencing secure the site. A separate 28' x 20' workshop includes electricity and air conditioning, adding functional space for storage, creative work, or operations. The property is positioned directly on the parade route in Olde Towne Slidell.
Key Highlights
- 5,453 total square feet with 4,493 square feet of combined commercial space and living area
- Ground‑level commercial space with residential living above
- 1/3‑acre parcel with parking for up to 20 vehicles
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
$50,983
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
6.00%
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%
$1,019,660
$1.0M
Cap Rate 7%
$728,329
$728.3K
Cap Rate 9%
$566,478
$566.5K
Market Conditions
NOI Build-Up for 4,493 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
$87.9K $19.56/SF
− Vacancy
−$19.9K −$4.43/SF
EGI
$68.0K $15.13/SF
− OpEx
−$17.0K −$3.78/SF
NOI
$51.0K $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%
$1,019,660
Cap Rate 7%
$728,329
Cap Rate 9%
$566,478
Alternative Uses
Best Use
Office B
$728.3K
$637.3K – $849.7K
NOI $50,983 @ 7.0% cap · market cap 6.00%
Second Best
Mixed Use
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 5.47%
Theoretical Best
Multifamily LT 5
$48.44M
$42.38M – $56.51M
NOI $3,390,454 @ 7.0% cap · market cap 398.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 70458, LA
37,798
Population
17,026
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,809
Density / Sq Mi
$69,816
Median Household Income
$44,368
Median Earnings
$1,400
Median Rent
$227,200
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?
Mixed-use property - Ground-floor commercial space is paired with residential living above, along with secured outdoor areas and a dedicated workshop.
Where is this mixed-use property located?
The property is located at 2236 /2238 1st St Slidell, LA.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 5,453 total square feet with 4,493 square feet of combined commercial space and living area; Ground‑level commercial space with residential living above; 1/3‑acre parcel with parking for up to 20 vehicles
