Medical Office Building with
For Sale
$995,000
2240 E Gause Boulevard, Slidell, LA 70461
Fresh paint, some new flooring, and updated climate control support professional or medical office use.
Property Size7,683 SF
Price / SF$129.51
Days on Market14
Property Features for 2240 E Gause Boulevard
General Information
Standard status
Active
Size
7,683 SF
Building Details
Year Built
2020
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 416-7747
Listed By:
Patty Bradford · License #54027
Source:
Fiorellaavenue
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 3:02PM
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 455-0100
Investment Insights
Based on property information with market context.
This 7,683-square-foot medical office property was built in 2020 and offers a flexible interior for professional or healthcare operations. Recent work includes fresh paint, some new flooring, and one brand-new climate-control unit with complete interior and exterior components. The layout can support a unified office environment or conversion to multi-tenant executive suites.
Located at 2240 E Gause Boulevard in Slidell, the building is near Ochsner Northshore Hospital. A newly striped parking lot and circle driveway provide on-site vehicle capacity along with space for loading and unloading. The property’s configuration is suited to medical office, corporate office, and independent professional users.
Located at 2240 E Gause Boulevard in Slidell, the building is near Ochsner Northshore Hospital. A newly striped parking lot and circle driveway provide on-site vehicle capacity along with space for loading and unloading. The property’s configuration is suited to medical office, corporate office, and independent professional users.
Key Highlights
- 7,683‑square‑foot medical office property
- Built in 2020
- Fresh paint and some new flooring
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
$87,181
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
8.76%
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%
$1,743,620
$1.7M
Cap Rate 7%
$1,245,443
$1.2M
Cap Rate 9%
$968,678
$968.7K
Market Conditions
NOI Build-Up for 7,683 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
$150.3K $19.56/SF
− Vacancy
−$34.0K −$4.43/SF
EGI
$116.2K $15.13/SF
− OpEx
−$29.1K −$3.78/SF
NOI
$87.2K $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%
$1,743,620
Cap Rate 7%
$1,245,443
Cap Rate 9%
$968,678
Alternative Uses
Best Use
Healthcare Medical
$1.38M
$1.21M – $1.61M
NOI $96,676 @ 7.0% cap · market cap 9.72%
Second Best
Office B
$1.25M
$1.09M – $1.45M
NOI $87,181 @ 7.0% cap · market cap 8.76%
Theoretical Best
Multifamily LT 5
$82.82M
$72.47M – $96.63M
NOI $5,797,653 @ 7.0% cap · market cap 582.68%
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
Under-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pelican Veterinary Hospital — 1935 Gause Blvd E, Slidell, LA 70461
- Blust Wayne E DVM — 2190 Gause Blvd, Slidell, LA 70461
- Dr Nicholas J Milazo — 2190 gause blvd, slidell, la 70461
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fresh paint, some new flooring, and updated climate control support professional or medical office use.
Where is this medical office space located?
The property is located at 2240 E Gause Boulevard Slidell, LA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 7,683‑square‑foot medical office property; Built in 2020; Fresh paint and some new flooring
