Multi-Unit Medical Office
2245 11th Street Mandeville, LA 70471
2245 11th Street, Mandeville, LA, 70471
$650,000
For Sale
$650,000
Well-maintained commercial building features three office units, with Units A and B combined or convertible back, plus updated A/C systems.
Property Size3,787 SF
Price / SF$171.64
Days on Market155
Property Features for 2245 11th Street
General Information
- Standard status
- Active
- Size
- 3,787 SF
- Property subtype
- Other
Building Details
- Year Built
- 1995
Listing agency
LATTER & BLUM (LATT15)
(985) 626-5695
Listed by
Nichole Anderson
(985) 626-5695
Source
Compass
Added: Feb 16 Updated: Jul 21 at 3:02AM Checked: Jul 21 at 3:02AM
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 LATTER & BLUM (LATT15)
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers three spacious office units, each currently described as 1,262 square feet. Units A and B have been combined into one larger space, with the flexibility to convert back into separate units if needed. Units A and B were renovated in 2016, and the A/C system for Unit A was replaced in 2022 and for Unit B in 2024. Unit C was previously utilized as an orthodontist office.
The property includes video surveillance both inside and out, along with an alarm system. Exterior improvements include a recent repaint, and the parking lot has been restriped to support customer convenience and curb appeal.
Overall, the layout supports multiple configurations depending on how the combined units are used, making it suitable for buyers looking for an owner-user or investor structure within a multi-unit office setting.
The property includes video surveillance both inside and out, along with an alarm system. Exterior improvements include a recent repaint, and the parking lot has been restriped to support customer convenience and curb appeal.
Overall, the layout supports multiple configurations depending on how the combined units are used, making it suitable for buyers looking for an owner-user or investor structure within a multi-unit office setting.
Key Highlights
- Well‑maintained commercial building built in 1995 with three office units, each 1,262 SF
- Units A and B are currently combined into one larger space but can be easily converted back into separate units
- Renovations in 2016 for Units A and B
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.2k | $21.96 |
| − Vacancy | −$3.7k | −$0.99 |
| EGI | $79.4k | $20.97 |
| − OpEx | −$31.8k | −$8.39 |
| NOI | $47.7k | $12.58 |
3,787 SF · lease $21.96/SF/yr · vacancy 4.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$680.7K
$595.7K – $794.2K
NOI $47,652 @ 7.0% cap · market cap 7.33%
Second Best
Office B
$613.9K
$537.2K – $716.2K
NOI $42,972 @ 7.0% cap · market cap 6.61%
Theoretical Best
Multifamily LT 5
$40.82M
$35.72M – $47.63M
NOI $2,857,701 @ 7.0% cap · market cap 439.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Network Logic
IT Consulting Firm
Grob Jr Roy ...
Dental Office
Crest Custom Draperies
(Bike/Boat/Book/etc) Store
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FAQs
What type of property is this?
Office units - Well-maintained commercial building features three office units, with Units A and B combined or convertible back, plus updated A/C systems.
Where is this office units located?
The property is located at 2245 11th Street Mandeville, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Well‑maintained commercial building built in 1995 with three office units, each 1,262 SF; Units A and B are currently combined into one larger space but can be easily converted back into separate units; Renovations in 2016 for Units A and B
