Flex Industrial Building with Roll-Up
For Sale
$795,000
269 GENERAL PATTON Avenue, Mandeville, LA 70471
Commercial, Mandeville, LA
Property Size4,900 SF
Lot Size0.62 Acres
Price / SF$162.24
Days on Market93
Property Features for 269 GENERAL PATTON Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I2
Subdivision
Not a Subdivision
Lot features
Oversized
Standard status
Active
APN
138566
Size
4,900 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Description
NORTHSHORE COMMERCIAL PARK LO32
Legal Description
NORTHSHORE COMMERCIAL PARK LO32
Utilities
Water source
Public
Amenities
grease trap
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Gregg Tepper · License #69919
(985) 789-8717
Added: Jun 26
Changed: Aug 19
Last Checked: Sep 26 at 8:06AM
MLS# 2564803
Copyright © 2026 New Orleans Metropolitan 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.
Built in 2024, this 4,900-square-foot flex property combines metal warehouse construction with office and service areas. The 3,900-square-foot warehouse component is arranged as two units: one includes a 2,100-square-foot air-conditioned warehouse, 1,000 square feet of office space, and two ADA bathrooms; the other provides 1,800 square feet of warehouse area and one ADA bathroom. Insulated walls and ceilings, two 12-foot by 12-foot roll-up doors, and on-site parking support a range of industrial operations. One roll-up door is electric, and the property includes a grease trap that may accommodate commercial kitchen use.
The 0.6162-acre site is zoned I2 industrial and served by public water. The property is located on General Patton Avenue in Mandeville, near Highway 59 and the I-12 corridor, with access to I-59, I-55, and I-10. The smaller warehouse unit is currently leased, while the owner-occupant of the larger space can vacate within 45–60 days.
The 0.6162-acre site is zoned I2 industrial and served by public water. The property is located on General Patton Avenue in Mandeville, near Highway 59 and the I-12 corridor, with access to I-59, I-55, and I-10. The smaller warehouse unit is currently leased, while the owner-occupant of the larger space can vacate within 45–60 days.
Key Highlights
- 4,900‑square‑foot flex building completed in 2024
- 3,900‑square‑foot warehouse area divided into two units
- 2,100‑square‑foot air‑conditioned warehouse with 1,000 square feet of office space
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
$55,602
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
6.99%
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%
$1,112,040
$1.1M
Cap Rate 7%
$794,314
$794.3K
Cap Rate 9%
$617,800
$617.8K
Market Conditions
NOI Build-Up for 4,900 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
$95.8K $19.56/SF
− Vacancy
−$21.7K −$4.43/SF
EGI
$74.1K $15.13/SF
− OpEx
−$18.5K −$3.78/SF
NOI
$55.6K $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%
$1,112,040
Cap Rate 7%
$794,314
Cap Rate 9%
$617,800
Alternative Uses
Best Use
Office B
$794.3K
$695.0K – $926.7K
NOI $55,602 @ 7.0% cap · market cap 6.99%
Second Best
Flex RnD
$661.3K
$578.7K – $771.6K
NOI $46,294 @ 7.0% cap · market cap 5.82%
Theoretical Best
Multifamily LT 5
$52.82M
$46.22M – $61.63M
NOI $3,697,579 @ 7.0% cap · market cap 465.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70471, LA
23,334
Population
10,341
Households
2.3
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
28.9 sq mi
ZIP Area
807
Density / Sq Mi
$96,510
Median Household Income
$52,523
Median Earnings
$1,282
Median Rent
$370,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Recently built industrial space combines warehouse capacity, offices, ADA bathrooms, parking, and public water service.
Where is this flex space located?
The property is located at 269 GENERAL PATTON Avenue Mandeville, LA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 4,900‑square‑foot flex building completed in 2024; 3,900‑square‑foot warehouse area divided into two units; 2,100‑square‑foot air‑conditioned warehouse with 1,000 square feet of office space
