Renovated Office
For Sale
$399,000
337 HIGHWAY 21, Madisonville, LA 70447
Commercial, Madisonville, LA
Property Size1,732 SF
Price / SF$230.37
Days on Market111
Property Features for 337 HIGHWAY 21
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Parking features
Assigned
Subdivision
Not a Subdivision
Lot features
Condo
Standard status
Active
APN
10942
Size
1,732 SF
Taxes and HOA fees
Tax Description
MADISON OFFICE CONDO UNIT B (16335.86 SQ FT) CB 883 885 INST NO 1587876 INST NO 1709917
Legal Description
MADISON OFFICE CONDO UNIT B (16335.86 SQ FT) CB 883 885 INST NO 1587876 INST NO 1709917
Utilities
Water source
Public
Building Details
Year built
2020
Floors in Building
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
bryan trevathan
(985) 276-7779
Added: May 6
Changed: Aug 19
Last Checked: Aug 24 at 8:06PM
MLS# 2555288
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.
This second-floor office condominium at 337 Highway 21 provides 1,732 square feet of professional workspace. The layout includes five executive offices plus an additional office with glass-door access to a balcony, along with a conference room, reception area, waiting room, private bathroom, and large kitchen. Recent improvements include new flooring and paint, a roof installed in April 2025, and a comprehensively updated AC system completed in 2022 with new returns in every room, duct work, and an insulated attic entrance.
The property was built in 2020 and is zoned COMM. Assigned parking and public water service are included. Condo fees cover maintenance of the exterior and common areas, as well as pest and termite control and gutter cleaning.
The property was built in 2020 and is zoned COMM. Assigned parking and public water service are included. Condo fees cover maintenance of the exterior and common areas, as well as pest and termite control and gutter cleaning.
Key Highlights
- 1,732 sq. ft. second‑floor office condominium
- Five executive offices plus an additional office with balcony access
- Conference room, reception area, waiting room, private bathroom, and large kitchen
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
$19,653
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
4.93%
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%
$393,060
$393.1K
Cap Rate 7%
$280,757
$280.8K
Cap Rate 9%
$218,367
$218.4K
Market Conditions
NOI Build-Up for 1,732 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
$33.9K $19.56/SF
− Vacancy
−$7.7K −$4.43/SF
EGI
$26.2K $15.13/SF
− OpEx
−$6.6K −$3.78/SF
NOI
$19.7K $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%
$393,060
Cap Rate 7%
$280,757
Cap Rate 9%
$218,367
Alternative Uses
Best Use
Office B
$280.8K
$245.7K – $327.6K
NOI $19,653 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$18.67M
$16.34M – $21.78M
NOI $1,306,981 @ 7.0% cap · market cap 327.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 70447, LA
17,120
Population
6,020
Households
2.8
Avg Household Size
36
Median Age
55%
College-Educated
98%
High-School Grad
31.0 sq mi
ZIP Area
552
Density / Sq Mi
$123,841
Median Household Income
$53,770
Median Earnings
$2,182
Median Rent
$390,600
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?
Office units - Second-floor office condominium with executive offices, conference space, reception, kitchen, and balcony access.
Where is this office units located?
The property is located at 337 HIGHWAY 21 Madisonville, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,732 sq. ft. second‑floor office condominium; Five executive offices plus an additional office with balcony access; Conference room, reception area, waiting room, private bathroom, and large kitchen
