Flex Building With Warehouse
For Sale
$299,900
3442 Mary Dr, New Roads, LA 70760
C-3-zoned commercial building combines office, retail, service, and industrial-use potential.
Property Size3,600 SF
Price / SF$83.31
Days on Market53
Property Features for 3442 Mary Dr
General Information
Standard status
Active
Size
3,600 SF
Zoning
commercial
Warehouse & Industrial
Warehouse Space
2,400 SF
Office Build-Out
1,200 SF
Drive-In Doors
4
Additional Details
Road Access
Yes
Amenities
garage bays
reception area
restrooms
Building Details
Buildings
1
Building Size
3,600 SF
Construction
metal
Listing Agency:
Pennant Real Estate
(225) 718-0971
Listed By:
Philip Cazayoux · License #0995694542
Source:
Smithsquared
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 30 at 7:35PM
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 Pennant Real Estate
Investment Insights
Based on property information with market context.
Built in 2006, this metal flex building contains 3,600 square feet of usable space arranged with approximately 1,200 square feet of office area and 2,400 square feet of warehouse space. The layout includes a front reception area with a large counter, two restrooms, and four garage bays fitted with roll-up doors for direct warehouse access.
The property is located at 3442 Mary Drive in New Roads, just off Hospital Road. C-3 zoning supports a range of commercial applications, including retail, service, and industrial uses. A floor plan sketch is included with the listing materials to illustrate the interior arrangement.
The property is located at 3442 Mary Drive in New Roads, just off Hospital Road. C-3 zoning supports a range of commercial applications, including retail, service, and industrial uses. A floor plan sketch is included with the listing materials to illustrate the interior arrangement.
Key Highlights
- 3,600 square feet of usable commercial space
- Approximately 1,200 square feet of office area and 2,400 square feet of warehouse space
- Four garage bays with roll‑up doors
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
$24,007
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
8.01%
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%
$480,140
$480.1K
Cap Rate 7%
$342,957
$343.0K
Cap Rate 9%
$266,744
$266.7K
Market Conditions
NOI Build-Up for 3,600 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
$35.0K $9.72/SF
− Vacancy
−$696 −$0.19/SF
EGI
$34.3K $9.53/SF
− OpEx
−$10.3K −$2.86/SF
NOI
$24.0K $6.67/SF
Area
Pointe Coupee County, LA
Vacancy
1.99%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
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%
$480,140
Cap Rate 7%
$342,957
Cap Rate 9%
$266,744
Alternative Uses
Best Use
Office B
$491.9K
$430.4K – $573.9K
NOI $34,433 @ 7.0% cap · market cap 11.48%
Second Best
Warehouse
$416.4K
$364.4K – $485.9K
NOI $29,151 @ 7.0% cap · market cap 9.72%
Theoretical Best
Specialty Retail
$862.2K
$754.4K – $1.01M
NOI $60,352 @ 7.0% cap · market cap 20.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70760, LA
6,509
Population
3,383
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
84%
High-School Grad
49.7 sq mi
ZIP Area
131
Density / Sq Mi
$48,050
Median Household Income
$40,827
Median Earnings
$807
Median Rent
$137,200
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?
Flex space - C-3-zoned commercial building combines office, retail, service, and industrial-use potential.
Where is this flex space located?
The property is located at 3442 Mary Dr New Roads, LA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 3,600 square feet of usable commercial space; Approximately 1,200 square feet of office area and 2,400 square feet of warehouse space; Four garage bays with roll‑up doors
