Office Condo with Granite
For Sale
$185,000
Pending
389 HWY 21, Madisonville, LA 70447
Commercial, Madisonville, LA
Property Size925 SF
Days on Market17
Property Features for 389 HWY 21
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking features
Driveway
Subdivision
Arbor Walk
Lot features
Condo
Standard status
Pending
APN
9658
Size
925 SF
Utilities
Water source
Public
Amenities
disability features
granite counters
Building Details
Year built
2008
Floors in Building
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Louise Brady
(985) 951-9328
Added: Oct 4
Changed: Oct 12
Last Checked: Oct 20 at 1:06PM
MLS# 2581066
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.
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Investment Insights
Based on property information with market context.
This 925-square-foot office condominium was built in 2008 and features granite counters, flooring without carpet, and disability features. The property is zoned Comm and has a driveway for parking, with public water service.
The office is on Highway 21 in Madisonville, just south of I-12. A tenant currently occupies the condo through the end of 2026, providing rental income during that period.
The office is on Highway 21 in Madisonville, just south of I-12. A tenant currently occupies the condo through the end of 2026, providing rental income during that period.
Key Highlights
- 925‑square‑foot office condominium
- Tenant in place through the end of 2026
- Granite counters and no carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,496
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,920
$209.9K
Cap Rate 7%
$149,943
$149.9K
Cap Rate 9%
$116,622
$116.6K
Market Conditions
NOI Build-Up for 925 SF
Gross rent
$18.1K $19.56/SF
− Vacancy
−$4.1K −$4.43/SF
EGI
$14.0K $15.13/SF
− OpEx
−$3.5K −$3.78/SF
NOI
$10.5K $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 Rate 5%
$209,920
Cap Rate 7%
$149,943
Cap Rate 9%
$116,622
Alternative Uses
Best Use
Office B
$149.9K
$131.2K – $174.9K
NOI $10,496 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.97M
$8.73M – $11.63M
NOI $698,012 @ 7.0% cap · market cap 377.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A 925-square-foot office unit includes accessibility features and a current tenant through the end of 2026.
Where is this office unit located?
The property is located at 389 HWY 21 Madisonville, LA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 925‑square‑foot office condominium; Tenant in place through the end of 2026; Granite counters and no carpet
