Office Condo with Granite
389 HWY 21 Madisonville, LA 70447
For Sale
$185,000
Pending
COMMERCIAL - Madisonville, LA
Property Size925 SF
Days on Market48
Property Features for 389 HWY 21
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Comm
- Parking features
- Driveway
- Standard status
- Pending
- APN
- 9658
- Size
- 925 SF
Utilities
- Water source
- Public
Building Details
- Year built
- 2008
- Floors in Building
- 1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Louise Brady · License #000054041
(985) 951-9328
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 26 at 8:06AM
MLS# 2559314
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 for-sale office condo offers a private, easily managed workspace within a commercial setting. The unit includes granite counters and disability features, and it is noted as having no carpet. With zoning listed as Comm, the property is positioned for business use consistent with a commercial office condominium format.
The location is on Highway 21 just south of I-12 in Madisonville, providing direct access to a major regional corridor. Public remarks also indicate the property is suited for businesses looking to be along this travel route.
For investors or owner-operators, the condo is described as currently occupied, with income expected through the end of year 2026. That existing tenancy may be relevant for a buyer looking to take over a unit with an in-place occupant rather than starting from vacancy. The unit’s office buildout details—such as the lack of carpet, granite counters, and disability accommodations—can also matter for tenants evaluating day-to-day functionality and accessibility.
The location is on Highway 21 just south of I-12 in Madisonville, providing direct access to a major regional corridor. Public remarks also indicate the property is suited for businesses looking to be along this travel route.
For investors or owner-operators, the condo is described as currently occupied, with income expected through the end of year 2026. That existing tenancy may be relevant for a buyer looking to take over a unit with an in-place occupant rather than starting from vacancy. The unit’s office buildout details—such as the lack of carpet, granite counters, and disability accommodations—can also matter for tenants evaluating day-to-day functionality and accessibility.
Key Highlights
- Office condo on Highway 21 just south of I‑12
- Tenant in place for current income through end of year 2026
- Year built 2008
Financial Insights For Office B
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 | $18.1k | $19.56 |
| − Vacancy | −$4.1k | −$4.43 |
| EGI | $14.0k | $15.13 |
| − OpEx | −$3.5k | −$3.78 |
| NOI | $10.5k | $11.35 |
925 SF · lease $19.56/SF/yr · vacancy 22.65% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Single office condo with granite counters and disability features, currently leased through end of 2026.
Where is this office units 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: Office condo on Highway 21 just south of I‑12; Tenant in place for current income through end of year 2026; Year built 2008
