Renovated Executive Office
For Sale
$1,543,000
Pending
506 Water St, Madisonville, LA 70447
Updated office property with executive suites and frontage along the Tchefuncte River.
Property Size5,000 SF
Days on Market197
Property Features for 506 Water St
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Office
Building Details
Year Built
1998
Year Renovated
2022
Buildings
1
Building Size
5,000 SF
Listing Agency:
Property One Inc New Orleans
Listed By:
Camden St. Romain · License #995706888
(985) 590-7134
Source:
Lacdb.resimplifi
Added: Apr 3
Changed: Oct 11
Last Checked: Oct 16 at 5:46AM
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 Property One Inc New Orleans
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Investment Insights
Based on property information with market context.
Located at 506 Water St in Madisonville, Louisiana, this 5,000-square-foot office building provides an executive-style layout suited to multiple business uses. The property was built in 1998 and renovated in 2022, offering a combination of established construction and recent improvements. Its configuration is positioned for an owner-user or an office-focused investor.
The building faces the Tchefuncte River and is situated along Water St, a one-way street. Nearby Madisonville businesses are within walking distance, and parking options are available in the surrounding area. The property’s office format and river-facing setting distinguish it within the local commercial environment.
The building faces the Tchefuncte River and is situated along Water St, a one-way street. Nearby Madisonville businesses are within walking distance, and parking options are available in the surrounding area. The property’s office format and river-facing setting distinguish it within the local commercial environment.
Key Highlights
- 5,000 SF office building renovated in 2022
- Executive office layout designed for multiple business uses
- Frontage on the Tchefuncte River
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,736
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,720
$1.1M
Cap Rate 7%
$810,514
$810.5K
Cap Rate 9%
$630,400
$630.4K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$97.8K $19.56/SF
− Vacancy
−$22.2K −$4.43/SF
EGI
$75.6K $15.13/SF
− OpEx
−$18.9K −$3.78/SF
NOI
$56.7K $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 Rate 5%
$1,134,720
Cap Rate 7%
$810,514
Cap Rate 9%
$630,400
Alternative Uses
Best Use
Office B
$810.5K
$709.2K – $945.6K
NOI $56,736 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$53.90M
$47.16M – $62.88M
NOI $3,773,040 @ 7.0% cap · market cap 244.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
272
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 building - Updated office property with executive suites and frontage along the Tchefuncte River.
Where is this office building located?
The property is located at 506 Water St Madisonville, LA.
What is the asking price?
The asking price for this property is $1,543,000.
What are key features of this property?
This property features: 5,000 SF office building renovated in 2022; Executive office layout designed for multiple business uses; Frontage on the Tchefuncte River
