Live-Work Property with
For Sale
$1,200,000
633 VILLAGE LANE N, Mandeville, LA 70471
Commercial, Mandeville, LA
Property Size8,016 SF
Lot Size0.28 Acres
Price / SF$195.38
Days on Market169
Property Features for 633 VILLAGE LANE N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM/RES
Parking features
Garage, Assigned
Subdivision
Beau Rivage
Lot features
Regular
Standard status
Active
APN
57925
Size
6,142 SF
Lot size
0.28 Acres
Utilities
Water source
Public
Amenities
shared waiting area
conference room
kitchenette
tennis court
screened-in balcony
deck
Building Details
Year built
2007
Floors in Building
2
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Bronwyn Land-Planchard · License #995706464
(504) 717-6757
Added: Mar 6
Changed: Aug 21
Last Checked: Aug 22 at 2:06AM
MLS# 2546410
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 CM/RES-zoned live-work property combines professional office space, warehouse improvements, and a private residence. The first floor includes eight office suites, storage or flex space, a shared reception area, conference room, bathrooms, kitchenette, warehouse space, and a garage. The upper level contains a 3-bedroom, 2.5-bath residence with multiple living areas and a screened balcony facing the tennis court and deck.
The property includes a 21-space parking lot, 3-car garage, expansive driveways, and gated parking suitable for an RV or boat. Public water serves the site. Built in 2007, the building has newer HVAC equipment, a 2023 roof, LiftMaster garage doors, and a tankless water heater. Current occupants include professional businesses and an art studio.
The property includes a 21-space parking lot, 3-car garage, expansive driveways, and gated parking suitable for an RV or boat. Public water serves the site. Built in 2007, the building has newer HVAC equipment, a 2023 roof, LiftMaster garage doors, and a tankless water heater. Current occupants include professional businesses and an art studio.
Key Highlights
- CM/RES zoning with integrated office, warehouse, and residential improvements
- Eight first‑floor professional office spaces plus storage or flex space
- 3,360 SF second‑story residence with 3 bedrooms and 2.5 bathrooms
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
$69,695
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
5.81%
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%
$1,393,900
$1.4M
Cap Rate 7%
$995,643
$995.6K
Cap Rate 9%
$774,389
$774.4K
Market Conditions
NOI Build-Up for 6,142 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
$120.1K $19.56/SF
− Vacancy
−$27.2K −$4.43/SF
EGI
$92.9K $15.13/SF
− OpEx
−$23.2K −$3.78/SF
NOI
$69.7K $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%
$1,393,900
Cap Rate 7%
$995,643
Cap Rate 9%
$774,389
Alternative Uses
Best Use
Office B
$995.6K
$871.2K – $1.16M
NOI $69,695 @ 7.0% cap · market cap 5.81%
Second Best
Mixed Use
$908.1K
$794.6K – $1.06M
NOI $63,570 @ 7.0% cap · market cap 5.30%
Theoretical Best
Multifamily LT 5
$66.21M
$57.94M – $77.25M
NOI $4,634,802 @ 7.0% cap · market cap 386.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 70471, LA
23,334
Population
10,341
Households
2.3
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
28.9 sq mi
ZIP Area
807
Density / Sq Mi
$96,510
Median Household Income
$52,523
Median Earnings
$1,282
Median Rent
$370,100
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?
Live-work space - Combined office, warehouse, and residential improvements support an owner-occupant or multi-use commercial configuration.
Where is this live-work space located?
The property is located at 633 VILLAGE LANE N Mandeville, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: CM/RES zoning with integrated office, warehouse, and residential improvements; Eight first‑floor professional office spaces plus storage or flex space; 3,360 SF second‑story residence with 3 bedrooms and 2.5 bathrooms
