Mixed-Use Office and
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 Market200
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
conference room
kitchenette
tennis court
screened-in balcony
shared waiting area
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: Sep 21
Last Checked: Sep 22 at 7:06PM
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 mixed-use property combines commercial workspace with an upper-level residence in Mandeville. The ground floor contains eight professional office suites, storage or flex space, a warehouse currently used as an art studio, shared waiting and conference areas, bathrooms, and a kitchenette. The second-floor residence offers three bedrooms, two and a half bathrooms, several living areas, and a screened balcony facing the tennis court and deck.
Site improvements include a 21-space parking lot, three-car garage, expansive driveways, and a gated area sized for an RV or boat. The building was constructed in 2007 and has been renovated and maintained, with newer HVAC equipment, a 2023 roof, LiftMaster garage doors, and a tankless water heater. Public water serves the property, which is zoned CM/RES.
Site improvements include a 21-space parking lot, three-car garage, expansive driveways, and a gated area sized for an RV or boat. The building was constructed in 2007 and has been renovated and maintained, with newer HVAC equipment, a 2023 roof, LiftMaster garage doors, and a tankless water heater. Public water serves the property, which is zoned CM/RES.
Key Highlights
- Eight professional office spaces plus storage or flex area
- Warehouse currently leased as an art studio
- 3BR/2.5BA second‑story residence with screened balcony
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
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Open Analytics
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property carries CM/RES zoning and includes professional offices, warehouse space, and a private residence.
Where is this mixed-use property 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: Eight professional office spaces plus storage or flex area; Warehouse currently leased as an art studio; 3BR/2.5BA second‑story residence with screened balcony
