Flex Industrial
For Sale
Contact for pricing
68361 Commercial Way S, Mandeville, LA 70471
I-2-zoned commercial condo with office and mezzanine areas supporting adaptable business operations.
Property Size3,250 SF
Price / SF$137
Days on Market216
Property Features for 68361 Commercial Way S
General Information
Standard status
Active
Size
3,250 SF
Class
B
Property subtype
Industrial, Retail
Zoning
I-2
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
2008
Buildings
1
Stories
1
Listing Agency:
CBRE New Orleans
(504) 733-4555
Listed By:
Bryce French · License #LA 0995690959
Source:
Crexi
Added: Jan 28
Changed: Aug 31
Last Checked: Aug 31 at 6:19PM
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 CBRE New Orleans
Investment Insights
Based on property information with market context.
This flex/light industrial condominium in Alamosa Industrial Park provides approximately ±3,250 SF of commercial space, including ±1,200 to ±1,400 SF allocated to office and mezzanine areas. The 2008-built property is zoned I-2 and combines industrial functionality with finished administrative space within a single condominium unit.
The property is in Mandeville, LA, just off State Highway 59 and near Interstate 12. Access to I-12 connects the industrial park with the Northshore and surrounding regional markets. Hotels, restaurants, and other businesses are located in the surrounding industrial corridor, adding nearby services for daily operations.
The property is in Mandeville, LA, just off State Highway 59 and near Interstate 12. Access to I-12 connects the industrial park with the Northshore and surrounding regional markets. Hotels, restaurants, and other businesses are located in the surrounding industrial corridor, adding nearby services for daily operations.
Key Highlights
- Approximately ±3,250 SF of flex/light industrial condominium space
- ±1,200 to ±1,400 SF of office and mezzanine area
- I‑2 zoning
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
$36,879
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
8.28%
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%
$737,580
$737.6K
Cap Rate 7%
$526,843
$526.8K
Cap Rate 9%
$409,767
$409.8K
Market Conditions
NOI Build-Up for 3,250 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
$63.6K $19.56/SF
− Vacancy
−$14.4K −$4.43/SF
EGI
$49.2K $15.13/SF
− OpEx
−$12.3K −$3.78/SF
NOI
$36.9K $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%
$737,580
Cap Rate 7%
$526,843
Cap Rate 9%
$409,767
Alternative Uses
Best Use
Office B
$526.8K
$461.0K – $614.7K
NOI $36,879 @ 7.0% cap · market cap 8.28%
Second Best
Flex RnD
$438.6K
$383.8K – $511.8K
NOI $30,705 @ 7.0% cap · market cap 6.90%
Theoretical Best
Multifamily LT 5
$35.04M
$30.66M – $40.87M
NOI $2,452,476 @ 7.0% cap · market cap 550.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - I-2-zoned commercial condo with office and mezzanine areas supporting adaptable business operations.
Where is this flex space located?
The property is located at 68361 Commercial Way S Mandeville, LA.
What is the asking price?
The asking price for this property is $445,250.
What are key features of this property?
This property features: Approximately ±3,250 SF of flex/light industrial condominium space; ±1,200 to ±1,400 SF of office and mezzanine area; I‑2 zoning
