Renovated Flex Space with
New
For Sale
$405,000
68446 Tammany Trace Drive 8 9, Mandeville, LA 70471
Office and warehouse condominium with loading access, private offices, and second-floor storage in a professional business park.
Property Size4,006 SF
Price / SF$101.10
Days on Market4
Property Features for 68446 Tammany Trace Drive 8 9
General Information
Standard status
Active
Size
4,006 SF
Building Details
Year Built
2008
Listing Agency:
Prime Real Estate Partners, LLC
Listed By:
Wendy Touchard
(504) 909-7069
Source:
Fiorellaavenue
Added: Sep 8
Last Checked: Sep 9 at 8:42PM
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 Prime Real Estate Partners, LLC
Investment Insights
Based on property information with market context.
This office/warehouse condominium combines approximately 1,380 square feet of finished office space with approximately 2,626 square feet of warehouse area, creating 4,006 square feet overall. The office component includes four private offices, a reception and meeting area, two private bathrooms—one with a shower—and a coffee nook. The warehouse includes second-floor storage and two oversized roll-up doors measuring 12’5” x 15’. The property was built in 2008 and has been completely renovated and freshly painted.
Located in Alamosa Office Industrial Park in Mandeville, the unit includes ample off-street parking and convenient access to major thoroughfares. The configuration is suited to contractors, service businesses, distribution operations, light industrial users, and owner-users requiring both customer-facing office space and functional warehouse capacity.
Located in Alamosa Office Industrial Park in Mandeville, the unit includes ample off-street parking and convenient access to major thoroughfares. The configuration is suited to contractors, service businesses, distribution operations, light industrial users, and owner-users requiring both customer-facing office space and functional warehouse capacity.
Key Highlights
- Approximately 4,006 SF combining office and warehouse areas
- Approximately 1,380 SF of office space with four private offices
- Approximately 2,626 SF of warehouse area with second‑floor storage
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
$29,696
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
7.33%
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%
$593,920
$593.9K
Cap Rate 7%
$424,229
$424.2K
Cap Rate 9%
$329,956
$330.0K
Market Conditions
NOI Build-Up for 4,006 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
$36.1K $9.00/SF
− Vacancy
−$1.1K −$0.28/SF
EGI
$34.9K $8.72/SF
− OpEx
−$5.2K −$1.31/SF
NOI
$29.7K $7.41/SF
Area
St. Tammany County, LA
Vacancy
3.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$593,920
Cap Rate 7%
$424,229
Cap Rate 9%
$329,956
Alternative Uses
Best Use
Flex RnD
$540.7K
$473.1K – $630.8K
NOI $37,848 @ 7.0% cap · market cap 9.35%
Second Best
Warehouse
$424.2K
$371.2K – $494.9K
NOI $29,696 @ 7.0% cap · market cap 7.33%
Theoretical Best
Multifamily LT 5
$43.19M
$37.79M – $50.38M
NOI $3,022,960 @ 7.0% cap · market cap 746.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse condominium with loading access, private offices, and second-floor storage in a professional business park.
Where is this flex space located?
The property is located at 68446 Tammany Trace Drive 8 9 Mandeville, LA.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Approximately 4,006 SF combining office and warehouse areas; Approximately 1,380 SF of office space with four private offices; Approximately 2,626 SF of warehouse area with second‑floor storage
