Renovated Flex Space with Roll-Up
New
For Sale
$405,000
68446 TAMMANY TRACE Drive, Mandeville, LA 70471
Commercial, Mandeville, LA
Property Size4,006 SF
Lot Size0.03 Acres
Price / SF$101.10
Days on Market2
Property Features for 68446 TAMMANY TRACE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC2
Parking features
Off Street
Subdivision
Alamosa Park
Lot features
Condo
Standard status
Active
APN
54543
Size
4,006 SF
Lot size
0.03 Acres
Utilities
Water source
Public
Building Details
Year built
2008
Listing Agency:
Prime Real Estate Partners, LLC · Prudential Real Estate
(504) 400-4969
Listed By:
Wendy Touchard
(504) 909-7069
Added: Sep 4
Last Checked: Sep 5 at 3:06PM
MLS# 2575366
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 4,006-square-foot office and warehouse condominium combines a renovated professional workspace with functional industrial support space. The office component measures approximately 1,380 square feet and includes four private offices, a reception and meeting area, two private bathrooms, one with a shower, and a coffee nook. The approximately 2,626-square-foot warehouse includes second-floor storage and two oversized roll-up doors measuring 12'5" x 15'.
The property provides off-street parking and public water service. Built in 2008, it is located at 68446 Tammany Trace Drive in Mandeville, Louisiana, with access to major thoroughfares. HC2 zoning and the combination of office, warehouse, storage, and loading features support a range of commercial operations.
The property provides off-street parking and public water service. Built in 2008, it is located at 68446 Tammany Trace Drive in Mandeville, Louisiana, with access to major thoroughfares. HC2 zoning and the combination of office, warehouse, storage, and loading features support a range of commercial operations.
Key Highlights
- 4,006‑square‑foot office and warehouse condominium
- Approximately 1,380 square feet of office space with four private offices
- Approximately 2,626‑square‑foot warehouse 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
Office B
$649.4K
$568.2K – $757.6K
NOI $45,457 @ 7.0% cap · market cap 11.22%
Second Best
Flex RnD
$540.7K
$473.1K – $630.8K
NOI $37,848 @ 7.0% cap · market cap 9.35%
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
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
267
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
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated office and warehouse condo with private offices, loading access, and off-street parking.
Where is this flex space located?
The property is located at 68446 TAMMANY TRACE Drive 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: 4,006‑square‑foot office and warehouse condominium; Approximately 1,380 square feet of office space with four private offices; Approximately 2,626‑square‑foot warehouse with second‑floor storage
