Renovated Second-Floor Office
For Sale
$399,000
B-337 Highway 21, Madisonville, LA 70447
Second-floor office condo with five executive offices, conference room, reception, balcony, and updated HVAC and roof.
Property Size1,732 SF
Price / SF$230.37
Days on Market96
Property Features for B-337 Highway 21
General Information
Standard status
Active
Size
1,732 SF
Listing Agency:
REVE, REALTORS
(985) 276-7779
Listed By:
Bryan Trevathan
(985) 276-7779
Source:
Exprealty
Added: May 6
Changed: Jul 10
Last Checked: Aug 8 at 10:05AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This beautifully renovated second-floor office condo offers approximately 1,732 square feet of well-defined professional space. The layout includes five executive offices, a conference room, a reception area, a waiting room, and a private bathroom, along with a large kitchen. An additional office opens onto a balcony through glass doors, adding outdoor connection without interrupting the interior workflow. Recent improvements include new floors and paint, with a new roof installed in April 2025. The AC system was updated in 2022 with new returns in every room, duct work, and an insulated attic entrance.
Located at B-337 Highway 21 in Madisonville, Louisiana, the office is set up for day-to-day client and staff use, with dedicated common components managed under condo ownership. Condo fees are described as covering exterior and common area maintenance, including services such as pest and termite control and gutter cleaning.
For buyers or owner-users seeking a move-in-ready office environment, the configuration supports an executive office format with space for meetings and client intake. With multiple offices, a reception and waiting room, and in-unit amenities like the kitchen and private bath, the condo can serve as a practical headquarters for professional teams looking to keep their operations consolidated in a renovated, updated facility.
Located at B-337 Highway 21 in Madisonville, Louisiana, the office is set up for day-to-day client and staff use, with dedicated common components managed under condo ownership. Condo fees are described as covering exterior and common area maintenance, including services such as pest and termite control and gutter cleaning.
For buyers or owner-users seeking a move-in-ready office environment, the configuration supports an executive office format with space for meetings and client intake. With multiple offices, a reception and waiting room, and in-unit amenities like the kitchen and private bath, the condo can serve as a practical headquarters for professional teams looking to keep their operations consolidated in a renovated, updated facility.
Key Highlights
- 1,732 SF second‑floor office condo with five executive offices and abundant natural light
- Office includes conference room, reception area, waiting room, private bathroom, and large kitchen
- Additional office opens to a balcony through glass doors
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
$19,653
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
4.93%
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%
$393,060
$393.1K
Cap Rate 7%
$280,757
$280.8K
Cap Rate 9%
$218,367
$218.4K
Market Conditions
NOI Build-Up for 1,732 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
$33.9K $19.56/SF
− Vacancy
−$7.7K −$4.43/SF
EGI
$26.2K $15.13/SF
− OpEx
−$6.6K −$3.78/SF
NOI
$19.7K $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%
$393,060
Cap Rate 7%
$280,757
Cap Rate 9%
$218,367
Alternative Uses
Best Use
Office B
$280.8K
$245.7K – $327.6K
NOI $19,653 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$18.67M
$16.34M – $21.78M
NOI $1,306,981 @ 7.0% cap · market cap 327.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 70447, LA
17,120
Population
6,020
Households
2.8
Avg Household Size
36
Median Age
55%
College-Educated
98%
High-School Grad
31.0 sq mi
ZIP Area
552
Density / Sq Mi
$123,841
Median Household Income
$53,770
Median Earnings
$2,182
Median Rent
$390,600
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?
Office units - Second-floor office condo with five executive offices, conference room, reception, balcony, and updated HVAC and roof.
Where is this office units located?
The property is located at B-337 Highway 21 Madisonville, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,732 SF second‑floor office condo with five executive offices and abundant natural light; Office includes conference room, reception area, waiting room, private bathroom, and large kitchen; Additional office opens to a balcony through glass doors
