Office Condo with Granite
For Sale
$185,000
N3-389 Highway 21, Madisonville, LA 70447
Office condo on Highway 21 south of I-12 with no carpet, disability features, and granite counters, with an in-place tenant through 2026.
Property Size925 SF
Price / SF$200
Days on Market52
Property Features for N3-389 Highway 21
General Information
Standard status
Active
Size
925 SF
Additional Details
Highway Access
Yes
Amenities
disability features
granite counters
Building Details
Tenancy
Single
Listing Agency:
REVE, REALTORS
(985) 951-9328
Listed By:
Louise Brady · License #000054041
(985) 951-9328
Source:
Exprealty
Added: Jun 9
Changed: Jul 29
Last Checked: Jul 29 at 12:33PM
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.
Office condo offering no-carpet interior with disability features and granite counters. A tenant is currently in place in the condo, providing income immediately through the end of year 2026.
Situated on Highway 21 just south of I-12, the property is positioned along a major business corridor.
For buyers seeking an office condo in an established highway location, the combination of the existing tenant through end of year 2026 and the interior finishes and accessibility features may support a quick-start occupancy plan.
Situated on Highway 21 just south of I-12, the property is positioned along a major business corridor.
For buyers seeking an office condo in an established highway location, the combination of the existing tenant through end of year 2026 and the interior finishes and accessibility features may support a quick-start occupancy plan.
Key Highlights
- 925 square feet office condo off Highway 21 just south of I‑12
- In‑place tenant generating income through the end of year 2026
- No carpet in the condo interior
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.1k | $19.56 |
| − Vacancy | −$4.1k | −$4.43 |
| EGI | $14.0k | $15.13 |
| − OpEx | −$3.5k | −$3.78 |
| NOI | $10.5k | $11.35 |
925 SF · lease $19.56/SF/yr · vacancy 22.65% · expense 25.00%
Alternative Uses
Best Use
Office B
$149.9K
$131.2K – $174.9K
NOI $10,496 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.97M
$8.73M – $11.63M
NOI $698,012 @ 7.0% cap · market cap 377.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
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 - Office condo on Highway 21 south of I-12 with no carpet, disability features, and granite counters, with an in-place tenant through 2026.
Where is this office units located?
The property is located at N3-389 Highway 21 Madisonville, LA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 925 square feet office condo off Highway 21 just south of I‑12; In‑place tenant generating income through the end of year 2026; No carpet in the condo interior
