Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2603 Florida St Mandeville, LA 70448

    • Commercial real estate
    • 21,600 SF
    OFF-MARKET
    Value Estimations
    $1,745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1467136
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2603 Florida St

    Year built
    2008
    Property size
    21,600 SF
    Property type
    Commercial real estate
    APN
    56640
    APU
    56640

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,807,000
      Market price range: $1.32M - $3.29M
      AI Estimate
      $1,200,000
      Market price range: $842k - $2.32M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,325,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,080,000
      Change: -10% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mandeville
    County
    Saint Tammany
    State
    Louisiana
    Longitude
    -90.072
    Latitude
    30.3694
    CBSA code
    35380
    CBSA name
    NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $29,778
    $53,997
    $158,760
    $212,757
    -
    $539,970
    $1,058,400
    $1,598,370

    Comparable in this City

    • Value Estimation by Request
      4.80 Acres

      Approach Causeway Blvd

      Land • 4.80 Acres
      Approach Causeway Blvd, Mandeville, LA 70448
      View Details
    • Value Estimation by Request
      13.30 Acres

      2100 La-59

      Land • 13.30 Acres
      2100 La-59, Mandeville, LA 70448
      View Details
    • Value Estimation by Request
      2,964 SF

      435 Girod St Ste B

      COMMERCIAL (GENERAL) • 2,964 SF
      435 Girod St Ste B, Mandeville, LA 70448-5851
      View Details
    • Value Estimation by Request
      10,450 SF

      1033 Hwy 59

      COMMERCIAL (GENERAL) • 10,450 SF
      1033 Hwy 59, Mandeville, LA 70448-3719
      View Details
    • Value Estimation
      $830,000
      8,718 SF

      1853 Lotus Rd

      COMMERCIAL (GENERAL) • 8,718 SF
      1853 Lotus Rd, Mandeville, LA 70448
      View Details
    • Value Estimation
      $505,000
      5,850 SF

      2000 Florida St

      COMMERCIAL (GENERAL) • 5,850 SF
      2000 Florida St, Mandeville, LA 70448-5234
      View Details

    Similar Nearby for Sale

    • $1,900,000
      4.80 Acres

      Mandeville Commercial Land - 4.8 Acres

      Prime Mandeville location, B-2 zoning, high visibility.
      Approach Causeway Blvd, Mandeville, LA 70448
      View Details
    • $774,000
      2,200 SF

      Mandeville Commercial Land - High Traffic

      High-traffic corner lot, restaurant building.
      1851 Florida Hwy 190 St, Mandeville, LA 70448
      View Details
    • $1,740,000
      13.30 Acres

      Glendale Heights Business Park

      13.3-acre Commercial Land, Mandeville, LA
      2100 La-59, Mandeville, LA 70448
      View Details
    • $100,000
      1.75 Acres

      Elm Street

      Land • 1.75 Acres
      0 Elm St, Mandeville, LA 70448
      View Details
    • $1,890,000
      5,456 SF

      Versatile Property Near Lake Pontchartrain

      Bed & Breakfast or private residence near Mandeville lakefront.
      124 Lafitte St St, Mandeville, LA 70448
      View Details
    • $407,365
      1.50 Acres

      Vacant Land in Mandeville, LA

      Vacant land with water and sewer connections in Old Mandeville.
      8-B Highway 190, Mandeville, LA 70448
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,400 SF

      Mandeville Restaurant Space For Lease

      Highly visible 2,400-SF restaurant space in affluent Mandeville neighborhood.
      2186 Florida St, Mandeville, LA 70448
      View Details
    • Contact for pricing
      1,348 SF

      Retail Centers at Highway 190

      Two adjacent retail centers with high visibility and easy access.
      1705 Highway 190 N, Mandeville, LA 70448
      View Details
    • $450 /Mo

      Office Suite in Law Firm

      Single office suite available in Old Mandeville law firm.
      800 Ramon St, Mandeville, LA 70448
      View Details
    • $12 SF/Yr
      25,490 SF

      Mandeville Office/Retail Outparcel

      Prime Mandeville location, 25,490 sq ft.
      3461 Causeway Approach, Mandeville, LA 70448
      View Details
    • $2,100 /Mo
      1,590 SF

      Office/Retail Space in Mandeville, LA

      Office and retail space available for lease in Mandeville, LA.
      800 Mariners Plaza Dr, Mandeville, LA 70448
      View Details
    • $900 /Mo
      738 SF

      Office and Retail Space Available

      First-floor suite with ground-level access in Mandeville, Louisiana.
      200 Mariners Plaza Dr, Mandeville, LA 70448
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2603 Florida St
    Mandeville, LA 70448
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.