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    Property profile & analytics

    601 Asbury Dr Mandeville, LA 70471

    • Commercial real estate
    • 3,915 SF
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1399540
    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

    • Dabdoub Insurance / Insurance Agency
    • Simone Jr Martin J / Law Firm
    • Rudd Law Firm / Law Firm
    • Falen Chiasson @ Watermark Realty LLC. / Real Estate Agency
    • Content Concierge / (Bike/Boat/Book/etc) Store / Photography Service

    Property Details for 601 Asbury Dr

    Year built
    2008
    Property size
    3,915 SF
    Property type
    Commercial real estate
    APN
    39895
    APU
    39895

    Description

    This well-maintained, single-tenant office space is ideally situated in Mandeville, Louisiana, between two exits on North Causeway Boulevard. The 2-room unit is located on the second floor and offers individual locks for enhanced security. Shared amenities include a bathroom and kitchenette, providing convenience for tenants. Additional features include attic storage for extra space, ceiling fans for climate control, carpeted flooring, and an outdoor dropbox for secure package delivery. Mail is delivered directly to the lobby. The unit benefits from central heating and air conditioning for year-round comfort. The building boasts an art gallery in the lobby, adding a unique and aesthetically pleasing touch to the environment. All common area maintenance, insurance, taxes, water, and trash pickup are included in the lease, eliminating additional expenses for the tenant. The property is located at 601 Asbury Dr, Unit 2C, Mandeville, LA 70471, in St. Tammany Parish. This is a single-suite office within a larger building. The property type is listed as Office and Land, with a commercial subtype.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mandeville
    County
    Saint Tammany
    State
    Louisiana
    Longitude
    -90.0844
    Latitude
    30.3969
    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
    $6,434
    $7,560
    $40,978
    $48,538
    -
    $75,600
    $273,187
    $348,787

    Comparable in this City

    • Value Estimation by Request

      105 Beau Chene Blvd

      Land
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      View Details
    • Value Estimation
      $1,200,000
      17,100 SF

      50 Ww Ct

      COMMERCIAL (GENERAL) • 17,100 SF
      50 Ww Ct, Mandeville, LA 70471-7744
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      1800 Cswy Approach Ste, Unit 108

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      1800 Cswy Approach Ste, Mandeville, LA 70471-2971
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      1800 Cswy Approach Ste, Unit 109

      COMMERCIAL (GENERAL) • 776 SF
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      691 SF

      1800 Cswy Approach Ste, Unit 116

      COMMERCIAL (GENERAL) • 691 SF
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    • Value Estimation by Request
      686 SF

      1800 Cswy Approach Ste, Unit 117

      COMMERCIAL (GENERAL) • 686 SF
      1800 Cswy Approach Ste, Mandeville, LA 70471-2971
      View Details

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    601 Asbury Dr
    Mandeville, LA 70471
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    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
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