Flex Space with
For Sale
$300,000
1500 Grand Caillou Road, Houma, LA 70363
Commercial Sale, Houma, LA
Property Size3,361 SF
Lot Size1.93 Acres
Price / SF$89.26
Days on Market575
Property Features for 1500 Grand Caillou Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Covered
Directions
At intersection of Grand Caillou Road & Moffet Road.
Subdivision
No Area
Standard status
Active
Size
3,361 SF
Lot size
1.93 Acres
Taxes and HOA fees
Tax Description
A tract containing 1.925 acres having a front of 194.80 on LA Highway 57 (Grand Caillou Road) as shown on plat plan for Cherokee Contractors, Inc. DBA Curt's Inland Marina located in Section 105, T17-S-R17E. CB 1844/643
Legal Description
A tract containing 1.925 acres having a front of 194.80 on LA Highway 57 (Grand Caillou Road) as shown on plat plan for Cherokee Contractors, Inc. DBA Curt's Inland Marina located in Section 105, T17-S-R17E. CB 1844/643
Utilities
Utilities
Natural Gas Available
Sewer type
Private Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Metal Const
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Michelle Parsons · License #37498
(985) 226-3337
Added: Jan 27, 2025
Changed: Aug 19
Last Checked: Aug 25 at 3:06AM
MLS# 2025001771
Copyright © 2026 Bayou Board 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 flex-space property combines a 2,410-square-foot warehouse and office building with a rear 951-square-foot office/apartment area. The main structure includes a kitchen, three roll-up doors, central heating and central air, while the rear area provides a full bathroom and kitchen. An additional 1,495 square feet of covered storage expands the usable footprint. Metal construction and a metal roof serve the improvements, with public water, private sewer, and natural gas availability.
The property encompasses approximately 1.925 acres and offers 194.80 feet of frontage on LA Highway 57, also known as Grand Caillou Road. It sits at the intersection of Grand Caillou and Moffet Road, with parking and space for 18-wheelers to load and unload. The property is offered as-is.
The property encompasses approximately 1.925 acres and offers 194.80 feet of frontage on LA Highway 57, also known as Grand Caillou Road. It sits at the intersection of Grand Caillou and Moffet Road, with parking and space for 18-wheelers to load and unload. The property is offered as-is.
Key Highlights
- 2,410‑square‑foot warehouse and office building
- Rear 951‑square‑foot office/apartment with full bathroom and kitchen
- Additional 1,495 square feet of covered 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
$26,243
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
8.75%
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%
$524,860
$524.9K
Cap Rate 7%
$374,900
$374.9K
Cap Rate 9%
$291,589
$291.6K
Market Conditions
NOI Build-Up for 3,361 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
$31.9K $9.48/SF
− Vacancy
−$988 −$0.29/SF
EGI
$30.9K $9.19/SF
− OpEx
−$4.6K −$1.38/SF
NOI
$26.2K $7.81/SF
Area
Terrebonne County, LA
Vacancy
3.10%
Lease Rate
$9.48 /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%
$524,860
Cap Rate 7%
$374,900
Cap Rate 9%
$291,589
Alternative Uses
Best Use
Office B
$752.6K
$658.5K – $878.0K
NOI $52,679 @ 7.0% cap · market cap 17.56%
Second Best
Flex RnD
$440.4K
$385.4K – $513.8K
NOI $30,830 @ 7.0% cap · market cap 10.28%
Theoretical Best
Office A
$926.5K
$810.7K – $1.08M
NOI $64,854 @ 7.0% cap · market cap 21.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
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 - Warehouse, office, apartment, and covered storage components support varied commercial operations.
Where is this flex space located?
The property is located at 1500 Grand Caillou Road Houma, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,410‑square‑foot warehouse and office building; Rear 951‑square‑foot office/apartment with full bathroom and kitchen; Additional 1,495 square feet of covered storage
