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    405 W 3Rd St Thibodaux, LA 70301

    Sponsored
    For Sale
    $1,450,000

    COMMERCIAL - Thibodaux, LA

    Property size:
    9,293 SF
    Lot size:
    0.40 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 20 at 1:06 pm

    Property Features for 405 W 3Rd St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    Parking features
    On Street
    Accessibility
    Accessible Approach with Ramp
    Size
    9,293 SF
    Lot size
    0.40 Acres

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    3
    Flooring type
    Wood
    Building materials
    Brick, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Holly Guidry
    Holly Guidry

    Bayou Partners Investments, LLC (985) 262-4400 [email protected]

    Listing agent Hank Babin (985) 872-4597

    Listing date Jan 2, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Landmark in Thibodaux, LA

    Located in the heart of Thibodaux, the Caillouet Land Building offers a blend of Louisiana history and modern elegance. This iconic commercial property, originally built in 1900 and meticulously restored in 2016, features 9,293 square feet of renovated office and retail space. The building is on the National Register of Historic Places since 1986 and is situated in Thibodaux's vibrant Historic District. It has high visibility with frontage on W. 3rd Street and is located in the core of Thibodaux's walkable downtown, steps away from restaurants, banks, civic buildings, and cultural institutions. The area is experiencing a resurgence driven by small business growth, tourism, and downtown revitalization efforts. The building features upgraded systems including electrical, HVAC, lighting, roof, and interiors. The interior includes private offices, conference rooms, a reception area, and open workspaces. Original interior architectural features such as hardwood floors, exposed brick, and wood beam accents have been preserved. The property, situated on a 0.3974-acre lot, is ideal for office, boutique retail, gallery, or professional services. There is also the potential to subdivide for multi-tenant investment use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Caillouet Law Office Attorney Estate Planning Law ... Estate Planning Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thibodaux
    County
    Lafourche
    State
    Louisiana
    Longitude
    -90.82021744
    Latitude
    29.79734166

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    FAQs

    What type of property is this?
    Office building - Iconic, renovated 9,293 SF commercial property in Thibodaux's Historic District.
    Where is this office building located?
    The property is located at 405 W 3Rd St Thibodaux, LA.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: - Iconic, beautifully restored historic building (circa 1900, restored 2016) on the National Register of Historic Places.; - Prime location in Thibodaux's Historic District with high visibility and frontage on W. 3rd Street.; - 9,293 SF of renovated office/retail space suitable for owner-occupancy or multi-tenant investment.
    (985) 262-4400
    Request Owner's contact information
    405 W 3Rd St Thibodaux, LA 70301
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    Thibodaux, LA 70301
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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
    405 W 3Rd St Thibodaux, LA 70301
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    We can help!
    Listing Contact
    Holly Guidry
    Holly Guidry
    Real Estate License ID: 37498
    (985) 262-4400
    Learn more
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