Flex Space with Loading
For Sale
$3,750,000
5366 Hwy 311, Houma, LA 70360
Commercial Sale, Houma, LA
Property Size19,862 SF
Lot Size1.92 Acres
Price / SF$188.80
Days on Market31
Property Features for 5366 Hwy 311
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 6
Parking
60
Parking features
Parking Lot
Security features
Security System
Exterior features
Loading Dock/Well
Accessibility
Accessible Approach with Ramp
Subdivision
Mystic
Directions
From St. Charles St., right onto Highway 311, building on left just past Mystic Blvd.
Standard status
Active
Size
19,862 SF
Lot size
1.92 Acres
Taxes and HOA fees
Tax Description
Westernmost 34' of Lot 5, all of Lots 6, 7 & * Mystic Subdivision
Legal Description
Westernmost 34' of Lot 5, all of Lots 6, 7 & * Mystic Subdivision
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
employee break room
shower facility
card-access security
surveillance cameras
motion-sensor lighting
generator
Building Details
Floors in Building
1
Flooring type
Tile
Building materials
Concrete
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Hank Babin · License #57860
(985) 804-9991
Added: Jul 24
Changed: Aug 19
Last Checked: Aug 23 at 12:06AM
MLS# 2026013599
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 purpose-built flex space is approximately 19,862 square feet on 1.92 acres, constructed in 2009 as a Grainger distribution facility and comprehensively redeveloped in 2019 into a regional banking operations headquarters. The interior supports multiple business functions under one roof, including 18 private offices, an 11-station call center, a large employee training room, two conference rooms, two huddle rooms, expansive collaborative workspace, and an open operations area with approximately 30 cubicle workstations. Additional support space includes three copy rooms, a dedicated mail room, file room, janitorial and wash area, spacious employee break room, six restrooms, and a separate shower facility.
Designed for operational continuity, the facility features Cat6 data cabling throughout, a dedicated IT department with multiple workstations, a separate IT manager’s office, and a climate-controlled server room with equipment racks and supplemental cooling. Security includes card-access, surveillance cameras, motion-sensor lighting, and a fully sprinklered interior. Durable concrete exterior construction and LEED certification are paired with central heating and central air coverage throughout, including warehouse and storage areas. A 350 KW natural gas generator is capable of powering the entire facility.
Located in FEMA Flood Zone X, the building includes a loading dock/well, parking lot, and an accessible approach with ramp. Public water and public sewer are available, with natural gas available for utilities.
Designed for operational continuity, the facility features Cat6 data cabling throughout, a dedicated IT department with multiple workstations, a separate IT manager’s office, and a climate-controlled server room with equipment racks and supplemental cooling. Security includes card-access, surveillance cameras, motion-sensor lighting, and a fully sprinklered interior. Durable concrete exterior construction and LEED certification are paired with central heating and central air coverage throughout, including warehouse and storage areas. A 350 KW natural gas generator is capable of powering the entire facility.
Located in FEMA Flood Zone X, the building includes a loading dock/well, parking lot, and an accessible approach with ramp. Public water and public sewer are available, with natural gas available for utilities.
Key Highlights
- Approximately 19,862 SF on 1.92 acres in FEMA Flood Zone X
- 18 private offices plus an 11‑station call center, training room, and open operations area with approx. 30 cubicles
- Built in 2009 and redeveloped in 2019 as a regional banking operations headquarters
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
$311,307
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
8.30%
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%
$6,226,140
$6.2M
Cap Rate 7%
$4,447,243
$4.4M
Cap Rate 9%
$3,458,967
$3.5M
Market Conditions
NOI Build-Up for 19,862 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
$536.3K $27.00/SF
− Vacancy
−$121.2K −$6.10/SF
EGI
$415.1K $20.90/SF
− OpEx
−$103.8K −$5.22/SF
NOI
$311.3K $15.67/SF
Area
Terrebonne County, LA
Vacancy
22.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$6,226,140
Cap Rate 7%
$4,447,243
Cap Rate 9%
$3,458,967
Alternative Uses
Best Use
Office B
$4.45M
$3.89M – $5.19M
NOI $311,307 @ 7.0% cap · market cap 8.30%
Second Best
Flex RnD
$2.60M
$2.28M – $3.04M
NOI $182,190 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$5.48M
$4.79M – $6.39M
NOI $383,257 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Purpose-built flex space on FEMA Flood Zone X with concrete construction and loading dock/well.
Where is this flex space located?
The property is located at 5366 Hwy 311 Houma, LA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Approximately 19,862 SF on 1.92 acres in FEMA Flood Zone X; 18 private offices plus an 11‑station call center, training room, and open operations area with approx. 30 cubicles; Built in 2009 and redeveloped in 2019 as a regional banking operations headquarters
