Live-Work Space with Office and
For Sale
$600,000
5551 Hwy 311, Houma, LA 70360
COMMERCIAL - Houma, LA
Property Size3,751 SF
Lot Size1.17 Acres
Price / SF$159.96
Days on Market147
Property Features for 5551 Hwy 311
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Exterior features
Storage
Subdivision
No Area
Standard status
Active
Size
3,751 SF
Lot size
1.17 Acres
Taxes and HOA fees
Tax Description
A LOT 204.80' ON THE NORTH SIDE OF HWY. 311 X 237.65'/251' AND 209.72' ACROSS THE REAR AS SHOWN ON "SURVEY OF A TRACT OF LAND BELONGING TO VALHI, INC. AND LOCATED IN SECTION 101, T17S-R17E." CB 1942/640.
Legal Description
A LOT 204.80' ON THE NORTH SIDE OF HWY. 311 X 237.65'/251' AND 209.72' ACROSS THE REAR AS SHOWN ON "SURVEY OF A TRACT OF LAND BELONGING TO VALHI, INC. AND LOCATED IN SECTION 101, T17S-R17E." CB 1942/640.
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood, Tile
Building materials
Frame
Roof type
Tile
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Jill Falgout · License #52708
(985) 209-5845
Added: Mar 19
Changed: Aug 4
Last Checked: Aug 12 at 8:06AM
MLS# 2026004959
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 live-work mixed-use property includes office space and a warehouse on a 1.17-acre tract. The office area totals 1808 SF and is laid out with 3 offices, a reception/conference area, and a kitchenette. A 1943 SF warehouse is also on site for storage. A mobile home on the premises is set to remain, and its square footage is not included in the stated total square footage.
The property is positioned for visibility along Highway 311 near St. Charles Street. Exterior features include storage, and parking is provided via a parking lot.
For building systems and basic finishes, the structure is framed construction with a tile roof. Interior flooring includes tile and wood, and the space is served by central heating with natural gas and central air. Water and sewer service are provided by public systems.
The property is positioned for visibility along Highway 311 near St. Charles Street. Exterior features include storage, and parking is provided via a parking lot.
For building systems and basic finishes, the structure is framed construction with a tile roof. Interior flooring includes tile and wood, and the space is served by central heating with natural gas and central air. Water and sewer service are provided by public systems.
Key Highlights
- 1.17‑acre mixed‑use live‑work tract
- Office space totals 1808 SF with 3 offices, reception/conference area, and kitchenette
- 1943 SF warehouse on site for 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
$29,289
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
4.88%
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%
$585,780
$585.8K
Cap Rate 7%
$418,414
$418.4K
Cap Rate 9%
$325,433
$325.4K
Market Conditions
NOI Build-Up for 3,751 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
$35.6K $9.48/SF
− Vacancy
−$1.1K −$0.29/SF
EGI
$34.5K $9.19/SF
− OpEx
−$5.2K −$1.38/SF
NOI
$29.3K $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%
$585,780
Cap Rate 7%
$418,414
Cap Rate 9%
$325,433
Alternative Uses
Best Use
Office B
$839.9K
$734.9K – $979.9K
NOI $58,791 @ 7.0% cap · market cap 9.80%
Second Best
Warehouse
$418.4K
$366.1K – $488.2K
NOI $29,289 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.03M
$904.7K – $1.21M
NOI $72,379 @ 7.0% cap · market cap 12.06%
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
874
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use live-work property featuring an office suite and warehouse space, plus a parking lot and public utilities.
Where is this live-work space located?
The property is located at 5551 Hwy 311 Houma, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1.17‑acre mixed‑use live‑work tract; Office space totals 1808 SF with 3 offices, reception/conference area, and kitchenette; 1943 SF warehouse on site for storage
