Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5709 W Park Avenue Houma, LA 70364

    View on Map
    Claim this Listing
    For Sale
    $425,000

    COMMERCIAL - Houma, LA

    Lot size:
    2.38 Acres
    Added:
    Oct 1, 2024
    Days on Market:
    574
    Last Refresh:
    Apr 27 at 7:06 pm

    Property Features for 5709 W Park Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    2.38 Acres

    Taxes and HOA fees

    Tax Description
    Parcel 2 containing 2.38 acres, located in Sect. 9, T16S-R17E

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Hank Babin
    Hank Babin

    Listing agent Hank Babin License #37498

    Listing office KELLER WILLIAMS REALTY BAYOU P 6273 W Park Avenue, Houma, LA

    Listing date Oct 1, 2024

    MLS# 2024018276 Listing URL

    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.

    Overview

    Prime Commercial Land in Houma

    This commercial land is the site of the former Furniture Place building on West Park Avenue, situated in front of the AMC Theaters and near the Southland Mall and Martin Luther King Blvd. retail corridor. The previous building consisted of approximately 22,300 square feet used as a showroom, office, and for shipping and receiving, with an additional 13,200 square feet of storage space in the former 4-screen movie theater area. The building sustained significant roof and A/C damage from Hurricane Ida, and it is unknown if anything is salvageable. The price reflects the land value only. The 2.38-acre hard-lit corner lot on West Park Avenue has a measured traffic count of 19,622 cars per day. Access is available on West Park and Idlewood Drive. The location is ready for a new venture along the high-traffic corridor connecting the Houma-Thibodaux MSA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Houma
    County
    Terrebonne
    State
    Louisiana
    Longitude
    -90.759153
    Latitude
    29.640603

    Nearby Similar for Sale

    • $899,999
      4,422 SF

      Turnkey Medical Office in Houma

      Sophisticated medical office space designed for functionality and comfort.
      181 Corporate Drive, Houma, LA 70360
      View Details
    • $340,000
      5,500 SF

      High Visibility Commercial Opportunity

      Commercial building with high traffic visibility and flexible layout.
      6633 Main St, Houma, LA 70360
      View Details
    • $325,000
      4,556 SF

      Commercial Building in Houma, LA

      Commercial building with climate-controlled area and attached warehouse.
      819 Sunset Ave, Houma, LA 70360
      View Details
    • $475,000
      6,325 SF

      Downtown Waterfront Commercial Building

      6,300 SF commercial building in downtown Houma, waterfront location.
      8061 Main St, Houma, LA 70360
      View Details
    • $750,000
      3,751 SF

      Highway 311 Mixed-Use Commercial Hub

      Mixed-use commercial property with development potential on Highway 311.
      5551 Hwy 311, Houma, LA 70360
      View Details
    • $400,000
      3,150 SF

      Downtown Houma Professional Office Space

      Professional office space in downtown Houma, ideal for various services.
      628 Wood St, Houma, LA 70360
      View Details
    • $450,000
      5,136 SF

      Restaurant/Bar Opportunity in Houma, LA

      Restaurant/Bar in high-traffic area of East Houma.
      1110 Grand Caillou Road, Houma, LA 70363
      View Details
    • $7,200
      11,880 SF

      Houma Industrial Property For Sale

      Industrial property featuring office and warehouse space on 2 acres.
      2103 Coteau Rd, Houma, LA 70364
      View Details
    • $300,000
      26,106 SF

      Versatile Commercial Property in Houma

      Flexible commercial space ideal for office, warehouse, or mixed-use operations.
      415 & 417 Levron Street, Houma, LA 70360
      View Details
    • $189,900
      4,500 SF

      Versatile Commercial Warehouse with Highway Frontage

      Commercial warehouse with highway frontage, suitable for various business opportunities.
      329 New Orleans Boulevard, Houma, LA 70364
      View Details
    • $220,000
      4,000 SF

      High Visibility Commercial Property, Houma

      Commercial property with high visibility and traffic flow in Houma.
      1500 E Tunnel Boulevard, Houma, LA 70363
      View Details
    • $725,000
      4,892 SF

      Medical Office Building For Sale

      Two-story medical office building near Terrebonne General Regional Medical Center.
      210 NEW ORLEANS Boulevard, Houma, LA 70360
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.38-acre commercial land with high traffic and redevelopment potential.
    Where is this commercial land located?
    The property is located at 5709 W Park Avenue Houma, LA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: High‑traffic location on West Park Ave. with 19,622 cars per day; **2.38‑acre hard‑lit corner lot**; Located in front of AMC Theaters and near Southland Mall and Martin Luther King Blvd. retail corridor
    (985) 804-9991
    We can help!
    Listing Contact
    Hank Babin
    Hank Babin
    Real Estate License ID: 37498
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!