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

    914 S Luke Dr, Unit 20 Franklin, LA 70538

    Sponsored
    For Sale
    Contact for pricing

    LAND - Franklin, LA

    Lot size:
    0.46 Acres
    Days on Market:
    46
    Last Refresh:
    Feb 26 at 11:06 am

    Property Features for 914 S Luke Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    2204701219
    Lot size
    0.46 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Timothy McCubbin

    CENTURY 21 Action Realty Inc. (985) 790-1699

    Listing agent Timothy McCubbin License #0000024221

    Listing date Jan 12, 2026

    MLS# 24005487

    Copyright © 2026 Realtor Association of Acadiana. 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

    Residential Lot Near Highway 90

    This residential lot is conveniently located near Highway 90, the New Franklin Foundation Hospital and Wellness center, and historic Franklin. The lot is located in the Chatsworth Place subdivision and has a size of 0.46 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    St. Mary
    State
    Louisiana
    Longitude
    -91.518314
    Latitude
    29.795263

    Nearby Similar for Sale

    • $499,500
      7,290 SF

      Franklin Investment Package: Income Properties

      Rare investment package near historic downtown Franklin, generating $3,920/month.
      207 Cedar St, Franklin, LA 70538
      View Details
    • $67,000
      1,198 SF

      Commercial Property in Franklin, LA

      Commercial property for sale in Franklin, Louisiana, totaling 1,198 SF.
      221 Willow St, Franklin, LA 70538
      View Details
    • $700,000
      25,433 SF

      Industrial Facility Near Highway 90

      Light industrial facility located near U.S. Highway 90.
      1045 Lee Charles St, Franklin, LA 70538
      View Details
    • Contact for pricing
      28,317 SF

      Food Processing Industrial Site

      Industrial site designed for food processing, especially seafood operations.
      803 Willow St, Franklin, LA 70538
      View Details
    • New
      $425,000
      7,126 SF

      Historic Building in Franklin Business District

      Historic commercial building in the heart of Franklin, Louisiana.
      521 Main St, Franklin, LA 70538
      View Details
    • $625,000
      2,380 SF

      Commercial Fishing Dock on 2.8 Acres

      Operating commercial fishing dock with waterfront access in Franklin, LA.
      397 Alice B Rd, Franklin, LA 70538
      View Details
    • $132,500
      3,384 SF

      Historic Franklin Commercial Property For Sale

      Historic property with cafe, living space, and renovation potential.
      607 Main St, Franklin, LA 70538
      View Details
    • $266,500
      6,414 SF

      Historic Franklin Commercial Building

      Versatile 6,400 SF commercial space on Main Street.
      605 Main St, Franklin, LA 70538
      View Details
    • $990,000

      Centerville Manufacturing and Fabrication Facility

      Manufacturing and fabrication facility on 4.5 acres, ideal for industrial use.
      9100 Highway 90 Frontage Rd, Franklin, LA 70538
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot near Hwy 90, hospital, and historic Franklin.
    Where is this residential land & home lot located?
    The property is located at 914 S Luke Dr, Unit 20 Franklin, LA.
    What is the asking price?
    The asking price for this property is $20,000.
    What are key features of this property?
    This property features: - Convenient location near Hwy 90.; - Proximity to New Franklin Foundation Hospital and Wellness.; - Close to Historic Franklin.
    (225) 766-1921
    Request Owner's contact information
    914 S Luke Dr, Unit 20 Franklin, LA 70538
    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.
    914 S Luke Dr, Unit 20
    Franklin, LA 70538
    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
    914 S Luke Dr, Unit 20 Franklin, LA 70538
    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

    We can help!
    Listing Contact
    Timothy McCubbin
    Real Estate License ID: 0000024221
    (225) 766-1921 (985) 790-1699 (985) 868-4663
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!