Intracoastal Flex Space with
For Sale
$1,300,000
1005 Saadi St, Houma, LA 70363
Remodeled office component with warehouse areas, vessel access, parking, and additional yard space.
Property Size13,615 SF
Price / SF$95.48
Days on Market50
Property Features for 1005 Saadi St
General Information
Standard status
Active
Size
13,615 SF
Additional Details
Road Access
Yes
Listing Agency:
Good Earth Realty, Inc.
Listed By:
Shirin Nail/ Cynthia Pellegrin · License #20592
(985) 851-3999
Source:
Smithsquared
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 30 at 2:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Good Earth Realty, Inc.
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Investment Insights
Based on property information with market context.
This flex-space property combines a recently renovated main office with warehouse and work areas. The primary building contains seven offices and a spacious former training area that can serve as a conference room. Ten additional offices are positioned off the warehouse area, creating a substantial blend of administrative and operational space.
The property has direct access to the Intracoastal near a navigational canal and includes bulkheading designed for large vessels. Approximately 500 FT extends along the Intracoastal and Saadi St. Portions of the yard have been stabilized, with additional open yard space and ample parking. The property package includes 1005, 1001, 1007, 1011, and 1013 Saadi Street.
The property has direct access to the Intracoastal near a navigational canal and includes bulkheading designed for large vessels. Approximately 500 FT extends along the Intracoastal and Saadi St. Portions of the yard have been stabilized, with additional open yard space and ample parking. The property package includes 1005, 1001, 1007, 1011, and 1013 Saadi Street.
Key Highlights
- Approximately 500 FT along the Intracoastal and Saadi St
- Recently remodeled main office with seven offices
- Ten additional offices located off the warehouse area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,309
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,126,180
$2.1M
Cap Rate 7%
$1,518,700
$1.5M
Cap Rate 9%
$1,181,211
$1.2M
Market Conditions
NOI Build-Up for 13,615 SF
Gross rent
$129.1K $9.48/SF
− Vacancy
−$4.0K −$0.29/SF
EGI
$125.1K $9.19/SF
− OpEx
−$18.8K −$1.38/SF
NOI
$106.3K $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 Rate 5%
$2,126,180
Cap Rate 7%
$1,518,700
Cap Rate 9%
$1,181,211
Alternative Uses
Best Use
Flex RnD
$1.78M
$1.56M – $2.08M
NOI $124,888 @ 7.0% cap · market cap 9.61%
Second Best
Warehouse
$1.52M
$1.33M – $1.77M
NOI $106,309 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,715 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Remodeled office component with warehouse areas, vessel access, parking, and additional yard space.
Where is this flex space located?
The property is located at 1005 Saadi St Houma, LA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 500 FT along the Intracoastal and Saadi St; Recently remodeled main office with seven offices; Ten additional offices located off the warehouse area
