Intracoastal Flex
For Sale
$1,300,000
1005 Saadi Street, Houma, LA 70363
Commercial Sale, Houma, LA
Property Size13,615 SF
Lot Size3.50 Acres
Price / SF$95.48
Days on Market604
Property Features for 1005 Saadi Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Exterior features
Stabilized Yard Base
Subdivision
Honduras Plantation
Directions
East Tunnel Blvd, to Beatrice St, to Acadian Dr, left on Saadi St.
Standard status
Active
Size
13,615 SF
Lot size
3.50 Acres
Taxes and HOA fees
Tax Description
Lots 30, 31, 32, 33 & 34 Honduras Plantation Subdivision
Legal Description
Lots 30, 31, 32, 33 & 34 Honduras Plantation Subdivision
Utilities
Utilities
Natural Gas Available
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
warehouse/work area
conference room
bulkhead
stabilized yard
yard space
Building Details
Building materials
Metal Const
Roof type
Metal
Listing Agency:
Good Earth Realty, Inc. · RE/MAX International
(985) 851-3999
Listed By:
Shirin Nail/ Cynthia Pellegrin · License #467517117
(985) 637-2255
Added: Jan 2, 2025
Changed: Aug 24
Last Checked: Aug 29 at 11:06AM
MLS# 2025000177
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 13,615-square-foot flex property combines a recently remodeled main office with warehouse and work areas. The primary building includes seven offices and a sizable former training room that can function as conference space. Ten additional offices are positioned off the warehouse, creating a substantial mix of administrative and operational areas. Improvements include metal construction, a metal roof, central air, electric heat, and a parking lot.
The property occupies 3.5 acres with direct access to the Intracoastal near the Navigational Canal. It has approximately 500 feet along the Intracoastal and Saadi Street, a bulkheaded edge for large vessels, and portions of the yard with a stabilized base. Public water and natural gas availability are also provided. The sale includes 1005, 1001, 1007, 1011, and 1013 Saadi Street in Houma.
The property occupies 3.5 acres with direct access to the Intracoastal near the Navigational Canal. It has approximately 500 feet along the Intracoastal and Saadi Street, a bulkheaded edge for large vessels, and portions of the yard with a stabilized base. Public water and natural gas availability are also provided. The sale includes 1005, 1001, 1007, 1011, and 1013 Saadi Street in Houma.
Key Highlights
- 13,615 square feet of flex space on 3.5 acres
- Approximately 500 feet along the Intracoastal and Saadi Street
- Direct Intracoastal access near the Navigational Canal
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
$106,309
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
8.18%
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%
$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
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
$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 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%
$2,126,180
Cap Rate 7%
$1,518,700
Cap Rate 9%
$1,181,211
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,395 @ 7.0% cap · market cap 16.42%
Second Best
Flex RnD
$1.78M
$1.56M – $2.08M
NOI $124,888 @ 7.0% cap · market cap 9.61%
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.
Property Analytics
Property Profile
Current Use
Lease Details
17
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Remodeled office areas, warehouse capacity, stabilized yard space, and vessel access support varied commercial operations.
Where is this flex space located?
The property is located at 1005 Saadi Street 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: 13,615 square feet of flex space on 3.5 acres; Approximately 500 feet along the Intracoastal and Saadi Street; Direct Intracoastal access near the Navigational Canal
