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    Versatile Industrial Compound in Morgan City Title is generated by Realmo AI

    1038 Lee Rd, Morgan City, LA 70380

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    Claim this Listing
    For Sale
    $599,000

    COMMERCIAL - Morgan City, LA

    Property size:
    20,900 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $28/SF
    Added:
    Jan 19, 2026
    Days on Market:
    134
    Last Refresh:
    Jun 2 at 2:06 am

    Property Features for 1038 Lee Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 2
    Parking features
    Secured, Parking Lot
    Exterior features
    Storage, Roof Sign, Stabilized Yard Base
    Standard status
    Active
    Size
    20,900 SF
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Description
    LOT 8 ENGLEWOOD PARK SUBD BLK A ACQ 40V 259835

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    2
    Flooring type
    Concrete, Wood
    Building materials
    Frame, Metal Const
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Shantelle Abshire

    Listing agent Shantelle Abshire License #0995699245

    Listing office Canal & Main Realty 6712 W Main Street, Thibodaux, LA

    Listing date Jan 19, 2026

    MLS# 2026001116

    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.

    HighLights

    • 1.4‑acre compound‑style industrial property with dual street frontage.
    • Approximately 20,000 SF of total building area including warehouse, shop, office, and support structures.
    • Extensive laydown yard and open storage areas, fully fenced with secured parking.
    • Main facility features a two‑story office component with multiple private offices, conference spaces, and kitchen/break areas.
    • Warehouse includes multiple roll‑up doors with drive‑through access, 3‑phase power, and specialty utility infrastructure.
    • Flexible‑use space on Jackson Road suitable for offices, crew accommodations, or storage, with adjacent open yard.

    Overview

    This compound-style industrial property, located in Morgan City, LA, encompasses approximately 1.4 acres across multiple parcels. It features dual street frontage on Lee Road and Jackson Road, providing excellent access and flexibility for various commercial and industrial applications. The site is fully fenced and includes extensive laydown yard and open storage areas, with the potential to separate parcels. Improvements consist of approximately 20,000 square feet of total building area, including a combination of warehouse, shop, office, and support structures, designed to accommodate service-based, fabrication, logistics, or contractor operations. The main facility at 1038 Lee Road features a two-story office component with multiple private offices, conference and support spaces, kitchen/break areas, and restrooms, integrated with large-scale warehouse and shop space. The warehouse includes multiple roll-up doors, including drive-through access, and is equipped with 3-phase power and specialty utility infrastructure, supporting heavy-duty or industrial use. The Jackson Road improvements provide additional flexible-use space, suitable for offices, crew or bunkroom accommodations, support operations, or storage, along with an adjacent open yard ideal for fleet parking, material laydown, or equipment staging. Covered storage and auxiliary structures further enhance the functionality of the site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Crosby Construction Services, ... General Contractor

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Hotel & Motel Auto Parts Store Auto Repair Shop Food Market Grocery & Convenience Store Discount Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgan City
    County
    St. Mary
    State
    Louisiana
    Longitude
    -91.123076
    Latitude
    29.6623

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    FAQs

    What type of property is this?
    Warehouse - 1.4-acre industrial property with 20,000+ SF of building area.
    Where is this warehouse located?
    The property is located at 1038 Lee Rd Morgan City, LA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: 1.4‑acre compound‑style industrial property with dual street frontage.; Approximately **20,000 SF of total building area** including warehouse, shop, office, and support structures.; Extensive laydown yard and open storage areas, fully fenced with secured parking.
    (985) 852-1137
    We can help!
    Listing Contact
    Shantelle Abshire
    Real Estate License ID: 0995699245
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    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
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