Listing Agency: Canal & Main Realty

Listed By: Gwendolyn Barrilleaux · License #56838 Show Phone

Source: Smithsquared

Added: Aug 14 Changed: Oct 11 Last Checked: Oct 7 at 4:53PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,269

Cap Rate

6.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$485,380 $485.4K

Cap Rate 7%

$346,700 $346.7K

Cap Rate 9%

$269,656 $269.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,227 SF

Gross rent

$37.9K $11.76/SF

− Vacancy

−$3.3K −$1.02/SF

EGI

$34.7K $10.74/SF

− OpEx

−$10.4K −$3.22/SF

NOI

$24.3K $7.52/SF

Area

Terrebonne County, LA

Vacancy

8.64%

Lease Rate

$11.76 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$485,380

Cap Rate 7%

$346,700

Cap Rate 9%

$269,656

Alternative Uses

Best Use

Multifamily LT 5

$346.7K

$303.4K – $404.5K (±1% cap)

NOI $24,269 @ 7.0% cap · market cap 6.65%

Second Best

Apartment 5plus

$301.5K

$263.8K – $351.7K (±1% cap)

NOI $21,102 @ 7.0% cap · market cap 5.78%

Theoretical Best

Office A

$889.5K

$778.4K – $1.04M (±1% cap)

NOI $62,268 @ 7.0% cap · market cap 17.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Spa & Massage Center Hair Salon Nail Salon Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

54

Businesses Nearby

Explore this area Business Placement

Demographics for 70364, LA

29,559

Population

12,423

Households

2.4

Avg Household Size

37

Median Age

16%

College-Educated

87%

High-School Grad

42.2 sq mi

ZIP Area

700

Density / Sq Mi

$68,909

Median Household Income

$36,164

Median Earnings

$1,004

Median Rent

$195,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

Where is this multifamily property located?

The property is located at 106 Country Estates Dr Houma, LA.

What is the asking price?

The asking price for this property is $365,000.