Opelousas Strip Center For
For Sale
$450,000
1200 Heather Dr, Opelousas, LA 70570
Retail strip center in prime location near shopping and cinema.
Property Size4,500 SF
Price / SF$100
Days on Market807
Property Features for 1200 Heather Dr
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
22
Property subtype
Retail
Zoning
C-2 Large Scale Commercial District
Amenities
Power
Water
Sewer
22 Parking Spaces
Listing Agency:
NAI Rampart Commercial Real Estate Lafayette
Listed By:
John Monteleone CCIM · License #SALE.0000021351-ACT
(337) 278-6444
Source:
Lacdb.resimplifi
Added: Aug 5, 2024
Changed: Oct 5
Last Checked: Oct 19 at 3:23AM
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 NAI Rampart Commercial Real Estate Lafayette
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Investment Insights
Based on property information with market context.
This 4,500 sq ft strip center is located at the corner of Heather Dr. and Jake Dr., adjacent to St. Landry Cinema and across the street from St. Landry Plaza, a 200,000 sq ft shopping center. The building features a brick façade and a freshly coated roof as of June 2024. The property consists of three bays. Suite 1206 is a recently renovated 2,000 sq ft space currently occupied by Nikki Nails. Suite 1202 offers 1,500 sq ft and has been used as a boutique and barber shop. Suite 1200 is a 1,000 sq ft end-cap space that has been recently leased for counseling services. The property is zoned C-2 Large Scale Commercial District, which allows for a wide range of permitted business uses.
Key Highlights
- Excellent location at the corner of Heather Dr. and Jake Dr.
- Adjacent to St. Landry Cinema, the only theater in Opelousas.
- Across the street from St. Landry Plaza, a 200,000 sq ft shopping center with major retailers.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,298
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,960
$626.0K
Cap Rate 7%
$447,114
$447.1K
Cap Rate 9%
$347,756
$347.8K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$48.6K $10.80/SF
− Vacancy
−$3.9K −$0.86/SF
EGI
$44.7K $9.94/SF
− OpEx
−$13.4K −$2.98/SF
NOI
$31.3K $6.96/SF
Area
St. Landry County, LA
Vacancy
8.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,960
Cap Rate 7%
$447,114
Cap Rate 9%
$347,756
Alternative Uses
Best Use
Retail
$447.1K
$391.2K – $521.6K
NOI $31,298 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 70570, LA
38,746
Population
17,099
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
171.8 sq mi
ZIP Area
226
Density / Sq Mi
$45,276
Median Household Income
$33,090
Median Earnings
$764
Median Rent
$151,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center in prime location near shopping and cinema.
Where is this strip mall located?
The property is located at 1200 Heather Dr Opelousas, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Excellent location at the corner of Heather Dr. and Jake Dr.; Adjacent to St. Landry Cinema, the only theater in Opelousas.; Across the street from St. Landry Plaza, a 200,000 sq ft shopping center with major retailers.
