Opelousas Strip Center For
For Sale
Contact for pricing
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 Market691
Property Features for 1200 Heather Dr
General Information
Standard status
Active
Size
4,500 SF
Class
B
Total Parking Spaces
22
Property subtype
Retail, Office
Zoning
C-2 Large Scale Commercial District
Occupancy
67%
Lease Type
Gross
Investment Type
Value Add
Building Details
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
NAI Rampart
Listed By:
John Monteleone · License #LA SALE.0000021351-ACT
(337) 278-6444
Source:
Crexi
Added: Oct 15, 2024
Changed: Sep 3
Last Checked: Sep 3 at 11:46AM
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
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 = 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
$31,298
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
6.96%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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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.
