Houma Meat Market and
For Sale
$1,450,000
730 Corporate Drive, Houma, LA 70360
5,003 SF meat market/restaurant on 1.059 acres for sale.
Property Size5,448 SF
Lot Size1.06 Acres
Price / SF$266.15
Days on Market547
Property Features for 730 Corporate Drive
General Information
Standard status
Active
Size
5,448 SF
Lot size
1.06 Acres
Property subtype
Commercial/Industrial
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 790-9205
Listed By:
Melanie Rogers Bruce · License #0099563122
(985) 790-9205
Source:
Exitrealty
Added: Feb 11, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:04AM
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 KELLER WILLIAMS REALTY BAYOU P
Investment Insights
Based on property information with market context.
This recently built 5,003 square foot meat market and restaurant is situated on 1.059 acres. Opened in 2018, the building features 1,923 square feet of shop and seating area, 2,017 square feet of kitchen and prep areas, and 445 square feet of office space including a private restroom. Additionally, the property includes a 324 square foot smoke room and 294 square feet of other space. An additional 1,852 square feet of covered outdoor area is available. The property has 28,816 square feet of concrete parking and a drive-thru, with 38 parking spaces. A natural gas generator ensures uninterrupted business operations. The property is located just off Martin Luther King Blvd. in Houma, within the retail corridor serving 4 Parishes and the center of Terrebonne.
Key Highlights
- Recently built (2018) 5,003 SF meat market/restaurant.
- Located on 1.059 acres off Martin Luther King Blvd. in Houma, a retail corridor serving 4 parishes.
- Includes 1,923 SF shop/seating area, 2,017 SF kitchen/prep areas, 445 SF office space, and 324 SF smoke room.
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
$84,286
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
5.81%
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%
$1,685,720
$1.7M
Cap Rate 7%
$1,204,086
$1.2M
Cap Rate 9%
$936,511
$936.5K
Market Conditions
NOI Build-Up for 5,448 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
$117.7K $21.60/SF
− Vacancy
−$5.3K −$0.97/SF
EGI
$112.4K $20.63/SF
− OpEx
−$28.1K −$5.16/SF
NOI
$84.3K $15.47/SF
Area
Terrebonne County, LA
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,685,720
Cap Rate 7%
$1,204,086
Cap Rate 9%
$936,511
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,286 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$749.2K
$655.6K – $874.1K
NOI $52,445 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,125 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Restaurant - 5,003 SF meat market/restaurant on 1.059 acres for sale.
Where is this restaurant located?
The property is located at 730 Corporate Drive Houma, LA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Recently built (2018) 5,003 SF meat market/restaurant.; Located on 1.059 acres off Martin Luther King Blvd. in Houma, a retail corridor serving 4 parishes.; Includes **1,923 SF shop/seating area**, 2,017 SF kitchen/prep areas, 445 SF office space, and 324 SF smoke room.
