Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    510 West Tunnel Blvd Houma, LA 70360

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $149,000

    Mixed-use property featuring offices, warehouse, and parking.

    Property size:
    3,000 SF
    Lot size:
    0.25 Acres

    Property Features for 510 West Tunnel Blvd

    General Information

    Standard status
    Pending
    Size
    3,000 SF
    Lot size
    0.25 Acres

    We can help!

    Listing Contact
    Michelle Parsons
    Michelle Parsons
    Source: Exitrealty

    Listing Agency: KELLER WILLIAMS REALTY BAYOU P Listing Agent: Michelle Parsons

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Corner Lot with Parking Spaces

    This corner lot property includes 29 parking spaces surrounding the main building and warehouse. The building, measuring 50 x 60, features a lobby, reception area, two restrooms, 20 offices, and a warehouse. A security camera system and phone system are included. The metal roof was resealed 3 years ago. Some offices have built-in plywood desks and storage shelves. The warehouse/storage area is located at the rear of the main building and includes a large loading door with upstairs storage. An attic with plywood floors provides additional storage space above the office area. Additionally, there is a plywood storage building that sustained damage from Hurricane Ida. The property is suitable for mixed-use, warehouse, industrial, or office purposes.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Houma
    County
    Terrebonne
    State
    Louisiana
    Longitude
    -90.7296557
    Latitude
    29.5909853

    Nearby Similar for Sale

    • $999,000
      9,472 SF

      Versatile Commercial Building in Houma

      Adaptable commercial building suitable for restaurants, retail, or entertainment.
      7726 Main St, Houma, LA 70360
      View Details
    • $369,000
      2,329 SF

      High-Visibility Commercial Property in Houma

      Income-producing commercial property with dual access and expansion potential.
      186 Enterprise Dr, Houma, LA 70360
      View Details
    • $999,999
      12,557 SF

      Waterfront Commercial Building in Houma

      Well-kept commercial building with waterfront access and many amenities.
      1711 Dunn St, Houma, LA 70360
      View Details
    • New
      $475,000
      6,325 SF

      Downtown Waterfront Commercial Building

      6,300 SF commercial building in downtown Houma, waterfront location.
      8061 Main St, Houma, LA 70360
      View Details
    • $400,000
      3,150 SF

      Downtown Houma Professional Office Space

      Professional office space in downtown Houma, ideal for various services.
      628 Wood St, Houma, LA 70360
      View Details
    • $295,000
      4,260 SF

      Versatile Commercial Property in Houma

      Remodeled commercial property with mixed-use potential and flexible financing.
      6688 W Main St, Houma, LA 70360
      View Details
    • $224,000
      2,700 SF

      Versatile Commercial Building in Houma

      Centrally located commercial building in Houma, suitable for various businesses.
      195 Enterprise Dr, Houma, LA 70360
      View Details
    • $355,000
      3,374 SF

      Houma Medical District Build-to-Suit

      Former medical office in Houma's Downtown Medical Corridor.
      1023 Wood St, Houma, LA 70360
      View Details
    • $189,900
      4,500 SF

      Versatile Commercial Warehouse with Highway Frontage

      Commercial warehouse with highway frontage, suitable for various business opportunities.
      329 New Orleans Blvd, Houma, LA 70364
      View Details
    • $285,000
      2,302 SF

      Restored Commercial Building in Houma

      Turnkey commercial building in high-traffic downtown corridor, ideal for various uses.
      316 Lafayette St, Houma, LA 70360
      View Details
    • $245,000
      Pending

      Houma Commercial Building For Sale

      Versatile commercial building suitable for office, daycare, salon, or retail.
      6259 W Main St, Houma, LA 70360
      View Details
    • $250,000
      3,929 SF

      Spacious Office Building in Houma

      Corner lot office building with renovation potential near Downtown Houma.
      7552 Main St, Houma, LA 70360
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property featuring offices, warehouse, and parking.
    Where is this mixed-use property located?
    The property is located at 510 West Tunnel Blvd Houma, LA.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: - Corner lot with 29 parking spaces.; - Main building (50 x 60) featuring a lobby, reception, 2 restrooms, 20 offices, and warehouse.; - Warehouse with large loading door and upstairs storage.
    (985) 226-3337
    Request Owner's contact information
    510 West Tunnel Blvd Houma, LA 70360
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    510 West Tunnel Blvd
    Houma, LA 70360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    510 West Tunnel Blvd Houma, LA 70360
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelle Parsons
    Michelle Parsons
    Real Estate License ID: 18238
    (985) 226-3337 (985) 876-0169 (985) 262-4400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!