Houma Shopping Center For
For Sale
$1,395,000
6062 W Park Ave, Houma, LA 70364
Shopping center with established restaurant and value-add potential.
Property Size10,600 SF
Price / SF$131.60
Days on Market1115
Property Features for 6062 W Park Ave
General Information
Standard status
Active
Size
10,600 SF
Total Parking Spaces
20
Property subtype
Retail
Amenities
Water
Sewer
20 Parking Spaces
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
Listed By:
Betty Sun
(985) 709-7228
Source:
Lacdb.resimplifi
Added: Oct 11, 2023
Changed: Oct 25
Last Checked: Oct 28 at 4:54AM
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 New Orleans
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Investment Insights
Based on property information with market context.
This property features a shopping center with income-generating tenants. It includes an Asian restaurant that has been established for over 30 years, located near Southland Mall in Houma. The restaurant has approximately 3,200 square feet, including a large kitchen and a private banquet facility. The dining room seats approximately 75 people, and the private banquet facility seats approximately 50. In addition to the restaurant, there are three vacant units of approximately 1,000 square feet each, two larger vacant units of approximately 1,800 to 2,000 square feet each, and a smaller unit with approximately 800 square feet. These vacant units present a value-add opportunity to generate additional income. The total property size is 10,600 square feet. The properties are being offered as a Sale and Leaseback or Business only (Hong Kong Restaurant).
Key Highlights
- Established income‑generating tenants, including a 30+ year Asian restaurant
- High‑traffic location near Southland Mall in Houma
- Value‑add opportunity with multiple vacant units for lease (approx. 6,600 SF total)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,040
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,040,800
$2.0M
Cap Rate 7%
$1,457,714
$1.5M
Cap Rate 9%
$1,133,778
$1.1M
Market Conditions
NOI Build-Up for 10,600 SF
Gross rent
$152.6K $14.40/SF
− Vacancy
−$6.9K −$0.65/SF
EGI
$145.8K $13.75/SF
− OpEx
−$43.7K −$4.13/SF
NOI
$102.0K $9.63/SF
Area
Terrebonne County, LA
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,040,800
Cap Rate 7%
$1,457,714
Cap Rate 9%
$1,133,778
Alternative Uses
Best Use
Specialty Retail
$2.34M
$2.05M – $2.73M
NOI $163,993 @ 7.0% cap · market cap 11.76%
Second Best
Retail
$1.46M
$1.28M – $1.70M
NOI $102,040 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,538 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Well-served
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with established restaurant and value-add potential.
Where is this shopping center located?
The property is located at 6062 W Park Ave Houma, LA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Established income‑generating tenants, including a 30+ year Asian restaurant; High‑traffic location near Southland Mall in Houma; Value‑add opportunity with multiple vacant units for lease (approx. 6,600 SF total)
