Drive-Through Restaurant
For Sale
Contact for pricing
Pending
1151 Grand Caillou Rd, Houma, LA 70363
Restaurant site with on-site parking and a drive-thru with access to a side street.
Property Size2,340 SF
Days on Market556
Property Features for 1151 Grand Caillou Rd
General Information
Standard status
Pending
Size
2,340 SF
Property subtype
Retail
Building Details
Year Built
2008
Listing Agency:
Carlton & Associates Real Estate
Listed By:
Shane Guin · License #LA - BROK.995697726-ASA
Source:
Crexi
Added: Feb 28, 2025
Changed: Sep 5
Last Checked: Sep 5 at 11:44AM
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 Carlton & Associates Real Estate
Investment Insights
Based on property information with market context.
This former Popeye’s Fried Chicken location offers a drive-thru and on-site parking, with vehicle access out to a side street. The property is a dedicated restaurant site built for convenient customer flow and straightforward operations.
The site is located just off the intersection of Grand Caillou Road and Prospect Boulevard, along a busy food corridor. Grand Caillou Road is described as carrying substantial daily traffic, supporting consistent visibility to passersby.
Offered for sale as a single restaurant property, the building’s core improvements include the drive-thru configuration and parking to serve on-site guests and vehicles entering from the drive-thru.
The site is located just off the intersection of Grand Caillou Road and Prospect Boulevard, along a busy food corridor. Grand Caillou Road is described as carrying substantial daily traffic, supporting consistent visibility to passersby.
Offered for sale as a single restaurant property, the building’s core improvements include the drive-thru configuration and parking to serve on-site guests and vehicles entering from the drive-thru.
Key Highlights
- Restaurant site built in 2008
- Former Popeye's Fried Chicken location
- On‑site parking available
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
$36,202
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
5.57%
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%
$724,040
$724.0K
Cap Rate 7%
$517,171
$517.2K
Cap Rate 9%
$402,244
$402.2K
Market Conditions
NOI Build-Up for 2,340 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
$50.5K $21.60/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$48.3K $20.63/SF
− OpEx
−$12.1K −$5.16/SF
NOI
$36.2K $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%
$724,040
Cap Rate 7%
$517,171
Cap Rate 9%
$402,244
Alternative Uses
Best Use
Specialty Retail
$517.2K
$452.5K – $603.4K
NOI $36,202 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.0K
$564.4K – $752.6K
NOI $45,153 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Dining 7%
Home Improvements & Furnishings 2%
Ollie's Bargain Outlet
Shops & Services
17,357 visits/mo
0.1 miles
Dollar Tree
Shops & Services
15,743 visits/mo
0.5 miles
Dollar General
Shops & Services
4,397 visits/mo
0.2 miles
Pizza Hut
Dining
2,970 visits/mo
0.2 miles
Affordable Home Furnishings
Home Improvements & Furnishings
792 visits/mo
0.4 miles
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
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?
Drive through restaurant - Restaurant site with on-site parking and a drive-thru with access to a side street.
Where is this drive through restaurant located?
The property is located at 1151 Grand Caillou Rd Houma, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Restaurant site built in 2008; Former Popeye's Fried Chicken location; On‑site parking available
