Office/Warehouse Flex
For Sale
$825,000
9164 Comar Dr, Walker, LA 70785
Two office/warehouse suites offer combined workspace and warehouse areas with convenient access to major transportation routes.
Property Size6,334 SF
Price / SF$130.25
Days on Market47
Property Features for 9164 Comar Dr
General Information
Standard status
Active
Size
6,334 SF
Building Details
Tenancy
Multi
Listing Agency:
Covington & Associates Real Estate, LLC
Listed By:
Aaron Goolsby · License #0000069174
(225) 571-4149
Source:
Larry.agent225
Added: Jul 21
Changed: Aug 31
Last Checked: Sep 4 at 9:39AM
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 Covington & Associates Real Estate, LLC
Investment Insights
Based on property information with market context.
This multi-tenant office/warehouse flex building includes two separate suites. Suite A offers approximately 1,841 square feet of office space and 1,903 square feet of warehouse space, supporting administrative operations alongside warehouse use. Suite B includes approximately 1,001 square feet of office space and 1,589 square feet of warehouse space, providing flexibility for a second tenant or business operation.
The property is located at 9164 Comar Dr. in Walker, LA, with easy access to major transportation routes. Each suite combines office and warehouse areas for commercial activities that require both administrative space and warehouse support.
Shown by appointment only, the building is presented for sale and is suited for owner-occupants and investors seeking a versatile commercial asset with two independent suites.
The property is located at 9164 Comar Dr. in Walker, LA, with easy access to major transportation routes. Each suite combines office and warehouse areas for commercial activities that require both administrative space and warehouse support.
Shown by appointment only, the building is presented for sale and is suited for owner-occupants and investors seeking a versatile commercial asset with two independent suites.
Key Highlights
- Multi‑tenant office/warehouse at 9164 Comar Dr. with two suites
- Suite A: approx. 1,841 SF office and 1,903 SF warehouse
- Suite B: approx. 1,001 SF office and 1,589 SF warehouse
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
$51,290
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
6.22%
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%
$1,025,800
$1.0M
Cap Rate 7%
$732,714
$732.7K
Cap Rate 9%
$569,889
$569.9K
Market Conditions
NOI Build-Up for 6,334 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
$61.6K $9.72/SF
− Vacancy
−$1.2K −$0.19/SF
EGI
$60.3K $9.53/SF
− OpEx
−$9.1K −$1.43/SF
NOI
$51.3K $8.10/SF
Area
Livingston County, LA
Vacancy
1.99%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
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%
$1,025,800
Cap Rate 7%
$732,714
Cap Rate 9%
$569,889
Alternative Uses
Best Use
Warehouse
$732.7K
$641.1K – $854.8K
NOI $51,290 @ 7.0% cap · market cap 6.22%
Second Best
Industrial
$603.4K
$528.0K – $704.0K
NOI $42,239 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,185 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70785, LA
22,569
Population
8,555
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
88%
High-School Grad
93.3 sq mi
ZIP Area
242
Density / Sq Mi
$84,551
Median Household Income
$52,025
Median Earnings
$1,059
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two office/warehouse suites offer combined workspace and warehouse areas with convenient access to major transportation routes.
Where is this flex space located?
The property is located at 9164 Comar Dr Walker, LA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Multi‑tenant office/warehouse at 9164 Comar Dr. with two suites; Suite A: approx. 1,841 SF office and 1,903 SF warehouse; Suite B: approx. 1,001 SF office and 1,589 SF warehouse
