Building Details

Year Renovated 2017

Buildings 1

Stories 2

Construction pier and beam

Abandoned No

Listing Agency: RE/MAX Acadiana

Listed By: Merrie Chris Leger · License #27767 Show Phone

Source: Athomerealtyla

Added: Aug 1 Changed: Sep 8 Last Checked: Sep 18 at 12:49PM

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Investment Insights

Based on property information with market context.

This restaurant property at 104 N Main St in Washington combines an early-1800s pier-and-beam structure with updates completed in 2017. The building is listed on the National Register of Historic Places and retains antique wavy-glass windows that frame views of Main Street. An unfinished second floor provides additional interior area for future expansion. The property is currently operating as The Old Courtableau Cafe, with a restaurant setting that includes live music and a Cajun fais do-do atmosphere. It occupies the intersection of Main Street and West Moundville. Furniture, fixtures, and equipment are excluded from the offering but may be negotiated with an acceptable offer.

Key Highlights

• 3,882 SF restaurant property at 104 N Main St, Washington, LA 70589
• Recognized on the National Register of Historic Places
• Original antique pier‑and‑beam construction dating to the early 1800s

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

$37,688

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

6.85%

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%

$753,760 $753.8K

Cap Rate 7%

$538,400 $538.4K

Cap Rate 9%

$418,756 $418.8K

Market Conditions

NOI Build-Up for 3,882 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

$53.6K $13.80/SF

− Vacancy

−$3.3K −$0.86/SF

EGI

$50.3K $12.94/SF

− OpEx

−$12.6K −$3.24/SF

NOI

$37.7K $9.71/SF

Area

St. Landry County, LA

Vacancy

6.20%

Lease Rate

$13.80 /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%

$753,760

Cap Rate 7%

$538,400

Cap Rate 9%

$418,756

Alternative Uses

Best Use

Specialty Retail

$538.4K

$471.1K – $628.1K (±1% cap)

NOI $37,688 @ 7.0% cap · market cap 6.85%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$585.6K

$512.4K – $683.2K (±1% cap)

NOI $40,994 @ 7.0% cap · market cap 7.45%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Old Courtableau Cafe Restaurant

Suggested Use

Top Pick Building Supply Auto Repair Shop Storage Facility Grocery & Convenience Store Bakery Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

79

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70589, LA

3,464

Population

1,522

Households

2.3

Avg Household Size

45

Median Age

13%

College-Educated

86%

High-School Grad

118.2 sq mi

ZIP Area

29

Density / Sq Mi

$44,063

Median Household Income

$31,838

Median Earnings

$653

Median Rent

$105,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Historic Restaurant Building

104 N Main Street, Washington, LA 70589

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3,882 SF

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Renovated restaurant property with an unfinished upper level and preserved architectural details in Washington.

Where is this conventional restaurant located?

The property is located at 104 N Main St Washington, LA.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 3,882 SF restaurant property at 104 N Main St, Washington, LA 70589; Recognized on the National Register of Historic Places; Original antique pier‑and‑beam construction dating to the early 1800s