Flex Building with Fenced
For Sale
$675,000
227 Lewis St, Sulphur, LA 70663
Renovated offices, warehouse capacity, controlled access, and a lighted enclosed yard support a range of business operations.
Property Size7,164 SF
Price / SF$94.22
Days on Market771
Property Features for 227 Lewis St
General Information
Standard status
Active
Size
7,164 SF
Property subtype
Industrial
Additional Details
Fenced Yard
Yes
Amenities
fenced yard
electric gates
lighted outdoor area
kitchenette
Water
Sewer
Vacant
Building Details
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
The Real Estate Brokerage
Listed By:
Justin Babineaux CCIM · License #995682326
(337) 540-4041
Source:
Lacdb.resimplifi
Added: Jul 24, 2024
Changed: Sep 2
Last Checked: Sep 2 at 2:03PM
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 The Real Estate Brokerage
Investment Insights
Based on property information with market context.
Located at 227 Lewis St in Sulphur, LA, this 7,164-square-foot flex building combines renovated office space with a substantial warehouse component. The lower level includes five offices and a kitchenette, while two additional offices are positioned upstairs. A separate air-conditioned bathroom serves the warehouse area.
The warehouse is equipped with three 14' x 20' heavy-duty roll-up doors and includes framing for an overhead crane. Outside, the property offers a completely fenced yard with electric gates and lighting. The building is currently occupied by a tenant and should be shown by appointment without disturbing operations.
The warehouse is equipped with three 14' x 20' heavy-duty roll-up doors and includes framing for an overhead crane. Outside, the property offers a completely fenced yard with electric gates and lighting. The building is currently occupied by a tenant and should be shown by appointment without disturbing operations.
Key Highlights
- 7,164‑square‑foot flex building at 227 Lewis St, Sulphur, LA 70663
- Three 14' x 20' heavy‑duty industrial roll‑up doors
- Renovated office area with five downstairs offices, kitchenette, and two upstairs offices
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
$53,802
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
7.97%
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%
$1,076,040
$1.1M
Cap Rate 7%
$768,600
$768.6K
Cap Rate 9%
$597,800
$597.8K
Market Conditions
NOI Build-Up for 7,164 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
$67.9K $9.48/SF
− Vacancy
−$4.6K −$0.64/SF
EGI
$63.3K $8.84/SF
− OpEx
−$9.5K −$1.33/SF
NOI
$53.8K $7.51/SF
Area
Calcasieu County, LA
Vacancy
6.80%
Lease Rate
$9.48 /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%
$1,076,040
Cap Rate 7%
$768,600
Cap Rate 9%
$597,800
Alternative Uses
Best Use
Flex RnD
$1.40M
$1.22M – $1.63M
NOI $97,677 @ 7.0% cap · market cap 14.47%
Second Best
Office B
$898.1K
$785.8K – $1.05M
NOI $62,864 @ 7.0% cap · market cap 9.31%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,094 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70663, LA
29,325
Population
12,767
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
97.8 sq mi
ZIP Area
300
Density / Sq Mi
$59,444
Median Household Income
$37,587
Median Earnings
$914
Median Rent
$174,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated offices, warehouse capacity, controlled access, and a lighted enclosed yard support a range of business operations.
Where is this flex space located?
The property is located at 227 Lewis St Sulphur, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 7,164‑square‑foot flex building at 227 Lewis St, Sulphur, LA 70663; Three 14' x 20' heavy‑duty industrial roll‑up doors; Renovated office area with five downstairs offices, kitchenette, and two upstairs offices
