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    1514 Sampson St Westlake, LA 70669

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    Realmo.com

    Property size:
    17,267 SF

    Property Features for 1514 Sampson St

    General Information

    Property type
    Storefront properties
    Square Feet
    17,267 SF
    Total Parking Spaces
    49
    Lot Size
    2 SF

    Building Details

    Year Built
    2013
    Buildings
    1

    Overview

    Westlake Retail/Commercial Building For Sale

    The property, formerly a Miller’s Superstore built in 2013, is a freestanding retail/commercial building located in Westlake, Louisiana. The building has a spacious, flexible interior layout suitable for retail, showroom, warehouse-distribution, service, or owner-user operations. The property is situated on a ±2.35-acre site and includes a 17,267± SF single-story commercial building. There are 45 parking spaces plus 4 handicap spaces available. A loading dock is present for deliveries and logistics. The building's open floor plan and strong parking ratio make it ideal for retail operators, discount stores, sporting goods, hardware, grocery, specialty users, or adaptive reuse. The property has a new roof installed in 2021 and is in move-in ready condition. It is located in Flood Zone X, indicating a 0.2% annual chance flood hazard (low risk). The property is adjacent to the Westlake Recreational Center in a high visibility retail corridor near major highway access (I-10). Given the B-1 Commercial Shopping Central Community zoning and retail commercial classification, this property is well-suited for retail operations (grocery, department store, specialty retail), warehouse and distribution center, mixed commercial/office space, recreation or entertainment venue, and medical or professional services.

    We can help!

    Listing Contact
    Kelly Toney

    Learn more

    Property Insight Report

    HighLights

    • 17,267± SF single‑story commercial building ±2.35‑acre site 45 parking spaces plus 4 handicap spaces Loading dock for deliveries and logistics New roof (2021) Built in 2013 Flood Zone X 0.2% annual chance flood hazard (low risk) Move‑in ready condition
    Location Intelligence

    Current Use by Public Records

    higi Physician Western Union Bank Miller's Super Saver Department Store Westlake Farmers Market Food Market LibertyX Bitcoin ATM Atm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    State
    Louisiana
    Longitude
    -93.2581192
    Latitude
    30.2553161

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Storefront property - Realmo.com
    Where is this storefront property located?
    The property is located at 1514 Sampson St Westlake, LA.
    What are key features of this property?
    This property features: 17,267± SF single-story commercial building ±2.35-acre site 45 parking spaces plus 4 handicap spaces Loading dock for deliveries and logistics New roof (2021) Built in 2013 Flood Zone X 0.2% annual chance flood hazard (low risk) Move-in ready condition
    (713) 816-1123
    Request Owner's contact information
    1514 Sampson St Westlake, LA 70669
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    Westlake, LA 70669
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1514 Sampson St Westlake, LA 70669
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    We can help!
    Listing Contact
    Kelly Toney
    (713) 816-1123
    Learn more
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