Listing Agency: Real Broker, LLC w***@onereal.com Show Phone

Listed By: Chris Lejeune · License #0995691823 Show Phone

Source: Exprealty

Added: Apr 17 Changed: Oct 10 Last Checked: Oct 16 at 10:58AM

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Investment Insights

Based on property information with market context.

This for-sale retail building offers flexible interior space with a workshop area and loft storage. Two rear overhead doors provide practical access for loading, unloading, or back-of-house operations. The overall layout is designed to support a retail use while also accommodating additional light work or storage needs.

The property is located on busy Highway 190 in Port Barre, LA, providing visibility to passing traffic.

As presented, the asset combines customer-facing space with functional back-area improvements, making it a useful option for operators seeking both retail presence and supported utility space within the same building.

Key Highlights

• Commercial property on busy Highway 190 with a retail building and flexible space for multiple business uses
• Includes a workshop plus loft storage for added back‑of‑house or storage functionality
• Two rear overhead doors provide convenient loading and easy access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,692

Cap Rate

4.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$333,840 $333.8K

Cap Rate 7%

$238,457 $238.5K

Cap Rate 9%

$185,467 $185.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$25.9K $10.80/SF

− Vacancy

−$2.1K −$0.86/SF

EGI

$23.8K $9.94/SF

− OpEx

−$7.2K −$2.98/SF

NOI

$16.7K $6.96/SF

Area

St. Landry County, LA

Vacancy

8.00%

Lease Rate

$10.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$333,840

Cap Rate 7%

$238,457

Cap Rate 9%

$185,467

Alternative Uses

Best Use

Retail

$238.5K

$208.7K – $278.2K (±1% cap)

NOI $16,692 @ 7.0% cap · market cap 4.77%

Second Best

Flex RnD

$233.7K

$204.5K – $272.7K (±1% cap)

NOI $16,361 @ 7.0% cap · market cap 4.67%

Theoretical Best

Office A

$362.1K

$316.8K – $422.4K (±1% cap)

NOI $25,344 @ 7.0% cap · market cap 7.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Electrical Service Garden Center (Bike/Boat/Book/etc) Store Auto Repair Shop HVAC Service Big Box & Wholesale Store

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

2

Drive-in doors

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70577, LA

4,424

Population

2,042

Households

2.2

Avg Household Size

40

Median Age

8%

College-Educated

88%

High-School Grad

76.1 sq mi

ZIP Area

58

Density / Sq Mi

$46,250

Median Household Income

$31,693

Median Earnings

$693

Median Rent

$98,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Versatile retail building includes a workshop, loft storage, and two rear overhead doors for convenient access.

Where is this flex space located?

The property is located at 16509 Highway 190 Port Barre, LA.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Commercial property on busy Highway 190 with a retail building and flexible space for multiple business uses; Includes a workshop plus loft storage for added back‑of‑house or storage functionality; Two rear overhead doors provide convenient loading and easy access