Medical Center with Surgical
For Sale
$3,800,000
166 Corporate Dr, Houma, LA 70360
One-story ambulatory healthcare facility with specialized treatment, surgical, administrative, and patient-support areas.
Property Size10,853 SF
Lot Size1.12 Acres
Price / SF$350.13
Days on Market24
Property Features for 166 Corporate Dr
General Information
Standard status
Active
Size
10,853 SF
Total Parking Spaces
39
Elevators
No
Lot size
1.12 Acres
Additional Details
Sprinkler System
Yes
Building Details
Year Built
2008
Buildings
1
Stories
1
Building Size
10,853 SF
Construction
steel frame
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 804-9991
Listed By:
Hank Babin · License #57860
Source:
Smithsquared
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 30 at 8:16PM
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 KELLER WILLIAMS REALTY BAYOU P
Investment Insights
Based on property information with market context.
This 10,853-square-foot ambulatory healthcare building offers a purpose-built clinical layout with treatment and exam rooms, a mammography suite, operating room, pre-op and recovery areas, nurse stations, dressing rooms, physician offices, administrative space, supply rooms, and staff facilities. Patient circulation includes a covered arrival area, reception, check-in, waiting areas, and multiple bathrooms. The property was constructed in 2008 as a one-story, non-combustible steel-frame building with a membrane roof, automatic sprinklers, and a fire alarm system.
The 1.12-acre site is located at 166 Corporate Dr in Houma, between Tunnel Blvd. and Hollywood Road. It is near the Martin Luther King retail corridor and an expanding medical area. The property includes 39 parking spaces, including 4 handicap-accessible spaces. Portions of the structure are designed to support a future 6,843-square-foot second floor with an elevator and additional physician offices. The building is in FEMA Flood Zone X, while a small portion of the parking lot is in Zone AE (El 6).
The 1.12-acre site is located at 166 Corporate Dr in Houma, between Tunnel Blvd. and Hollywood Road. It is near the Martin Luther King retail corridor and an expanding medical area. The property includes 39 parking spaces, including 4 handicap-accessible spaces. Portions of the structure are designed to support a future 6,843-square-foot second floor with an elevator and additional physician offices. The building is in FEMA Flood Zone X, while a small portion of the parking lot is in Zone AE (El 6).
Key Highlights
- 10,853 SF ambulatory healthcare building on a 1.12‑acre site
- Operating room with pre‑op, recovery, nurse station, sterile corridor, and instrument storage areas
- Mammography suite with four treatment/exam rooms, dressing room, waiting area, and bathroom
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
$170,104
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
4.48%
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%
$3,402,080
$3.4M
Cap Rate 7%
$2,430,057
$2.4M
Cap Rate 9%
$1,890,044
$1.9M
Market Conditions
NOI Build-Up for 10,853 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
$293.0K $27.00/SF
− Vacancy
−$66.2K −$6.10/SF
EGI
$226.8K $20.90/SF
− OpEx
−$56.7K −$5.22/SF
NOI
$170.1K $15.67/SF
Area
Terrebonne County, LA
Vacancy
22.60%
Lease Rate
$27.00 /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%
$3,402,080
Cap Rate 7%
$2,430,057
Cap Rate 9%
$1,890,044
Alternative Uses
Best Use
Office B
$2.43M
$2.13M – $2.84M
NOI $170,104 @ 7.0% cap · market cap 4.48%
Second Best
Healthcare Medical
$2.17M
$1.90M – $2.53M
NOI $151,790 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,419 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
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?
Medical center - One-story ambulatory healthcare facility with specialized treatment, surgical, administrative, and patient-support areas.
Where is this medical center located?
The property is located at 166 Corporate Dr Houma, LA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 10,853 SF ambulatory healthcare building on a 1.12‑acre site; Operating room with pre‑op, recovery, nurse station, sterile corridor, and instrument storage areas; Mammography suite with four treatment/exam rooms, dressing room, waiting area, and bathroom
