One-Story Medical
For Sale
$3,800,000
166 Corporate Drive, Houma, LA 70360
Commercial Sale, Houma, LA
Property Size10,853 SF
Lot Size1.12 Acres
Price / SF$350.13
Days on Market496
Property Features for 166 Corporate Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
Parking
39
Exterior features
Pole Sign
Accessibility
Accessible Approach with Ramp
Subdivision
Corporate Acres
Directions
From West Tunnel Blvd. left onto Corporate Drive, building on right.
Standard status
Active
Size
10,853 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Description
Tract 5-A (Redivision) Block 4, Adden. No. 1, Corporate Acres Subdivision
Legal Description
Tract 5-A (Redivision) Block 4, Adden. No. 1, Corporate Acres Subdivision
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Amenities
covered drop off/pick up area
Building Details
Floors in Building
1
Flooring type
Tile, Tile - Ceramic, Carpet - Full, Vinyl, Concrete
Building materials
Brick, Metal Const
Roof type
Rubber, Metal
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Hank Babin · License #57860
(985) 804-9991
Added: May 6, 2025
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# 2025008292
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2008, this 10,853-square-foot medical center occupies a 1.12-acre site on Corporate Drive in Houma. The single-level steel-frame building includes a covered patient arrival area, reception and waiting space, treatment and exam rooms, a mammography suite, surgical facilities, physician offices, staff areas, storage, dressing rooms, showers, laundry, and multiple bathrooms. Its operating area includes pre-operative and recovery rooms, a nursing station, five patient spaces, a medication room, sterile circulation, and instrument and supply areas.
The property has 39 parking spaces, including 4 designated for handicap access. Construction features include brick and metal components, a rubber and metal roof system, non-combustible construction, automatic sprinklers, and a fire alarm system. Portions of the structure are designed to accommodate a possible 6,843-square-foot second floor with an elevator and additional physician offices. The site is positioned between Tunnel Boulevard and Hollywood Road, near the Martin Luther King retail corridor and a medical area. Online mapping places the building in FEMA Flood Zone X, while a small portion of the parking lot is identified as Zone AE (El 6).
The property has 39 parking spaces, including 4 designated for handicap access. Construction features include brick and metal components, a rubber and metal roof system, non-combustible construction, automatic sprinklers, and a fire alarm system. Portions of the structure are designed to accommodate a possible 6,843-square-foot second floor with an elevator and additional physician offices. The site is positioned between Tunnel Boulevard and Hollywood Road, near the Martin Luther King retail corridor and a medical area. Online mapping places the building in FEMA Flood Zone X, while a small portion of the parking lot is identified as Zone AE (El 6).
Key Highlights
- 10,853 SF medical center on 1.12 acres
- Built in 2008 as a one‑story steel‑frame structure
- Clinical layout includes mammography, surgical, treatment, and exam areas
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
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The facility includes treatment, examination, surgical, administrative, and patient-support areas.
Where is this medical center located?
The property is located at 166 Corporate Drive 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 medical center on 1.12 acres; Built in 2008 as a one‑story steel‑frame structure; Clinical layout includes mammography, surgical, treatment, and exam areas
