Building Details

Year Built 2004

Listing Agency: REMAX Commercial Brokers, Inc

Listed By: Lucy Chun Show Phone

Source: Lacdb.resimplifi

Added: Feb 13 Changed: Oct 3 Last Checked: Oct 16 at 5:56AM

Report an Issue

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 REMAX Commercial Brokers, Inc

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The property contains a 6,810-square-foot restaurant building constructed in 2004. Its configuration includes a large dining room and nine hibachi stations, creating a purpose-built setting for Japanese steakhouse and sushi operations. Business assets and FF&E are also available with the property.

Located at 1876 Martin Luther King Jr Blvd in Houma, Louisiana, the site includes ample parking and carries Comm zoning. The restaurant improvements provide an existing dining-oriented layout with dedicated hibachi cooking stations and customer seating space.

Key Highlights

• 6,810 SF restaurant property
• Nine hibachi stations
• Large dining room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,358

Cap Rate

4.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,107,160 $2.1M

Cap Rate 7%

$1,505,114 $1.5M

Cap Rate 9%

$1,170,644 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,810 SF

Gross rent

$147.1K $21.60/SF

− Vacancy

−$6.6K −$0.97/SF

EGI

$140.5K $20.63/SF

− OpEx

−$35.1K −$5.16/SF

NOI

$105.4K $15.47/SF

Area

Terrebonne County, LA

Vacancy

4.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,107,160

Cap Rate 7%

$1,505,114

Cap Rate 9%

$1,170,644

Alternative Uses

Best Use

Specialty Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,358 @ 7.0% cap · market cap 4.39%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.88M

$1.64M – $2.19M (±1% cap)

NOI $131,406 @ 7.0% cap · market cap 5.48%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Building Supply Dental Office Big Box & Wholesale Store Real Estate Agency Gym & Fitness Center

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

391

Businesses Nearby

Under-served

Demand for This Use

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

See more

Restaurant and Meat Market

730 Corporate Dr, Houma, LA 70360

$1,450,000

5,448 SF

View details

Signalized Corner Endcap Retail Suite

1303 Grand Caillou Rd, Houma, LA 70363

$875,000

5,150 SF

View details

Two-Section Restaurant Building

7726 Main St, Houma, LA 70360

$999,000

9,472 SF

View details

Houma Shopping Center For Sale

6062 W Park Ave, Houma, LA 70364

$1,395,000

10,600 SF

View details

C2 Restaurant and Bar Property

1110 Grand Caillou Rd, Houma, LA 70363

$450,000

5,136 SF

View details

Restaurant with Upstairs Office/Storage

9892 E Main St, Houma, LA 70363

$399,000

4,723 SF

View details

Rally’s Drive-Through Restaurant

1159 Grand Caillou, Houma, LA 70363

$850,000

View details

Renovated Flex Building with Salon

311 Barrow St, Houma, LA 70360

$652,000

6,855 SF

View details

Commercial Sale

8061 Main St, Houma, LA 70360

$475,000

6,325 SF

View details

NNN Commercial Property

1043 W Tunnel Boulevard, Houma, LA 70360

$895,000

8,412 SF

View details

Steel Flex Office-Warehouse

134 Menard Rd, Houma, LA 70363

$180,000

6,288 SF

View details

Self-Storage and Bar Portfolio

126 N Hollywood, Houma, LA 70364

$785,000

8,538 SF

View details

Similar Off Market Nearby

• Grand Buffet — 1779 Martin Luther King Blvd Suite 200, Houma, LA 70360

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established restaurant layout with nine hibachi stations, a large dining room, and on-site parking.

Where is this conventional restaurant located?

The property is located at 1876 Martin Luther King Jr Blvd Houma, LA.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: 6,810 SF restaurant property; Nine hibachi stations; Large dining room