Hibachi Restaurant
For Sale
$2,400,000
1876 Martin Luther King Jr Blvd, Houma, LA 70360
Established restaurant layout with nine hibachi stations, a large dining room, and on-site parking.
Property Size6,810 SF
Price / SF$352.42
Days on Market200
Property Features for 1876 Martin Luther King Jr Blvd
General Information
Standard status
Active
Size
6,810 SF
Property subtype
Retail
Zoning
Comm
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
2004
Listing Agency:
REMAX Commercial Brokers, Inc
(504) 606-7788
Listed By:
Lucy Chun
(504) 606-7788
Source:
Lacdb.resimplifi
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 31 at 1:41PM
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
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.
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 = 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
$105,358
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
4.39%
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%
$2,107,160
$2.1M
Cap Rate 7%
$1,505,114
$1.5M
Cap Rate 9%
$1,170,644
$1.2M
Market Conditions
NOI Build-Up for 6,810 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
$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 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%
$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
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
NOI $131,406 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
