Building Details

Buildings 1

Listing Agency: DONNES REAL ESTATE, INC Show Phone

Listed By: Tim Thiac · License #995705267 Show Phone

Source: Exprealty

Added: Jul 6 Changed: Aug 8 Last Checked: Aug 8 at 3:25AM

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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 DONNES REAL ESTATE, INC

Investment Insights

Based on property information with market context.

This flex property at 213 Main Project Rd in Schriever, LA, contains approximately 9,600 square feet across finished office and warehouse areas. The office component includes 1,728 square feet of finished space, with additional storage positioned above it. Three overhead doors support warehouse access, while 440-volt electrical service accommodates applicable industrial operations.

The property occupies approximately 1.5 acres along a high-traffic, accessible roadway, providing room for parking, equipment, and outdoor storage. Its combination of office space, warehouse area, overhead access, elevated storage, and industrial electrical service creates a practical configuration for commercial, industrial, or distribution-related use.

Key Highlights

• Approximately 9,600 square feet of total space
• 1,728 square feet of finished office area
• Three overhead doors

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

$61,731

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

9.15%

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%

$1,234,620 $1.2M

Cap Rate 7%

$881,871 $881.9K

Cap Rate 9%

$685,900 $685.9K

Market Conditions

NOI Build-Up for 9,600 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

$91.0K $9.48/SF

− Vacancy

−$2.8K −$0.29/SF

EGI

$88.2K $9.19/SF

− OpEx

−$26.5K −$2.76/SF

NOI

$61.7K $6.43/SF

Area

Terrebonne County, LA

Vacancy

3.10%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

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%

$1,234,620

Cap Rate 7%

$881,871

Cap Rate 9%

$685,900

Alternative Uses

Best Use

Office B

$2.15M

$1.88M – $2.51M (±1% cap)

NOI $150,466 @ 7.0% cap · market cap 22.29%

Second Best

Flex RnD

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,059 @ 7.0% cap · market cap 13.05%

Theoretical Best

Office A

$2.65M

$2.32M – $3.09M (±1% cap)

NOI $185,242 @ 7.0% cap · market cap 27.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm HVAC Service Auto Parts Store Plumbing Service

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 70395, LA

4,843

Population

1,985

Households

2.4

Avg Household Size

41

Median Age

21%

College-Educated

92%

High-School Grad

48.9 sq mi

ZIP Area

99

Density / Sq Mi

$77,043

Median Household Income

$42,243

Median Earnings

$895

Median Rent

$201,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial facility combines finished office space with warehouse and outdoor storage capacity.

Where is this flex space located?

The property is located at 213 Main Project Rd Schriever, LA.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Approximately 9,600 square feet of total space; 1,728 square feet of finished office area; Three overhead doors