Flex Space with Office and
For Sale
$399,000
217 N Hollywood Rd, Houma, LA 70360
COMMERCIAL - Houma, LA
Property Size3,840 SF
Lot Size1.80 Acres
Price / SF$103.91
Days on Market2640
Property Features for 217 N Hollywood Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Commerce Place
Directions
On North Hollywood between Alma and St Louis Canal Road
Standard status
Active
Size
3,840 SF
Lot size
1.80 Acres
Taxes and HOA fees
Tax Description
Lot 5 & 6 Adden 1, and rear Lots, less 10"
Legal Description
Lot 5 & 6 Adden 1, and rear Lots, less 10"
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Vinyl
Building materials
Metal Const
Roof type
Metal
Listing Agency:
Good Earth Realty, Inc. · RE/MAX International
(985) 851-3999
Listed By:
Shirin Nail/ Cynthia Pellegrin · License #467517117
(985) 637-2255
Added: Jun 11, 2019
Changed: Aug 4
Last Checked: Sep 1 at 2:06AM
MLS# 155027
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.
Flex space offering approximately 1.8 acres and 3,840 SF with metal construction and a metal roof. The layout includes 10 offices and a shop area, plus vinyl flooring. Heating and cooling are central, and the property is served by public water and public sewer.
The site is chain link fenced and provides easy access to Highway 182, Highway 311, and Highway 90, supporting business use for storage, supply, trucking, or heavy equipment. Owner would consider a triple net lease.
For tenants seeking a functional office-and-shop configuration within a fenced flex environment, the combination of office rooms, shop space, and highway access can help streamline day-to-day operations and deliveries.
The site is chain link fenced and provides easy access to Highway 182, Highway 311, and Highway 90, supporting business use for storage, supply, trucking, or heavy equipment. Owner would consider a triple net lease.
For tenants seeking a functional office-and-shop configuration within a fenced flex environment, the combination of office rooms, shop space, and highway access can help streamline day-to-day operations and deliveries.
Key Highlights
- Approximately 1.8‑acre flex space with 3,840 SF of building area
- 10 offices plus shop area
- Chain link fenced lot
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
$35,224
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
8.83%
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%
$704,480
$704.5K
Cap Rate 7%
$503,200
$503.2K
Cap Rate 9%
$391,378
$391.4K
Market Conditions
NOI Build-Up for 3,840 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
$55.3K $14.40/SF
− Vacancy
−$1.1K −$0.29/SF
EGI
$54.2K $14.11/SF
− OpEx
−$19.0K −$4.94/SF
NOI
$35.2K $9.17/SF
Area
Terrebonne County, LA
Vacancy
2.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$704,480
Cap Rate 7%
$503,200
Cap Rate 9%
$391,378
Alternative Uses
Best Use
Flex RnD
$503.2K
$440.3K – $587.1K
NOI $35,224 @ 7.0% cap · market cap 8.83%
Second Best
Industrial
$352.7K
$308.7K – $411.5K
NOI $24,692 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.06M
$926.2K – $1.23M
NOI $74,097 @ 7.0% cap · market cap 18.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
341
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space on a fenced lot with 10 offices, a shop area, and central HVAC with public water and sewer.
Where is this flex space located?
The property is located at 217 N Hollywood Rd Houma, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 1.8‑acre flex space with 3,840 SF of building area; 10 offices plus shop area; Chain link fenced lot
