Listing Agency: Good Earth Realty, Inc. Show Phone

Listed By: Shirin Nail/ Cynthia Pellegrin · License #20592 Show Phone

Source: Exprealty

Added: Jun 11, 2019 Changed: Sep 4 Last Checked: Oct 5 at 7:29PM

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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 Good Earth Realty, Inc.

Investment Insights

Based on property information with market context.

This industrial flex property is designed for operational needs and includes 10 offices plus a shop area. The site is chain-link fenced, and the property is described as having most of the acreage stabilized, which may support supply, trucking, or heavy equipment uses.

The property offers easy access to Highway 182, Highway 311, and Highway 90, supporting practical connectivity for service and logistics operations. The owner would consider a triple net lease.

For sale, the offering includes the office and shop improvements along with the fenced, stabilized acreage configuration suitable for established operational workflows.

Key Highlights

• Industrial flex building with 10 offices and a shop area
• Chain‑link fenced property
• Easy access to Highway 182, Highway 311, and Highway 90

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,224

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

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

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 Rate 5%

$704,480

Cap Rate 7%

$503,200

Cap Rate 9%

$391,378

Alternative Uses

Best Use

Office B

$859.8K

$752.3K – $1.00M (±1% cap)

NOI $60,186 @ 7.0% cap · market cap 15.08%

Second Best

Flex RnD

$503.2K

$440.3K – $587.1K (±1% cap)

NOI $35,224 @ 7.0% cap · market cap 8.83%

Theoretical Best

Office A

$1.06M

$926.2K – $1.23M (±1% cap)

NOI $74,097 @ 7.0% cap · market cap 18.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency Skin Care Clinic (Bike/Boat/Book/etc) Store Accounting Firm

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

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 70364, LA

29,559

Population

12,423

Households

2.4

Avg Household Size

37

Median Age

16%

College-Educated

87%

High-School Grad

42.2 sq mi

ZIP Area

700

Density / Sq Mi

$68,909

Median Household Income

$36,164

Median Earnings

$1,004

Median Rent

$195,600

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 flex building includes 10 offices and a shop area with chain-link fencing and highway access.

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: Industrial flex building with 10 offices and a shop area; Chain‑link fenced property; Easy access to Highway 182, Highway 311, and Highway 90