Mixed-Use Live/Work
For Sale
$229,900
242 West Hale Street, Lake Charles, LA 70601
Updated live/work commercial space offers 3 bedrooms and 2 bathrooms with flexible layout for residential or business use.
Property Size1,424 SF
Price / SF$161.45
Days on Market137
Property Features for 242 West Hale Street
General Information
Standard status
Active
Size
1,424 SF
Property subtype
Other
Amenities
3
160 X 50, 0.19
Building Details
Year Built
1962
Listing Agency:
Bricks & Mortar- Real Estate
(337) 564-6345
Listed By:
Cassandra Groves · License #995695028
(337) 489-6608
Source:
Xome
Added: Apr 22
Changed: Sep 3
Last Checked: Sep 5 at 5:45AM
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 Bricks & Mortar- Real Estate
Investment Insights
Based on property information with market context.
This mixed-use commercial property was formerly a nail salon and is configured with 3 bedrooms and 2 bathrooms. The layout is adaptable for residential use, business use, or a live/work setup, and the interior has been recently refreshed with fresh paint and brand-new flooring, presenting a bright, turnkey environment for a new owner.
The property is positioned on high-visibility frontage on Ernest Street, directly across from Prien Lake Mall. With ample on-site parking, it offers convenient access for customers and occupants in a central retail and dining area.
All measurements are approximate and provided on an M/L basis.
The property is positioned on high-visibility frontage on Ernest Street, directly across from Prien Lake Mall. With ample on-site parking, it offers convenient access for customers and occupants in a central retail and dining area.
All measurements are approximate and provided on an M/L basis.
Key Highlights
- Updated live/work commercial space with 3 bedrooms and 2 bathrooms and a flexible layout for residential or business use
- Fresh interior paint and brand‑new flooring throughout
- Located directly across from Prien Lake Mall with Ernest Street frontage
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
$12,566
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
5.47%
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%
$251,320
$251.3K
Cap Rate 7%
$179,514
$179.5K
Cap Rate 9%
$139,622
$139.6K
Market Conditions
NOI Build-Up for 1,424 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
$18.8K $13.20/SF
− Vacancy
−$846 −$0.59/SF
EGI
$18.0K $12.61/SF
− OpEx
−$5.4K −$3.78/SF
NOI
$12.6K $8.82/SF
Area
Calcasieu County, LA
Vacancy
4.50%
Lease Rate
$13.20 /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%
$251,320
Cap Rate 7%
$179,514
Cap Rate 9%
$139,622
Alternative Uses
Best Use
Retail
$179.5K
$157.1K – $209.4K
NOI $12,566 @ 7.0% cap · market cap 5.47%
Second Best
Mixed Use
$178.5K
$156.2K – $208.3K
NOI $12,496 @ 7.0% cap · market cap 5.44%
Theoretical Best
Specialty Retail
$306.9K
$268.6K – $358.1K
NOI $21,486 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Updated live/work commercial space offers 3 bedrooms and 2 bathrooms with flexible layout for residential or business use.
Where is this live-work space located?
The property is located at 242 West Hale Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Updated live/work commercial space with 3 bedrooms and 2 bathrooms and a flexible layout for residential or business use; Fresh interior paint and brand‑new flooring throughout; Located directly across from Prien Lake Mall with Ernest Street frontage
