Building Details

Year Built 1962

Listing Agency: Bricks & Mortar- Real Estate

Listed By: Cassandra Groves · License #995695028 Show Phone

Source: Athomerealtyla

Added: Jun 12 Changed: Oct 16 Last Checked: Oct 7 at 12:55PM

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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.

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 / Yr

$12,566

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$251,320 $251.3K

Cap Rate 7%

$179,514 $179.5K

Cap Rate 9%

$139,622 $139.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,424 SF

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 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 (±1% cap)

NOI $12,566 @ 7.0% cap · market cap 5.47%

Second Best

Mixed Use

$178.5K

$156.2K – $208.3K (±1% cap)

NOI $12,496 @ 7.0% cap · market cap 5.44%

Theoretical Best

Specialty Retail

$306.9K

$268.6K – $358.1K (±1% cap)

NOI $21,486 @ 7.0% cap · market cap 9.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Beauty Spa & Nails Nail Salon Who Dat Beauty ... Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage Butcher Florist Daycare Center Tanning Salon Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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 St 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