Building Details

Tenancy Single

Listing Agency: Canal & Main Realty

Listed By: Shantelle Abshire · License #995699245 Show Phone

Source: Lacdb.resimplifi

Added: Sep 11 Changed: Oct 25 Last Checked: Oct 30 at 10:34AM

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Investment Insights

Based on property information with market context.

This 61,925-square-foot manufacturing facility occupies a 5.55-acre leasehold and is served by a 50-ton crane. The building is fully occupied by Houma Armature Works, a Nidec Motor Corporation subsidiary, under a lease guaranteed by Nidec. The property is zoned I1 and includes a roof replacement completed across the complex within the last two to three years.

The site is located in Houma-Terrebonne Airport Industrial Park with direct access to U.S. Highway 90 and the Houston-to-Gulf energy corridor. The ground lease with the Houma-Terrebonne Airport Commission is recorded through 2035 and has been extended twice. A storage facility was completed in 2024–2025 in connection with the tenant’s investment in the crane and site operations. The leasehold reports an approximate 8.1% cap rate and includes contractual 8% escalations at each five-year renewal, with up to six future renewal options.

Key Highlights

• 61,925 SF manufacturing facility on a 5.55‑acre leasehold
• 50‑ton crane and storage facility completed in 2024–2025
• 100% occupied by Houma Armature Works, a Nidec Motor Corporation subsidiary

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$398,195

Cap Rate

8.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,963,900 $8.0M

Cap Rate 7%

$5,688,500 $5.7M

Cap Rate 9%

$4,424,389 $4.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 61,925 SF

Gross rent

$587.0K $9.48/SF

− Vacancy

−$18.2K −$0.29/SF

EGI

$568.9K $9.19/SF

− OpEx

−$170.7K −$2.76/SF

NOI

$398.2K $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 Rate 5%

$7,963,900

Cap Rate 7%

$5,688,500

Cap Rate 9%

$4,424,389

Alternative Uses

Best Use

Warehouse

$6.91M

$6.04M – $8.06M (±1% cap)

NOI $483,523 @ 7.0% cap · market cap 10.29%

Second Best

Industrial

$5.69M

$4.98M – $6.64M (±1% cap)

NOI $398,195 @ 7.0% cap · market cap 8.47%

Theoretical Best

Office A

$17.07M

$14.94M – $19.92M (±1% cap)

NOI $1,194,905 @ 7.0% cap · market cap 25.42%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Houma Armature Works ... Industrial Manufacturer

Suggested Use

Top Pick Real Estate Agency Hair Salon Dental Office Spa & Massage Center Electrical Service Nail Salon

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

100%

Occupancy

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

406

Businesses Nearby

Explore this area Business Placement

Demographics for 70363, LA

25,319

Population

10,449

Households

2.4

Avg Household Size

36

Median Age

8%

College-Educated

75%

High-School Grad

78.4 sq mi

ZIP Area

323

Density / Sq Mi

$44,828

Median Household Income

$33,176

Median Earnings

$1,054

Median Rent

$143,800

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Industrial manufacturing facility with crane service, full occupancy, and a corporate-backed net-lease structure.

Where is this manufacturing property located?

The property is located at 2534 Cummins Rd Houma, LA.

What is the asking price?

The asking price for this property is $4,700,000.

What are key features of this property?

This property features: 61,925 SF manufacturing facility on a 5.55‑acre leasehold; 50‑ton crane and storage facility completed in 2024–2025; 100% occupied by Houma Armature Works, a Nidec Motor Corporation subsidiary