Building Details

Year built 2005

Building materials Metal Siding

Roof type Metal

Listing Agency: Canal & Main Realty S***@canalmain.com Show Phone

Listed By: Amber Landry · License #995713170 Show Phone

Added: Sep 11 Changed: Oct 23 Last Checked: Oct 24 at 11:06AM

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MLS# 2026016748

Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

The 61,925-square-foot industrial facility, built in 2005, is fully occupied by Houma Armature Works, a subsidiary of Nidec Motor Corporation. Nidec guarantees the tenant’s lease obligations. The property has central heating and air conditioning, metal siding and roofing, and a parking lot. A 50-ton crane and storage facility were completed in 2024–2025, and the complex’s roof was replaced within the past two to three years.

The 5.5-acre property is held under a ground lease with the Houma-Terrebonne Airport Commission, recorded through 2035 and extended twice. It is within Houma-Terrebonne Airport Industrial Park, with direct access to U.S. Highway 90. The leasehold has an approximate 8.1% cap rate, 8% rent escalations at each five-year renewal, and up to six future renewal options.

Key Highlights

• 61,925‑square‑foot industrial facility with 100% occupancy
• Houma Armature Works, a Nidec Motor Corporation subsidiary, occupies the property; Nidec guarantees lease obligations
• Approximate 8.1% cap rate and 8% rent escalations at each five‑year renewal

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

Industrial

$5.69M

$4.98M – $6.64M (±1% cap)

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

Second Best

—

—

no second resolved use

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

Yes

Highway 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?

Industrial property - Fully occupied by a Nidec subsidiary, the leasehold property has a corporate guarantee and ground-lease structure.

Where is this industrial property located?

The property is located at 2534 CUMMINS ROAD 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‑square‑foot industrial facility with 100% occupancy; Houma Armature Works, a Nidec Motor Corporation subsidiary, occupies the property; Nidec guarantees lease obligations; Approximate 8.1% cap rate and 8% rent escalations at each five‑year renewal