Commercial Land with Existing
For Sale
$525,000
2655 W Park Avenue, Gray, LA 70359
COMMERCIAL - Gray, LA
Property Size2,144 SF
Lot Size12.43 Acres
Price / SF$244.87
Days on Market1576
Property Features for 2655 W Park Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Hedgeford Plnt
Directions
North of US Hwy. 90 on LA Hwy 24
Standard status
Active
Size
2,144 SF
Lot size
12.43 Acres
Taxes and HOA fees
Tax Description
Lot 42 & Upper lot 43 links of lot 41 Hedgeford Plantation
Legal Description
Lot 42 & Upper lot 43 links of lot 41 Hedgeford Plantation
Utilities
Utilities
Natural Gas Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile - Ceramic, Carpet - Full
Building materials
Brick
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Hank Babin · License #37498
(985) 804-9991
Added: Apr 12, 2022
Changed: Aug 3
Last Checked: Aug 4 at 4:06PM
MLS# 165030
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12.43-acre commercial land holding includes a 2,144-square-foot brick structure currently configured as a residence. The building features ceramic tile and full carpeting, along with central heating and central air. Its existing layout can be adapted for office use, providing an improved starting point for an owner-user or future commercial plan. Public water serves the property, and natural gas is available.
The tract fronts LA Highway 24, also known as West Park Avenue, approximately two miles north of U.S. Highway 90, identified in the source information as Future I-49. More than two-thirds of the acreage is within FEMA Flood Zone X. The property is located in Gray, Louisiana, within Terrebonne Parish and the Houma-Thibodaux MSA.
The tract fronts LA Highway 24, also known as West Park Avenue, approximately two miles north of U.S. Highway 90, identified in the source information as Future I-49. More than two-thirds of the acreage is within FEMA Flood Zone X. The property is located in Gray, Louisiana, within Terrebonne Parish and the Houma-Thibodaux MSA.
Key Highlights
- 12.43‑acre commercial land tract in Gray, LA
- 2,144 SF brick structure currently configured as a residence
- Existing structure can be adapted for office use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.9k | $27.00 |
| − Vacancy | −$13.1k | −$6.10 |
| EGI | $44.8k | $20.90 |
| − OpEx | −$11.2k | −$5.22 |
| NOI | $33.6k | $15.67 |
2,144 SF · lease $27.00/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$480.1K
$420.1K – $560.1K
NOI $33,604 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$591.0K
$517.1K – $689.5K
NOI $41,371 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 70359, LA
9,591
Population
3,768
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
82%
High-School Grad
14.4 sq mi
ZIP Area
666
Density / Sq Mi
$54,139
Median Household Income
$33,058
Median Earnings
$1,119
Median Rent
$161,300
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?
Commercial land - A substantial Louisiana tract includes an existing structure that can support office-oriented commercial use.
Where is this commercial land located?
The property is located at 2655 W Park Avenue Gray, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 12.43‑acre commercial land tract in Gray, LA; 2,144 SF brick structure currently configured as a residence; Existing structure can be adapted for office use
