Waterfront Restaurant with RV
For Sale
$2,600,000
29592 Highway 22, Springfield, LA 70462
Restaurant includes event space, dock access, and full-service RV accommodations.
Property Size5,044 SF
Lot Size4.89 Acres
Price / SF$515.46
Days on Market152
Property Features for 29592 Highway 22
General Information
Standard status
Active
Size
5,044 SF
Lot size
4.89 Acres
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Amenities
covered gazebo
boat dock with 9 hookups
11 RV sites with 30/50 amp power, water, and sewer
Listing Agency:
RE/MAX Partners
(985) 634-0035
Listed By:
Mike Williams · License #995696855
(985) 634-0035
Source:
Exprealty
Added: Mar 24
Changed: Aug 21
Last Checked: Aug 21 at 10:10AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This 4.885-acre waterfront property includes a 5,044-square-foot family-style restaurant and a 2,160-square-foot covered gazebo suited to private events, live music, and outdoor dining. The sale includes the furniture, fixtures, and equipment, while the restaurant operates under a water-bottom lease.
Access is available by road and water. The dock includes 9 boat hookups, and the property has 11 full-service RV sites with 30/50 amp power, water, and sewer connections. The property is approximately 7 miles from Lake Maurepas and has served as a filming location for multiple movies and television productions. The roof has a rusted exterior covering with a non-rusted sub-roof underneath.
Access is available by road and water. The dock includes 9 boat hookups, and the property has 11 full-service RV sites with 30/50 amp power, water, and sewer connections. The property is approximately 7 miles from Lake Maurepas and has served as a filming location for multiple movies and television productions. The roof has a rusted exterior covering with a non-rusted sub-roof underneath.
Key Highlights
- 5,044‑square‑foot family‑style restaurant on approximately 4.885 acres
- 2,160‑square‑foot covered gazebo for events, live music, and outdoor dining
- 9 boat hookups along the dock with access by road and water
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
$84,559
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
3.25%
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%
$1,691,180
$1.7M
Cap Rate 7%
$1,207,986
$1.2M
Cap Rate 9%
$939,544
$939.5K
Market Conditions
NOI Build-Up for 5,044 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
$113.2K $22.44/SF
− Vacancy
−$441 −$0.09/SF
EGI
$112.7K $22.35/SF
− OpEx
−$28.2K −$5.59/SF
NOI
$84.6K $16.76/SF
Area
Livingston County, LA
Vacancy
0.39%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
25.00%
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%
$1,691,180
Cap Rate 7%
$1,207,986
Cap Rate 9%
$939,544
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,559 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70462, LA
5,490
Population
3,042
Households
1.8
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
79.6 sq mi
ZIP Area
69
Density / Sq Mi
$62,520
Median Household Income
$32,195
Median Earnings
$1,393
Median Rent
$238,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant includes event space, dock access, and full-service RV accommodations.
Where is this conventional restaurant located?
The property is located at 29592 Highway 22 Springfield, LA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 5,044‑square‑foot family‑style restaurant on approximately 4.885 acres; 2,160‑square‑foot covered gazebo for events, live music, and outdoor dining; 9 boat hookups along the dock with access by road and water
