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    Flex Space with Metal Building Title is generated by Realmo AI

    328 Progresso Road lot 5 & 6, Patterson, LA 70392

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    Claim this Listing
    New
    For Sale
    $137,000

    COMMERCIAL - Patterson, LA

    Property size:
    915 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $149/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 5:06 am

    Property Features for 328 Progresso Road lot 5 & 6

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed use
    Fencing
    Chain Link
    Standard status
    Active
    APN
    2864321172.00
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Description
    LOT 5&6 LIPARI PARK SUBD

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Water source
    Public

    Building Details

    Additional Structures
    Storage

    We can help!

    Listing Contact
    Lori Broussard

    Listing agent Lori Broussard License #0995696601

    Listing office Real Broker, LLC 300 Rue Beauregard, Unit I, Baton Rouge, LA

    Listing date Jun 3, 2026

    MLS# 2600004945 Listing URL

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

    HighLights

    • One‑acre, 2‑parcel property with a fully fenced yard and gated entrance for privacy and security
    • 915 SF metal building with solid concrete slab foundation, full kitchen, full bathroom, and laundry
    • 20 x 30 covered patio for outdoor entertaining and year‑round use
    • 30 amp hook‑up available, plus large awning for sheltered vehicle/RV/boat parking
    • Public water available; sewer service via septic tank
    • Well‑maintained limestone driveway and chain‑link fencing

    Overview

    This for-sale one-acre, two-parcel property features a metal building with a concrete slab foundation and approximately 915 square feet of interior space. The building includes a full kitchen, a full bathroom, and laundry facilities, providing a functional setup for a range of flex, workshop, studio, or live/work style uses. Outside, the property offers a covered patio measuring 20 x 30 feet, with additional sheltered area under a large awning that can support parking for vehicles and storage for an RV or boat. A 30-amp electrical hookup is available to support outdoor use, and the driveway is described as limestone. The entire acre is fenced, with a gated entrance for controlled access.

    Located in Patterson, Louisiana (St. Mary Parish), the listing is identified under mixed-use zoning. The site is positioned to support both building-based activities and outdoor storage or entertaining, with the fenced perimeter and gated entry reinforcing privacy and day-to-day usability.

    For tenants, buyers, or operators seeking a versatile property where improvements already support kitchen-and-bath functionality and covered outdoor space, this layout offers a practical combination of enclosed area and usable exterior. The two-parcel configuration and fenced, gated yard make it well-suited for owners looking for flexibility in how the site is used while keeping the main structures ready for immediate occupancy.

    Local 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 $12.6k $13.80
    − Vacancy −$2.1k −$2.28
    EGI $10.5k $11.52
    − OpEx −$2.6k −$2.88
    NOI $7.9k $8.64
    915 SF · lease $13.80/SF/yr · vacancy 16.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $113.0K
    $98.9K – $131.8K (±1% cap)
    NOI $7,908 @ 7.0% cap · market cap 5.77%
    Second Best
    Flex RnD
    $86.1K
    $75.4K – $100.5K (±1% cap)
    NOI $6,028 @ 7.0% cap · market cap 4.40%
    Theoretical Best
    Office A
    $156.1K
    $136.6K – $182.1K (±1% cap)
    NOI $10,928 @ 7.0% cap · market cap 7.98%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Patterson
    County
    St. Mary
    State
    Louisiana
    Longitude
    -91.313525
    Latitude
    29.688863

    Nearby Similar for Sale

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      View Details
    • $220,000
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      Charming Income-Generating Apartment Complex

      Four-unit apartment complex generating $2,400 monthly income.
      519 Marie St #4, Patterson, LA 70392
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    • $149,500

      Waterfront Land in River Oaks

      0.60+/- acre waterfront property in River Oaks Subdivision.
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    FAQs

    What type of property is this?
    Flex space - One-acre, two-parcel mixed-use property with a slab-on-grade metal building plus kitchen, bath, laundry, and covered patio.
    Where is this flex space located?
    The property is located at 328 Progresso Road lot 5 & 6 Patterson, LA.
    What is the asking price?
    The asking price for this property is $137,000.
    What are key features of this property?
    This property features: One‑acre, 2‑parcel property with a fully fenced yard and gated entrance for privacy and security; 915 SF metal building with solid concrete slab foundation, full kitchen, full bathroom, and laundry; 20 x 30 covered patio for outdoor entertaining and year‑round use
    (985) 519-1845
    We can help!
    Listing Contact
    Lori Broussard
    Real Estate License ID: 0995696601
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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