Crane-Served Flex
For Sale
$1,800,000
3655 W Park Ave, Gray, LA 70359
Single-tenant industrial facility combining office accommodations, warehouse capacity, gated yard space, and direct highway access.
Property Size18,000 SF
Price / SF$100
Days on Market137
Property Features for 3655 W Park Ave
General Information
Standard status
Active
Size
18,000 SF
Total Parking Spaces
20
Property subtype
Industrial
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
13,646 SF
Office Build-Out
4,354 SF
Three-Phase Power
Yes
Additional Details
Asking Price
$1,800,000
Office Units
1
Amenities
crane serviced
3-phase power
overhead doors
gated private yard
20 Parking Spaces
Building Details
Buildings
1
Building Size
18,000 SF
Tenancy
Single
Listing Agency:
CBRE
(504) 427-2090
Listed By:
Bryce French · License #0995690959
(504) 427-2090
Source:
Lacdb.resimplifi
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 2:39PM
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 CBRE
Investment Insights
Based on property information with market context.
This single-tenant flex property combines approximately 4,354 SF of office space with 13,646 SF of warehouse area within an approximately 18,000-SF facility. The warehouse offers 22-foot clear height, crane service, 3-phase power, five overhead doors, and three 20-ton HVAC units. The site also includes 20 parking spaces and a gated private yard.
Located at 3655 W Park Avenue in Gray, Louisiana, the property provides immediate access to Louisiana Hwy 24 and a direct connection to US Highway 90, identified in the source information as Future I-49. Highway 90 is approximately 0.5 miles away, with Morgan City approximately 6.3 miles away. The facility carries I-1 Light Industrial zoning and is positioned within the stated America's Energy Corridor.
Located at 3655 W Park Avenue in Gray, Louisiana, the property provides immediate access to Louisiana Hwy 24 and a direct connection to US Highway 90, identified in the source information as Future I-49. Highway 90 is approximately 0.5 miles away, with Morgan City approximately 6.3 miles away. The facility carries I-1 Light Industrial zoning and is positioned within the stated America's Energy Corridor.
Key Highlights
- Approximately 18,000 SF single‑tenant office/warehouse facility
- 4,354 SF office area and 13,646 SF warehouse area
- 22‑foot clear height with crane service and 3‑phase power
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
$165,110
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
9.17%
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%
$3,302,200
$3.3M
Cap Rate 7%
$2,358,714
$2.4M
Cap Rate 9%
$1,834,556
$1.8M
Market Conditions
NOI Build-Up for 18,000 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
$259.2K $14.40/SF
− Vacancy
−$5.2K −$0.29/SF
EGI
$254.0K $14.11/SF
− OpEx
−$88.9K −$4.94/SF
NOI
$165.1K $9.17/SF
Area
Terrebonne County, LA
Vacancy
2.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$3,302,200
Cap Rate 7%
$2,358,714
Cap Rate 9%
$1,834,556
Alternative Uses
Best Use
Office B
$4.03M
$3.53M – $4.70M
NOI $282,123 @ 7.0% cap · market cap 15.67%
Second Best
Flex RnD
$2.36M
$2.06M – $2.75M
NOI $165,110 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$4.96M
$4.34M – $5.79M
NOI $347,328 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Office units
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Single-tenant industrial facility combining office accommodations, warehouse capacity, gated yard space, and direct highway access.
Where is this flex space located?
The property is located at 3655 W Park Ave Gray, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 18,000 SF single‑tenant office/warehouse facility; 4,354 SF office area and 13,646 SF warehouse area; 22‑foot clear height with crane service and 3‑phase power
