Office/Warehouse Flex
New
For Sale
$690,000
370 S Van Ave, Houma, LA 70363
Combined office, warehouse, and covered outdoor areas support businesses needing workspace, storage, and on-site parking.
Property Size9,125 SF
Price / SF$75.62
Days on Market7
Property Features for 370 S Van Ave
General Information
Standard status
Active
Size
9,125 SF
Taxes and HOA fees
Annual Taxes
$25,119
Listing Agency:
Good Earth Realty, Inc.
(985) 851-3999
Listed By:
Briana Sullivan
(985) 226-0097
Source:
Exprealty
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 7 at 2:52PM
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 Good Earth Realty, Inc.
Investment Insights
Based on property information with market context.
This 9,125-square-foot flex property combines professional office space with functional areas for storage and operations. The interior includes a kitchen, loft space, and warehouse/work area, creating a single-building configuration for office administration, inventory, equipment, and day-to-day commercial activity.
Exterior features include front parking and a covered outdoor area, extending the property's usable workspace beyond the main building. The layout brings together office, storage, work, parking, and covered outdoor functions at 370 S Van Ave in Houma, Louisiana.
Exterior features include front parking and a covered outdoor area, extending the property's usable workspace beyond the main building. The layout brings together office, storage, work, parking, and covered outdoor functions at 370 S Van Ave in Houma, Louisiana.
Key Highlights
- 9,125‑square‑foot flex space with office and warehouse/work areas
- Interior kitchen and loft space
- Front parking included
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
$58,676
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
8.50%
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%
$1,173,520
$1.2M
Cap Rate 7%
$838,229
$838.2K
Cap Rate 9%
$651,956
$652.0K
Market Conditions
NOI Build-Up for 9,125 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
$86.5K $9.48/SF
− Vacancy
−$2.7K −$0.29/SF
EGI
$83.8K $9.19/SF
− OpEx
−$25.1K −$2.76/SF
NOI
$58.7K $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 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%
$1,173,520
Cap Rate 7%
$838,229
Cap Rate 9%
$651,956
Alternative Uses
Best Use
Office B
$2.04M
$1.79M – $2.38M
NOI $143,021 @ 7.0% cap · market cap 20.73%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,702 @ 7.0% cap · market cap 12.13%
Theoretical Best
Office A
$2.52M
$2.20M – $2.93M
NOI $176,076 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office, warehouse, and covered outdoor areas support businesses needing workspace, storage, and on-site parking.
Where is this flex space located?
The property is located at 370 S Van Ave Houma, LA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 9,125‑square‑foot flex space with office and warehouse/work areas; Interior kitchen and loft space; Front parking included
