Listing Agency: Good Earth Realty, Inc. Show Phone

Listed By: Briana Sullivan · License #995717403 Show Phone

Source: Exprealty

Added: Sep 2 Changed: Oct 21 Last Checked: Oct 23 at 7:04AM

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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.

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 / Yr

$58,676

Cap Rate

9.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,173,520 $1.2M

Cap Rate 7%

$838,229 $838.2K

Cap Rate 9%

$651,956 $652.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,125 SF

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 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 (±1% cap)

NOI $143,021 @ 7.0% cap · market cap 22.04%

Second Best

Flex RnD

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,702 @ 7.0% cap · market cap 12.90%

Theoretical Best

Office A

$2.52M

$2.20M – $2.93M (±1% cap)

NOI $176,076 @ 7.0% cap · market cap 27.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Real Estate Agency Parking Lot & Garage Law Firm Gym & Fitness Center Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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 $649,000.

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