Metal-Build Flex
New
For Sale
$690,000
370 S Van Avenue, Houma, LA 70363
Commercial Sale, Houma, LA
Property Size9,125 SF
Lot Size1.05 Acres
Price / SF$75.62
Days on Market1
Property Features for 370 S Van Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Covered, On Street
Subdivision
Belanger Park Subdivision
Standard status
Active
Size
9,125 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Description
LOT 1 BLOCK 1 BELANGER PARK SUBDIVISION.
Legal Description
LOT 1 BLOCK 1 BELANGER PARK SUBDIVISION.
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
kitchen
Building Details
Building materials
Metal Const
Roof type
Metal
Listing Agency:
Good Earth Realty, Inc. · RE/MAX International
(985) 851-3999
Listed By:
Briana Sullivan
(985) 226-0097
Added: Sep 2
Last Checked: Sep 2 at 6:06PM
MLS# 2026016177
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,125-square-foot flex property on 1.05 acres combines a professional office area with a kitchen, loft space, and warehouse/work area. The layout also includes front parking and a covered outdoor area, creating a single facility for office functions, storage, and on-site work. Metal construction, a metal roof, central heating, and central air complete the building improvements.
The property is located at 370 S Van Avenue in Houma, Louisiana, within Terrebonne Parish. Public water and public sewer serve the site, while parking is provided through covered and on-street options. The configuration supports a range of operational setups, with zoning and permitted uses subject to buyer verification.
The property is located at 370 S Van Avenue in Houma, Louisiana, within Terrebonne Parish. Public water and public sewer serve the site, while parking is provided through covered and on-street options. The configuration supports a range of operational setups, with zoning and permitted uses subject to buyer verification.
Key Highlights
- 9,125‑square‑foot flex property on 1.05 acres
- Office area includes a kitchen and loft space
- Warehouse/work area plus covered outdoor area
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
378
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Combined office, warehouse, loft, parking, and covered outdoor areas support varied commercial operations from one location.
Where is this flex space located?
The property is located at 370 S Van Avenue 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 property on 1.05 acres; Office area includes a kitchen and loft space; Warehouse/work area plus covered outdoor area
