Four-Property Multifamily
For Sale
$500,000
37343 & 37355 La Hwy 621, Prairieville, LA 70769
COMMERCIAL - Prairieville, LA
Property Size5,000 SF
Lot Size1.25 Acres
Price / SF$100
Days on Market49
Property Features for 37343 & 37355 La Hwy 621
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Rural Tract (no Subd)
Standard status
Active
Size
5,000 SF
Lot size
1.25 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Roof type
Composition
Listing Agency:
Realty Executives South Louisiana Group · Realty Executives International
(225) 677-7772
Listed By:
Erin King · License #0995695277
(225) 681-0161
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 2026011665
Copyright © 2026 Greater Baton Rouge Association 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 multifamily package comprises four single-wide residences with a combined property size of 5,000 square feet on 1.25 acres. The homes are located at four separate addresses, including three along LA Hwy 621 and one on Slalom Way.
Each property is served by public water and public sewer. Heating is provided by heat pumps, cooling is supplied through window units, and the roofs are composition shingle. The package is situated in Prairieville, Ascension Parish, Louisiana.
Each property is served by public water and public sewer. Heating is provided by heat pumps, cooling is supplied through window units, and the roofs are composition shingle. The package is situated in Prairieville, Ascension Parish, Louisiana.
Key Highlights
- Four‑property package of single‑wide residences
- Combined property size of 5,000 square feet
- 1.25 acres total lot 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
$22,997
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
4.60%
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%
$459,940
$459.9K
Cap Rate 7%
$328,529
$328.5K
Cap Rate 9%
$255,522
$255.5K
Market Conditions
NOI Build-Up for 5,000 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
$52.2K $10.44/SF
− Vacancy
−$10.4K −$2.08/SF
EGI
$41.8K $8.36/SF
− OpEx
−$18.8K −$3.76/SF
NOI
$23.0K $4.60/SF
Area
Ascension County, LA
Vacancy
19.90%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
45.00%
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%
$459,940
Cap Rate 7%
$328,529
Cap Rate 9%
$255,522
Alternative Uses
Best Use
Apartment 5plus
$328.5K
$287.5K – $383.3K
NOI $22,997 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$960.0K – $1.28M
NOI $76,800 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 70769, LA
46,671
Population
17,557
Households
2.7
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
47.9 sq mi
ZIP Area
974
Density / Sq Mi
$114,707
Median Household Income
$59,552
Median Earnings
$1,245
Median Rent
$295,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Portfolio includes four single-wide residences with public water and sewer service.
Where is this multifamily property located?
The property is located at 37343 & 37355 La Hwy 621 Prairieville, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four‑property package of single‑wide residences; Combined property size of 5,000 square feet; 1.25 acres total lot area
