Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Harvey Multifamily Property with Vacant Land Title is generated by Realmo AI

    4289 Lac Saint Pierre Dr, Harvey, LA 70058

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Multi-family property in Harvey, LA with development potential.

    Type:Multifamily
    Property size:
    76,400 SF
    Price / SF:
    $32/SF
    Added:
    Feb 5, 2024
    Days on Market:
    850
    Last Refresh:
    May 12 at 9:39 pm

    Property Features for 4289 Lac Saint Pierre Dr

    General Information

    Standard status
    Active
    Size
    76,400 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Bryce Marullo

    Listing agent Bryce Marullo License #LA 995705186

    Listing office Bridgewater Realty Advisors

    Listing date Feb 5, 2024

    Source Crexi

    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 Bridgewater Realty Advisors

    HighLights

    • Opportunity to increase rental income to $1,350/month.
    • Includes 4 parcels of vacant land for building additional units.
    • Located in Harvey, LA, a highly desirable market.
    • Well‑maintained complex with a mix of 2 bed units.
    • Property amenities include a swimming pool and tennis court.
    • Each unit includes washer & dryer and ample parking is available.

    Overview

    Located in Harvey, LA, 4289-93 Lac St. Pierre Drive is a multi-family property featuring a mix of 2-bedroom, 1.5-bath units and 2-bedroom, 2-bath units. The property includes four parcels of vacant land suitable for constructing additional units. The property features a swimming pool, tennis court, in-unit washer and dryers, and ample parking for tenants. The property presents an investment opportunity with the potential to increase rental income. Market rent comparables suggest rental rates could be increased to $1,350 per month. The property is located in a market desirable to both renters and investors.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Restaurant Hair Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Accounting Firm Big Box & Wholesale Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harvey
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.044562
    Latitude
    29.843088

    Nearby Similar for Sale

    • $320,000
      3,040 SF

      Versatile Commercial Space in Harvey

      Modern office and warehouse space in a high-traffic location.
      405 TEXACO Lane, Harvey, LA 70058
      View Details
    • $7
      12,117 SF

      Warehouse with Office Buildout

      Renovated cinder block office/warehouse with multiple grade-level doors and private offices for flexible operational use.
      2579 Lester St, Harvey, LA 70058
      View Details
    • $749,000
      12,250 SF

      Office/Warehouse Space For Sale

      12,250 SF office/warehouse with shop space and mezzanine.
      1948 Industrial Blvd, Harvey, LA 70058
      View Details
    • $2,450,000

      Established Craft Distillery Business Opportunity

      Acquire a craft distillery business with valuable intellectual property.
      501 Destrehan Ave, Harvey, LA 70058
      View Details
    • $7
      9,800 SF

      Office Building with Build-to-Suit

      Quiet business park office with high clear eave height and 3-phase power, offering flexibility for qualified tenants.
      101 Pailet Dr, Harvey, LA 70058
      View Details
    • $299,000
      3,800 SF

      Harvey Warehouse with Equipment Included

      3,800 SF warehouse with equipment on 7,812 SF lot.
      3534 4th St, Harvey, LA
      View Details
    • $7
      1,250 SF

      Office Warehouse with Roll-Up Door

      Includes reception, four private offices, restroom, and a 12’ roll-up door within a business park setting.
      187 Grefer Lane, Harvey, LA 70058
      View Details
    • $130,000
      1,000 SF

      Retail Space in Harvey, LA

      Commercial space in a high-traffic shopping center.
      1525 Lapalco Blvd, Harvey, LA 70058
      View Details
    • $1,600,000
      35,471 SF

      Harvey Industrial Business Property

      Expansive property with four warehouses on 3.1 acres.
      1500 MacArthur Ave, Harvey, LA 70058
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multi-family property in Harvey, LA with development potential.
    Where is this multifamily property located?
    The property is located at 4289 Lac Saint Pierre Dr Harvey, LA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Opportunity to increase rental income to $1,350/month.; Includes 4 parcels of vacant land for building additional units.; Located in Harvey, LA, a highly desirable market.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bryce Marullo
    Real Estate License ID: LA 995705186
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4289 Lac Saint Pierre Dr, Harvey, LA 70058
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!