Restaurant and Classroom
For Sale
$499,000
432 Michigan Ave, Sulphur, LA 70663
For sale on approximately 1.41 acres with a fully equipped commercial kitchen and a separate three-room classroom building.
Property Size6,500 SF
Lot Size1.41 Acres
Price / SF$76.77
Days on Market98
Property Features for 432 Michigan Ave
General Information
Standard status
Active
Size
6,500 SF
Lot size
1.41 Acres
Additional Details
Grease Trap
Yes
Building Details
Year Built
1980
Listing Agency:
Kairos Realty
Listed By:
Ellen Monroe · License #995703519
(337) 794-5992
Source:
Athomerealtyla
Added: Jul 16
Changed: Oct 13
Last Checked: Oct 7 at 4:31PM
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 Kairos Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This unique property is offered for sale and is positioned on approximately 1.41 acres. The main building includes a fully equipped commercial kitchen with a dishwasher, sink, grease trap, stove, and additional kitchen components, along with an expansive assembly area suitable for meetings, events, or other multipurpose use. A covered overhang leads into the main building, and the property provides ample gravel parking.
The site also includes a separate building with three classroom-style rooms and a restroom, which can support additional office, training, or other permitted uses subject to verification. Buyer to verify zoning, use restrictions, and measurements.
The site also includes a separate building with three classroom-style rooms and a restroom, which can support additional office, training, or other permitted uses subject to verification. Buyer to verify zoning, use restrictions, and measurements.
Key Highlights
- Approximately 1.41‑acre property in Sulphur with ample gravel parking and covered overhang entry
- Fully equipped commercial kitchen includes dishwasher, sink, grease trap, and stove
- Expansive main assembly area for meetings, events, or multipurpose use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,201
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,020
$804.0K
Cap Rate 7%
$574,300
$574.3K
Cap Rate 9%
$446,678
$446.7K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$61.6K $9.48/SF
− Vacancy
−$4.2K −$0.64/SF
EGI
$57.4K $8.84/SF
− OpEx
−$17.2K −$2.65/SF
NOI
$40.2K $6.18/SF
Area
Calcasieu County, LA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,020
Cap Rate 7%
$574,300
Cap Rate 9%
$446,678
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.63M
NOI $98,075 @ 7.0% cap · market cap 19.65%
Second Best
Industrial
$574.3K
$502.5K – $670.0K
NOI $40,201 @ 7.0% cap · market cap 8.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
103k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 60%
Shops & Services 24%
Dining 11%
Electronics 4%
Kroger
Groceries
41,707 visits/mo
0.3 miles
Market Basket Foods
Groceries
19,732 visits/mo
0.3 miles
Chase Bank
Shops & Services
7,300 visits/mo
0.3 miles
Shell
Shops & Services
4,796 visits/mo
0.2 miles
AT&T
Electronics
4,476 visits/mo
0.3 miles
Demographics for 70663, LA
29,325
Population
12,767
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
97.8 sq mi
ZIP Area
300
Density / Sq Mi
$59,444
Median Household Income
$37,587
Median Earnings
$914
Median Rent
$174,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
School - For sale on approximately 1.41 acres with a fully equipped commercial kitchen and a separate three-room classroom building.
Where is this school located?
The property is located at 432 Michigan Ave Sulphur, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 1.41‑acre property in Sulphur with ample gravel parking and covered overhang entry; Fully equipped commercial kitchen includes dishwasher, sink, grease trap, and stove; Expansive main assembly area for meetings, events, or multipurpose use
