Highway 311 Mixed-Use Commercial
For Sale
$600,000
5551 Highway 311, Houma, LA 70360
Mixed-use commercial property with office, warehouse, and development potential.
Property Size3,751 SF
Price / SF$159.96
Days on Market212
Property Features for 5551 Highway 311
General Information
Standard status
Active
Size
3,751 SF
Taxes and HOA fees
Annual Taxes
$2,874
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Jill Falgout · License #52708
(985) 209-5845
Source:
Exprealty
Added: Mar 19
Changed: Oct 5
Last Checked: Oct 15 at 1:46AM
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 KELLER WILLIAMS REALTY BAYOU P
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use commercial property is primely located with high visibility along Highway 311. The site includes ample parking and open green space available for future development. The property features an 1808 square foot office space with three offices, a reception/conference area, and a kitchenette. Additionally, there is a 1943 square foot warehouse on site for storage. An existing mobile home is located on the premises and will remain; its square footage is not included in the total square footage of the property. This commercial tract offers opportunity for multi-level streams of income.
Key Highlights
- High visibility location on Highway 311.
- Mixed‑use commercial potential.
- Ample parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,289
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,780
$585.8K
Cap Rate 7%
$418,414
$418.4K
Cap Rate 9%
$325,433
$325.4K
Market Conditions
NOI Build-Up for 3,751 SF
Gross rent
$35.6K $9.48/SF
− Vacancy
−$1.1K −$0.29/SF
EGI
$34.5K $9.19/SF
− OpEx
−$5.2K −$1.38/SF
NOI
$29.3K $7.81/SF
Area
Terrebonne County, LA
Vacancy
3.10%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,780
Cap Rate 7%
$418,414
Cap Rate 9%
$325,433
Alternative Uses
Best Use
Office B
$839.9K
$734.9K – $979.9K
NOI $58,791 @ 7.0% cap · market cap 9.80%
Second Best
Warehouse
$418.4K
$366.1K – $488.2K
NOI $29,289 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.03M
$904.7K – $1.21M
NOI $72,379 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use commercial property with office, warehouse, and development potential.
Where is this mixed-use property located?
The property is located at 5551 Highway 311 Houma, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: High visibility location on Highway 311.; Mixed‑use commercial potential.; Ample parking.
