Listing Agency: KELLER WILLIAMS REALTY BAYOU P b***@kw.com Show Phone

Listed By: Jill Falgout · License #52708 Show Phone

Source: Exprealty

Added: Mar 19 Changed: Oct 30 Last Checked: Nov 1 at 9:30AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use commercial property at 5551 Hwy 311 includes 1,808 SF of office space and a 1,943 SF warehouse. The office layout has three private offices, a reception and conference area, and a kitchenette. A mobile home will remain on the premises; its area is excluded from the stated total square footage.

Open green space and parking are also present. The property is along Highway 311 near St. Charles Street.

Key Highlights

• 1,808 SF of office space with three offices, reception and conference area, and kitchenette
• 1,943 SF warehouse provides on‑site storage
• Mobile home remains on the premises; its area is excluded from the total square footage

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

Is this asking price fair?

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 (±1% cap)

NOI $58,791 @ 7.0% cap · market cap 9.80%

Second Best

Warehouse

$418.4K

$366.1K – $488.2K (±1% cap)

NOI $29,289 @ 7.0% cap · market cap 4.88%

Theoretical Best

Office A

$1.03M

$904.7K – $1.21M (±1% cap)

NOI $72,379 @ 7.0% cap · market cap 12.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Gym & Fitness Center Parking Lot & Garage Kitchen & Bath Showroom Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Office space, warehouse storage, a mobile home, and open land are included on the Highway 311 tract.

Where is this mixed-use property located?

The property is located at 5551 Hwy 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: 1,808 SF of office space with three offices, reception and conference area, and kitchenette; 1,943 SF warehouse provides on‑site storage; Mobile home remains on the premises; its area is excluded from the total square footage