Building Details

Year Built 1913

Listing Agency: Craft Realty

Listed By: Elizabeth Laurent Show Phone

Source: Lacdb.resimplifi

Added: Sep 9 Changed: Sep 17 Last Checked: Sep 18 at 3:52AM

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Investment Insights

Based on property information with market context.

This 5,823-square-foot Colonial Revival estate, built in 1913, occupies approximately 5.3 acres and is listed on the National Register of Historic Places. The residence retains original wood floors, stained glass, millwork, chandeliers, and other period architectural details. Its kitchen includes a Thermador Professional gas range, Sub-Zero refrigerator, pizza oven, fryer, steamer, pot filler, and butler’s pantry.

The property also includes a heated gunite pool with spa and a 24x30 barn with a half bath and 12' lean-to. Identified as a Christmas tree farm and event venue with bed-and-breakfast potential, the estate is zoned Residential and located just minutes from I-49 and LA HWY 71.

Key Highlights

• Approximately 5.3‑acre Christmas tree farm with historic estate
• 5,823‑square‑foot Colonial Revival estate built in 1913
• Listed on the National Register of Historic Places

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

$35,266

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

5.36%

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%

$705,320 $705.3K

Cap Rate 7%

$503,800 $503.8K

Cap Rate 9%

$391,844 $391.8K

Market Conditions

NOI Build-Up for 5,823 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

$87.3K $15.00/SF

− Vacancy

−$13.1K −$2.25/SF

EGI

$74.2K $12.75/SF

− OpEx

−$39.0K −$6.69/SF

NOI

$35.3K $6.06/SF

Area

Rapides County, LA

Vacancy

15.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

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%

$705,320

Cap Rate 7%

$503,800

Cap Rate 9%

$391,844

Alternative Uses

Best Use

Hotel Hospitality

$503.8K

$440.8K – $587.8K (±1% cap)

NOI $35,266 @ 7.0% cap · market cap 5.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.61M

$1.40M – $1.87M (±1% cap)

NOI $112,361 @ 7.0% cap · market cap 17.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Sugar Mill Fields Specialty Food Shop

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 71346, LA

2,598

Population

1,424

Households

1.8

Avg Household Size

45

Median Age

21%

College-Educated

89%

High-School Grad

91.8 sq mi

ZIP Area

28

Density / Sq Mi

$46,056

Median Household Income

$28,787

Median Earnings

$712

Median Rent

$174,000

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Farm - National Register estate with a chef’s kitchen, pool and spa, barn, and grounds suited to multiple hospitality-oriented concepts.

Where is this farm located?

The property is located at 56 Meeker Rd Lecompte, LA.

What is the asking price?

The asking price for this property is $658,000.

What are key features of this property?

This property features: Approximately 5.3‑acre Christmas tree farm with historic estate; 5,823‑square‑foot Colonial Revival estate built in 1913; Listed on the National Register of Historic Places