Houma Shopping Center For
For Sale
Contact for pricing
6062 W Park Ave, Houma, LA 70364
Shopping center with established restaurant and value-add potential.
Property Size10,600 SF
Price / SF$131.60
Days on Market188
Property Features for 6062 W Park Ave
General Information
Standard status
Active
Size
10,600 SF
Total Parking Spaces
20
Property subtype
Retail
Investment Type
Value Add
Building Details
Buildings
2
Stories
1
Listing Agency:
NAI Rampart
Listed By:
Betty Pei Ching Sun · License #LA 0995680489
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 12 at 5:12AM
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 NAI Rampart
Investment Insights
Based on property information with market context.
This property features a shopping center with income-generating tenants. It includes an Asian restaurant that has been established for over 30 years, located near Southland Mall in Houma. The restaurant has approximately 3,200 square feet, including a large kitchen and a private banquet facility. The dining room seats approximately 75 people, and the private banquet facility seats approximately 50. In addition to the restaurant, there are three vacant units of approximately 1,000 square feet each, two larger vacant units of approximately 1,800 to 2,000 square feet each, and a smaller unit with approximately 800 square feet. These vacant units present a value-add opportunity to generate additional income. The total property size is 10,600 square feet. The properties are being offered as a Sale and Leaseback or Business only (Hong Kong Restaurant).
Key Highlights
- Established income‑generating tenants, including a 30+ year Asian restaurant
- High‑traffic location near Southland Mall in Houma
- Value‑add opportunity with multiple vacant units for lease (approx. 6,600 SF total)
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
$102,040
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
7.31%
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%
$2,040,800
$2.0M
Cap Rate 7%
$1,457,714
$1.5M
Cap Rate 9%
$1,133,778
$1.1M
Market Conditions
NOI Build-Up for 10,600 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
$152.6K $14.40/SF
− Vacancy
−$6.9K −$0.65/SF
EGI
$145.8K $13.75/SF
− OpEx
−$43.7K −$4.13/SF
NOI
$102.0K $9.63/SF
Area
Terrebonne County, LA
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,040,800
Cap Rate 7%
$1,457,714
Cap Rate 9%
$1,133,778
Alternative Uses
Best Use
Specialty Retail
$2.34M
$2.05M – $2.73M
NOI $163,993 @ 7.0% cap · market cap 11.76%
Second Best
Retail
$1.46M
$1.28M – $1.70M
NOI $102,040 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,538 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70364, LA
29,559
Population
12,423
Households
2.4
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
42.2 sq mi
ZIP Area
700
Density / Sq Mi
$68,909
Median Household Income
$36,164
Median Earnings
$1,004
Median Rent
$195,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with established restaurant and value-add potential.
Where is this shopping center located?
The property is located at 6062 W Park Ave Houma, LA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Established income‑generating tenants, including a 30+ year Asian restaurant; High‑traffic location near Southland Mall in Houma; Value‑add opportunity with multiple vacant units for lease (approx. 6,600 SF total)
