Corner Storefront
For Sale
$385,000
6861 W Park Ave, Houma, LA 70360
Open-plan retail building with available parking in a high-traffic setting.
Property Size3,668 SF
Price / SF$104.96
Days on Market56
Property Features for 6861 W Park Ave
General Information
Standard status
Active
Size
3,668 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
C2
Additional Details
Corner Location
Yes
Amenities
20 Parking Spaces
Building Details
Year Built
1983
Listing Agency:
Southern Comfort Realty & Development
Listed By:
Mike Heck · License #35214
(985) 688-8787
Source:
Lacdb.resimplifi
Added: Jul 16
Changed: Sep 8
Last Checked: Sep 7 at 1:30PM
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 Southern Comfort Realty & Development
Investment Insights
Based on property information with market context.
This 3,668-square-foot storefront property offers an open interior layout on a corner lot in West Houma. Parking is available on site, adding practical support for retail operations and customer access.
The property is situated along the parade route and may provide an additional parking-related leasing option for a purchaser. The site is located at 6861 W Park Avenue, Houma, Louisiana 70364.
The property is situated along the parade route and may provide an additional parking-related leasing option for a purchaser. The site is located at 6861 W Park Avenue, Houma, Louisiana 70364.
Key Highlights
- 3,668‑square‑foot storefront property
- Open floor plan
- Corner lot in West Houma
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
$35,310
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
9.17%
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%
$706,200
$706.2K
Cap Rate 7%
$504,429
$504.4K
Cap Rate 9%
$392,333
$392.3K
Market Conditions
NOI Build-Up for 3,668 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
$52.8K $14.40/SF
− Vacancy
−$2.4K −$0.65/SF
EGI
$50.4K $13.75/SF
− OpEx
−$15.1K −$4.13/SF
NOI
$35.3K $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%
$706,200
Cap Rate 7%
$504,429
Cap Rate 9%
$392,333
Alternative Uses
Best Use
Retail
$504.4K
$441.4K – $588.5K
NOI $35,310 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$884.7K – $1.18M
NOI $70,778 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
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- Blooming Orchid Florist — 6616 W Park Ave, Houma, LA 70364
Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan retail building with available parking in a high-traffic setting.
Where is this storefront property located?
The property is located at 6861 W Park Ave Houma, LA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 3,668‑square‑foot storefront property; Open floor plan; Corner lot in West Houma
