Corner Storefront
For Sale
$385,000
6861 W Park Avenue, Houma, LA 70364
Open-plan retail building with available parking in a high-traffic setting.
Property Size3,668 SF
Price / SF$104.96
Days on Market27
Property Features for 6861 W Park Avenue
General Information
Standard status
Active
Size
3,668 SF
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$2,692
Listing Agency:
HECK REALTY, INC.
(985) 688-8787
Listed By:
Mike Heck · License #35214
(985) 688-8787
Source:
Exprealty
Added: Jul 16
Changed: Aug 11
Last Checked: Aug 11 at 4:34AM
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 HECK REALTY, INC.
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 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?
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 Avenue 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
