Freestanding Meat Market
For Sale
$1,450,000
730 Corporate Drive, Houma, LA 70360
Commercial Sale, Houma, LA
Property Size5,448 SF
Lot Size1.06 Acres
Price / SF$266.15
Days on Market564
Property Features for 730 Corporate Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Security features
Security System
Exterior features
Door Sign, Pole Sign, Roof Sign
Accessibility
Accessible Approach with Ramp
Subdivision
Commercial Park
Standard status
Active
Size
5,448 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Description
TRACT C-2-A7, 3040 COMMERCIAL PARK SUBD.
Legal Description
TRACT C-2-A7, 3040 COMMERCIAL PARK SUBD.
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Natural gas generator
Building Details
Flooring type
Concrete, Tile - Ceramic
Building materials
Brick, Metal Const
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Melanie Rogers Bruce · License #37498
(985) 790-9205
Added: Feb 11, 2025
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# 2025002456
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2018, this 5,003-square-foot meat market and restaurant occupies 1.059 acres and combines customer-facing, food-production, and administrative areas. The interior includes 1,923 square feet of shop and seating space, 2,017 square feet devoted to kitchen and preparation functions, a 445-square-foot office with a private restroom, a 324-square-foot smoke room, and 294 square feet of additional interior area. A further 1,852 square feet of covered outdoor space is not included in the gross building area.
The property is positioned just off Martin Luther King Blvd. in Houma’s retail corridor, which serves four parishes and the Terrebonne area. Site improvements include 28,816 square feet of concrete parking and drive-thru area with 38 parking spaces. A natural gas generator is also installed, while the property has public water and public sewer service.
The property is positioned just off Martin Luther King Blvd. in Houma’s retail corridor, which serves four parishes and the Terrebonne area. Site improvements include 28,816 square feet of concrete parking and drive-thru area with 38 parking spaces. A natural gas generator is also installed, while the property has public water and public sewer service.
Key Highlights
- 5,003 SF meat market and restaurant completed in 2018
- 1.059‑acre site with 28,816 SF of concrete parking and drive‑thru area
- Interior includes 1,923 SF of shop/seating and 2,017 SF of kitchen/prep space
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
$84,286
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
5.81%
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%
$1,685,720
$1.7M
Cap Rate 7%
$1,204,086
$1.2M
Cap Rate 9%
$936,511
$936.5K
Market Conditions
NOI Build-Up for 5,448 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
$117.7K $21.60/SF
− Vacancy
−$5.3K −$0.97/SF
EGI
$112.4K $20.63/SF
− OpEx
−$28.1K −$5.16/SF
NOI
$84.3K $15.47/SF
Area
Terrebonne County, LA
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,685,720
Cap Rate 7%
$1,204,086
Cap Rate 9%
$936,511
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,286 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$749.2K
$655.6K – $874.1K
NOI $52,445 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,125 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grand Buffet — 1779 Martin Luther King Blvd Suite 200, Houma, LA 70360
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Recently constructed facility combines customer service, food preparation, office, smoke room, and covered outdoor areas.
Where is this conventional restaurant located?
The property is located at 730 Corporate Drive Houma, LA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 5,003 SF meat market and restaurant completed in 2018; 1.059‑acre site with 28,816 SF of concrete parking and drive‑thru area; Interior includes 1,923 SF of shop/seating and 2,017 SF of kitchen/prep space
