Listing Agency: Realty Plus LLC Show Phone

Listed By: Charlotte Word · License #995709181 Show Phone

Source: Exprealty

Added: Jul 15 Changed: Sep 5 Last Checked: Sep 5 at 11:18AM

Report an Issue

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 Realty Plus LLC

Investment Insights

Based on property information with market context.

This high-visibility commercial property offers an open-concept, open-span building designed as a flexible workspace. The site is located on a spacious, cleared lot and is presented as a blank canvas suitable for a range of commercial layouts. Utilities include city/parish water, sewer, and gas connections, with electricity serviced by Pointe Coupee Electric. The property is being sold “As-Is” with a waiver of redhibition.

The building is directly on Landry Drive (LA Hwy 77), providing highway frontage and convenient access to the I-10 corridor. It is also described as being in convenient proximity to the local U.S. Post Office.

This listing represents Lot 4 only, severed from a larger parent parcel. Prospective buyers are advised to verify intended land usage and all applicable permits and zoning guidelines with the Iberville Parish Planning & Zoning.

Key Highlights

• 1,800‑sq‑ft open‑concept commercial building on a cleared 0.40‑acre lot
• Highway frontage on Landry Dr (LA Hwy 77) with easy access to the I‑10 corridor
• City/parish water, sewer, and gas connections available; electricity serviced by Pointe Coupee Electric

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

$12,003

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

7.27%

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%

$240,060 $240.1K

Cap Rate 7%

$171,471 $171.5K

Cap Rate 9%

$133,367 $133.4K

Market Conditions

NOI Build-Up for 1,800 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

$17.5K $9.72/SF

− Vacancy

−$348 −$0.19/SF

EGI

$17.1K $9.53/SF

− OpEx

−$5.1K −$2.86/SF

NOI

$12.0K $6.67/SF

Area

Iberville County, LA

Vacancy

1.99%

Lease Rate

$9.72 /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%

$240,060

Cap Rate 7%

$171,471

Cap Rate 9%

$133,367

Alternative Uses

Best Use

Retail

$402.3K

$352.1K – $469.4K (±1% cap)

NOI $28,164 @ 7.0% cap · market cap 17.07%

Second Best

Industrial

$171.5K

$150.0K – $200.1K (±1% cap)

NOI $12,003 @ 7.0% cap · market cap 7.27%

Theoretical Best

Specialty Retail

$431.1K

$377.2K – $502.9K (±1% cap)

NOI $30,176 @ 7.0% cap · market cap 18.29%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Landry Drive Quality ... Auto Repair Shop

Suggested Use

Top Pick Building Supply Auto Parts Store Pharmacy Hair Salon Barber Shop Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Exxon Shops & Services

2,615 visits/mo 0.1 miles

Dollar General Shops & Services

2,535 visits/mo 0.1 miles

Demographics for 70757, LA

3,056

Population

1,391

Households

2.2

Avg Household Size

42

Median Age

10%

College-Educated

87%

High-School Grad

105.9 sq mi

ZIP Area

29

Density / Sq Mi

$41,477

Median Household Income

$33,420

Median Earnings

$762

Median Rent

$132,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Storefront property - Open-concept building on a cleared lot with highway frontage on LA Hwy 77 for flexible commercial use.

Where is this storefront property located?

The property is located at 77340 Landry Dr Maringouin, LA.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: 1,800‑sq‑ft open‑concept commercial building on a cleared 0.40‑acre lot; Highway frontage on Landry Dr (LA Hwy 77) with easy access to the I‑10 corridor; City/parish water, sewer, and gas connections available; electricity serviced by Pointe Coupee Electric