Corner Retail Strip with Dual
For Sale
$895,000
801 E Prien Lake Rd Lake Charles LA Lake Charles, Lake Charles, LA 70601
Retail strip property with stores front both Prien Lake Rd and Kirkman St, housing multiple long-term tenants.
Property Size6,476 SF
Price / SF$138.20
Days on Market787
Property Features for 801 E Prien Lake Rd Lake Charles LA Lake Charles
General Information
Standard status
Active
Size
6,476 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$3,054
Building Details
Year Built
1994
Listing Agency:
Century 21 Bono Realty
(337) 348-9711
Listed By:
Lori A Kascak · License #0912124595
(337) 348-9711
Source:
Exitrealty
Added: Jun 17, 2024
Changed: Aug 8
Last Checked: Aug 12 at 6:11AM
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 Century 21 Bono Realty
Investment Insights
Based on property information with market context.
This commercial building features retail storefronts that front both Prien Lake Rd and Kirkman St, creating dual street frontage from a corner location. The property is currently operating with three independent businesses, each supported by long-term tenants.
With access and visibility directed to two streets, the shopping center layout provides multiple storefront spaces along the primary frontages. The existing tenancy is positioned to support immediate cash flow for a purchaser.
There is also stated potential to add up to two additional businesses at the property, depending on tenanting and leasing plans. Overall, the asset presents a straightforward retail ownership opportunity with established operations and dual-front marketing exposure.
With access and visibility directed to two streets, the shopping center layout provides multiple storefront spaces along the primary frontages. The existing tenancy is positioned to support immediate cash flow for a purchaser.
There is also stated potential to add up to two additional businesses at the property, depending on tenanting and leasing plans. Overall, the asset presents a straightforward retail ownership opportunity with established operations and dual-front marketing exposure.
Key Highlights
- Commercial retail strip built in 1994
- Stores front both Prien Lake Rd and Kirkman St
- Currently occupied by long‑term tenants for immediate cash flow
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
$57,146
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
6.39%
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%
$1,142,920
$1.1M
Cap Rate 7%
$816,371
$816.4K
Cap Rate 9%
$634,956
$635.0K
Market Conditions
NOI Build-Up for 6,476 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
$85.5K $13.20/SF
− Vacancy
−$3.8K −$0.59/SF
EGI
$81.6K $12.61/SF
− OpEx
−$24.5K −$3.78/SF
NOI
$57.1K $8.82/SF
Area
Calcasieu County, LA
Vacancy
4.50%
Lease Rate
$13.20 /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%
$1,142,920
Cap Rate 7%
$816,371
Cap Rate 9%
$634,956
Alternative Uses
Best Use
Retail
$816.4K
$714.3K – $952.4K
NOI $57,146 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,713 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
401k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Apparel 25%
Shops & Services 24%
Leisure 6%
DICK'S Sporting Goods
Apparel
58,245 visits/mo
0.5 miles
McDonald's
Dining
31,650 visits/mo
0.5 miles
Kohl's
Apparel
27,013 visits/mo
0.4 miles
Cinemark Lake Charles and XD
Leisure
23,208 visits/mo
0.5 miles
Market Basket Foods
Groceries
22,498 visits/mo
0.5 miles
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
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?
Strip mall - Retail strip property with stores front both Prien Lake Rd and Kirkman St, housing multiple long-term tenants.
Where is this strip mall located?
The property is located at 801 E Prien Lake Rd Lake Charles LA Lake Charles Lake Charles, LA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Commercial retail strip built in 1994; Stores front both Prien Lake Rd and Kirkman St; Currently occupied by long‑term tenants for immediate cash flow
