Mixed-Use Property with
For Sale
$299,000
824 Main St, Franklin, LA 70538
Remodeled residence paired with flexible commercial space, creating a practical live-work configuration with Main Street frontage.
Property Size3,000 SF
Price / SF$99.67
Days on Market222
Property Features for 824 Main St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
5
Property subtype
Other
Zoning
C-N Neighborhood Commercial Zone
Additional Details
Corner Location
Yes
Amenities
wood-burning fireplace
patio doors
walk in cooler
new electrical panel
large store front window display
Water
Sewer
Natural Gas
5 Parking Spaces
Building Details
Year Built
1920
Listing Agency:
eXp Realty Lafayette
(337) 578-0034
Listed By:
Molli Rodriguez · License #0995687819
(337) 578-0034
Source:
Lacdb.resimplifi
Added: Jan 20
Changed: Aug 29
Last Checked: Aug 30 at 1:00PM
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 eXp Realty Lafayette
Investment Insights
Based on property information with market context.
This mixed-use property combines an updated residence with an attached commercial building. The home includes three bedrooms, two full bathrooms, two living areas, stainless steel kitchen appliances, a gas stovetop, and a wood-burning fireplace. Recent improvements include electrical rewiring, PEX plumbing, and a metal roof. The residence also offers a two-car covered parking area and a storage shed.
The approximately 1,200-square-foot commercial component is currently used as a flower shop and is arranged into three functional areas. A large storefront display window, walk-in cooler, updated electrical panel, and new wiring are in place. The property occupies a corner lot with Main Street frontage in Franklin and is zoned C-N Neighborhood Commercial Zone. Built in 1920, the property offers an established live-work layout with both residential and commercial components.
The approximately 1,200-square-foot commercial component is currently used as a flower shop and is arranged into three functional areas. A large storefront display window, walk-in cooler, updated electrical panel, and new wiring are in place. The property occupies a corner lot with Main Street frontage in Franklin and is zoned C-N Neighborhood Commercial Zone. Built in 1920, the property offers an established live-work layout with both residential and commercial components.
Key Highlights
- Approximately 1,200 SF attached commercial building
- Three‑bedroom, two‑bath residence with two living areas
- C‑N Neighborhood Commercial Zone
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
$25,927
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
8.67%
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%
$518,540
$518.5K
Cap Rate 7%
$370,386
$370.4K
Cap Rate 9%
$288,078
$288.1K
Market Conditions
NOI Build-Up for 3,000 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
$41.4K $13.80/SF
− Vacancy
−$6.8K −$2.28/SF
EGI
$34.6K $11.52/SF
− OpEx
−$8.6K −$2.88/SF
NOI
$25.9K $8.64/SF
Area
St. Mary County, LA
Vacancy
16.50%
Lease Rate
$13.80 /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%
$518,540
Cap Rate 7%
$370,386
Cap Rate 9%
$288,078
Alternative Uses
Best Use
Office B
$370.4K
$324.1K – $432.1K
NOI $25,927 @ 7.0% cap · market cap 8.67%
Second Best
Retail
$313.6K
$274.4K – $365.9K
NOI $21,953 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$511.9K
$447.9K – $597.2K
NOI $35,830 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 70538, LA
12,604
Population
6,428
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
85%
High-School Grad
229.9 sq mi
ZIP Area
55
Density / Sq Mi
$55,662
Median Household Income
$36,436
Median Earnings
$860
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Remodeled residence paired with flexible commercial space, creating a practical live-work configuration with Main Street frontage.
Where is this mixed-use property located?
The property is located at 824 Main St Franklin, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 1,200 SF attached commercial building; Three‑bedroom, two‑bath residence with two living areas; C‑N Neighborhood Commercial Zone
