Waterfront Industrial Site on
For Sale
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115 Menard Rd, Houma, LA 70363
31.05 acre industrial site with 2,220 lf waterfrontage.
Property Size43,278 SF
Lot Size31.05 Acres
Price / SF$113.22
Days on Market1879
Property Features for 115 Menard Rd
General Information
Standard status
Active
Size
43,278 SF
Lot size
31.05 Acres
Property subtype
Industrial
Listing Agency:
CBRE New Orleans
Listed By:
Bryce French · License #LA 0995690959
(504) 733-4555
Source:
Crexi
Added: Jul 23, 2021
Changed: Sep 2
Last Checked: Sep 13 at 7:58AM
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 CBRE New Orleans
Investment Insights
Based on property information with market context.
This industrial site encompasses 31.05 acres, situated between Bayou Dularge and Menard Road along the Intracostal Waterway. The property consists of two detached parcels. The primary parcel is located on the east side of Bayou Dularge Road and the north side of Menard Road. The secondary parcel is positioned on the north side of Menard Road at its eastern termination. The site is suitable for waterfront industrial businesses. It features one slip with over 2,220 linear feet of water frontage, including approximately 800 feet of bulkhead. Improvements include 43,278 square feet of buildings.
Key Highlights
- 31.05 (+/-) acre industrial site on the Intracostal Waterway.
- Boasting over 2,220 lf of water frontage.
- Includes one slip.
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
$278,290
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
5.68%
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%
$5,565,800
$5.6M
Cap Rate 7%
$3,975,571
$4.0M
Cap Rate 9%
$3,092,111
$3.1M
Market Conditions
NOI Build-Up for 43,278 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
$410.3K $9.48/SF
− Vacancy
−$12.7K −$0.29/SF
EGI
$397.6K $9.19/SF
− OpEx
−$119.3K −$2.76/SF
NOI
$278.3K $6.43/SF
Area
Terrebonne County, LA
Vacancy
3.10%
Lease Rate
$9.48 /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%
$5,565,800
Cap Rate 7%
$3,975,571
Cap Rate 9%
$3,092,111
Alternative Uses
Best Use
Industrial
$3.98M
$3.48M – $4.64M
NOI $278,290 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.93M
$10.44M – $13.92M
NOI $835,092 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Industrial property - 31.05 acre industrial site with 2,220 lf waterfrontage.
Where is this industrial property located?
The property is located at 115 Menard Rd Houma, LA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 31.05 (+/-) acre industrial site on the Intracostal Waterway.; Boasting over 2,220 lf of water frontage.; Includes one slip.
