Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land on MLK Blvd Title is generated by Realmo AI

    1885 Martin Luther King Blvd, Houma, LA 70360

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    High-traffic commercial land with utilities available on MLK Blvd.

    Type:Land
    Added:
    Feb 20, 2020
    Days on Market:
    2295
    Last Refresh:
    May 20 at 8:11 pm

    Property Features for 1885 Martin Luther King Blvd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Martin O. Miller III
    Martin O. Miller III

    Listing agent Martin O. Miller III License #LA 0000021994

    Listing office Southeast Commercial Real Estate

    Listing date Feb 20, 2020

    Source Crexi

    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 Southeast Commercial Real Estate

    HighLights

    • High‑traffic location on MLK Blvd, ideal for businesses seeking maximum exposure.
    • Utilities are available, simplifying the development process.
    • Drainage mitigation is included, reducing potential construction challenges and costs.
    • Ready to turn dirt, indicating the site is prepared for immediate construction.
    • High elevations, potentially offering better views and reduced flood risk.
    • Subdividable lots provide flexibility for various development projects (A‑4: 53,716 sf, A‑5: 35,251 sf, A‑6: 32,534 sf).

    Overview

    This commercial land is located on the west side of Martin Luther King Boulevard, near Take 5, Blue Marlin Car Wash, and Smoothie King. Utilities are available, and the property features high elevations with drainage mitigation included. The site is ready for development. The property can be subdivided, if needed, into the following lots: Lot A-4: 53,716 square feet, Lot A-5: 35,251 square feet, and Lot A-6: 32,534 square feet. The property offers frontage suitable for clients seeking high traffic exposure.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Houma
    County
    Terrebonne
    State
    Louisiana
    Longitude
    -90.8252
    Latitude
    29.5867

    Nearby Similar for Sale

    • $889,999
      4,422 SF

      Turnkey Medical Office in Houma

      Sophisticated medical office space designed for functionality and comfort.
      181 Corporate Drive, Houma, LA 70360
      View Details
    • $340,000
      5,500 SF

      High Visibility Commercial Opportunity

      Commercial building with high traffic visibility and flexible layout.
      6633 Main St, Houma, LA 70360
      View Details
    • $325,000
      4,556 SF

      Commercial Building in Houma, LA

      Commercial building with climate-controlled area and attached warehouse.
      819 Sunset Ave, Houma, LA 70360
      View Details
    • $475,000
      6,325 SF

      Downtown Waterfront Commercial Building

      6,300 SF commercial building in downtown Houma, waterfront location.
      8061 Main St, Houma, LA 70360
      View Details
    • $750,000
      3,751 SF

      Highway 311 Mixed-Use Commercial Hub

      Mixed-use commercial property with development potential on Highway 311.
      5551 Hwy 311, Houma, LA 70360
      View Details
    • $400,000
      3,150 SF

      Downtown Houma Professional Office Space

      Professional office space in downtown Houma, ideal for various services.
      628 Wood St, Houma, LA 70360
      View Details
    • $450,000
      5,136 SF

      Restaurant/Bar Opportunity in Houma, LA

      Restaurant/Bar in high-traffic area of East Houma.
      1110 Grand Caillou Road, Houma, LA 70363
      View Details
    • $7,200
      11,880 SF

      Versatile Industrial Property in Houma

      Office and warehouse space on 2 acres for sale.
      2103 Coteau Rd, Houma, LA 70364
      View Details
    • $220,000
      4,000 SF

      High Visibility Commercial Property, Houma

      Commercial property with high visibility and traffic flow in Houma.
      1500 E Tunnel Boulevard, Houma, LA 70363
      View Details
    • $725,000
      4,892 SF

      Medical Office Building For Sale

      Two-story medical office building near Terrebonne General Regional Medical Center.
      210 NEW ORLEANS Boulevard, Houma, LA 70360
      View Details
    • $275,000
      2,070 SF

      Houma Office Building For Sale

      2,070 SF office building in a high-visibility location.
      1155 Saint Charles St, Houma, LA 70360
      View Details
    • $525,000
      3,141 SF

      Houma Office Building For Sale

      Office building in high-traffic location, not in flood zone.
      4924 Hwy 311, Houma, LA 70364
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-traffic commercial land with utilities available on MLK Blvd.
    Where is this commercial land located?
    The property is located at 1885 Martin Luther King Blvd Houma, LA.
    What is the asking price?
    The asking price for this property is $2,735,132.
    What are key features of this property?
    This property features: High‑traffic location on MLK Blvd, ideal for businesses seeking maximum exposure.; Utilities are available, simplifying the development process.; Drainage mitigation is included, reducing potential construction challenges and costs.
    (504) 339-2136 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Martin O. Miller III
    Martin O. Miller III
    Real Estate License ID: LA 0000021994
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1885 Martin Luther King Blvd, Houma, LA 70360
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!