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    5977 Park Ave Houma, LA 70364

    For Sale
    $275,000

    Former bank, 3,982 SF, high traffic area

    Property size:
    3,982 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 3,982 square foot former bank branch presents a unique redevelopment opportunity in Houma, Louisiana. Situated on a 0.16-acre lot (7,000 square feet) at 5977 W Park Ave, this property boasts 100 feet of frontage on heavily trafficked W. Park Avenue (Highway 24), an outparcel to the Southland Mall. The C-2 General Commercial zoning allows for diverse uses, including restaurant, QSR, or retail. With an asking price of $275,000 ($69.06/SF), this value-add investment benefits from high visibility and exceptional access. Daily traffic counts on W. Park Avenue and W. Main Street exceed 20,000 vehicles. The property is currently vacant, offering immediate occupancy and flexibility for your vision. The single-story building presents a blank canvas for adaptive reuse, capitalizing on its prime location and substantial frontage. This is an ideal opportunity for investors seeking a high-impact retail space in a thriving commercial corridor. The property's location near the Southland Mall ensures high foot traffic and visibility, making it an attractive proposition for a variety of businesses. The APN is 4208. Don't miss this chance to acquire a strategically located property with significant redevelopment potential.

    Property Features for 5977 Park Ave

    General Information

    Property type
    Restaurants
    Square Feet
    3,982 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • 3,982 SF building on a 0.16‑acre lot.
    • 100 feet of frontage on heavily trafficked W. Park Avenue (Highway 24).
    • Outparcel to Southland Mall in Houma, LA.
    • C‑2 General Commercial zoning.
    • Over 20,000 vehicles per day on W. Park Avenue and W. Main Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chase Mortgage Mortgage Lender Chase Bank Bank

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houma
    County
    Terrebonne Parish
    State
    Louisiana
    Longitude
    -90.7575514
    Latitude
    29.633321

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    FAQs

    What type of property is this?
    Restaurant - Former bank, 3,982 SF, high traffic area
    Where is this restaurant located?
    The property is located at 5977 Park Ave Houma, LA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: 3,982 SF building on a 0.16-acre lot.; 100 feet of frontage on heavily trafficked W. Park Avenue (Highway 24).; Outparcel to Southland Mall in Houma, LA.
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    5977 Park Ave Houma, LA 70364
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    Houma, LA 70364
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    Realmo Value Estimation

    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.

    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.

    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
    5977 Park Ave Houma, LA 70364
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