Listing Agency: NAI Rampart Commercial Real Estate New Orleans

Listed By: Eli Gunesebakan CCIM SIOR · License #995693810 Show Phone

Source: Lacdb.resimplifi

Added: Jun 7, 2024 Changed: Oct 19 Last Checked: Oct 19 at 3:15AM

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Investment Insights

Based on property information with market context.

This property is a waterfront industrial land parcel available for sale. The property encompasses 46,800 square feet and is located on Degravelle Rd in Morgan City, Louisiana.

Key Highlights

• Industrial waterfront property
• For sale
• Additional property details

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$146,297

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,925,940 $2.9M

Cap Rate 7%

$2,089,957 $2.1M

Cap Rate 9%

$1,625,522 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 24,300 SF

Gross rent

$180.8K $7.44/SF

− Vacancy

−$8.7K −$0.36/SF

EGI

$172.1K $7.08/SF

− OpEx

−$25.8K −$1.06/SF

NOI

$146.3K $6.02/SF

Area

St. Mary County, LA

Vacancy

4.80%

Lease Rate

$7.44 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,925,940

Cap Rate 7%

$2,089,957

Cap Rate 9%

$1,625,522

Alternative Uses

Best Use

Warehouse

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,297 @ 7.0% cap · market cap 4.88%

Second Best

Industrial

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,233 @ 7.0% cap · market cap 3.74%

Theoretical Best

Office A

$4.15M

$3.63M – $4.84M (±1% cap)

NOI $290,224 @ 7.0% cap · market cap 9.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Diamond Services Corporation Factory

Suggested Use

Top Pick HVAC Service Auto Parts Store Dental Office Carpet & Flooring Store Pharmacy Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

70

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70380, LA

21,079

Population

9,739

Households

2.2

Avg Household Size

40

Median Age

13%

College-Educated

77%

High-School Grad

77.7 sq mi

ZIP Area

271

Density / Sq Mi

$54,504

Median Household Income

$40,731

Median Earnings

$876

Median Rent

$138,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Waterfront industrial land available for sale.

Where is this warehouse located?

The property is located at 503 Degravelle Rd Morgan City, LA.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: Industrial waterfront property; For sale; Additional property details