Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1259 St Charles St Thibodaux, LA 70301

    For Sale
    $2,400,000

    96-unit apartment complex, high cap rate

    Property size:
    92,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This 96-unit apartment building in Thibodaux, Louisiana, presents a compelling value-add investment opportunity. The property, known as St. Charles Manor Apartments, consists of ten two-story buildings totaling 92,500 square feet, situated at 1259 St. Charles St, 70301. Currently boasting 90% occupancy, the property offers a significant upside potential due to existing rents being considerably below market rate (approximately 67% under market). The asking price is $2,400,000, translating to $25,000 per unit and $25.95 per square foot. The current Net Operating Income (NOI) stands at $397,144, yielding a 16.55% cap rate. However, a pro-forma NOI of $478,900 projects a significantly higher 19.95% cap rate, reflecting the potential for increased revenue through market rent adjustments. The property features a mix of two, three, and four-bedroom units. Extensive renovations have already been completed, including new roofs across all ten buildings and major interior and exterior improvements. A dedicated leasing office and conference room are on-site, and the current management team is willing to remain. The property's strong cash flow, even at current occupancy and rental rates, makes it an attractive investment. All new roofs have been installed across the ten buildings. Please note that tenants and on-site management should not be disturbed. Further details, including an Offering Memorandum, are available upon request.

    Property Features for 1259 St Charles St

    General Information

    Property type
    Multifamily properties
    Square Feet
    92,500 SF
    Class
    B

    Building Details

    Buildings
    10
    Stories
    2
    Units
    96

    HighLights

    • $2,400,000 asking price for this 96‑unit apartment building in Thibodaux, LA.
    • Value‑add opportunity with a current 16.55% cap rate and a pro‑forma cap rate of 19.95%.
    • 92,500 square feet, priced at $25.95 per square foot.
    • 90% occupancy with a current NOI of $397,144 and a pro‑forma NOI of $478,900.
    • Ten 2‑story buildings, offering a mix of 2, 3, and 4‑bedroom units, priced at $25,000 per unit.
    • Significant upside potential due to below‑market rents; substantial rent increases are possible with minimal renovations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Thibodaux
    County
    Lafourche Parish
    State
    Louisiana
    Longitude
    -90.818236111948
    Latitude
    29.784532812399

    Nearby Similar for Sale

    • $1,750,000
      2,680 SF

      Thibodaux Apartment Complex on Acreage

      Apartment complex with single-family home and development potential on 28 acres.
      100 102 Pasture Ct, Thibodaux, LA 70301
      View Details
    • $715,000
      9,112 SF

      Thibodaux Landmark: The Ice House

      Two-story Thibodaux landmark ready for its next chapter.
      700 Saint Patrick St, Thibodaux, LA 70301
      View Details
    • $575,000
      3,037 SF

      Thibodaux Commercial Investment Opportunity

      Tenant-occupied commercial property in high-traffic shopping center, Thibodaux, LA.
      1655 St Mary St, Thibodaux, LA 70301
      View Details
    • $75,000
      360 SF

      Turnkey Beauty Shop For Sale

      Ready-to-operate beauty shop on two lots within city limits.
      1109a Caroline St, Thibodaux, LA 70301
      View Details
    • $155,000
      0.14 Acres

      Thibodaux Multifamily Investment Opportunity

      Multifamily property with single-family home and 4-plex with studio.
      244 Sanders St, Thibodaux, LA 70301
      View Details
    • $159,000
      1,104 SF

      Thibodaux Retail/Office Space For Sale

      Retail or office space on Canal Blvd in Thibodaux.
      1008 Canal Blvd, Thibodaux, LA 70301
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 96-unit apartment complex, high cap rate
    Where is this multifamily property located?
    The property is located at 1259 St Charles St Thibodaux, LA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: $2,400,000 asking price for this 96-unit apartment building in Thibodaux, LA.; Value-add opportunity with a current 16.55% cap rate and a pro-forma cap rate of 19.95%.; 92,500 square feet, priced at $25.95 per square foot.
    Request Owner's contact information
    1259 St Charles St Thibodaux, LA 70301
    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.
    1259 St Charles St
    Thibodaux, LA 70301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1259 St Charles St Thibodaux, LA 70301
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.