Mixed-Use Building with
For Sale
$399,000
9892 E Main St, Houma, LA 70363
Commercial Sale, Houma, LA
Property Size4,723 SF
Lot Size0.10 Acres
Price / SF$84.48
Days on Market1292
Property Features for 9892 E Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Rural Tract (no Subd)
Directions
Off E Main Street
Standard status
Active
Size
4,723 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
Building on property leased from the Houma-Terrebonne Airport commission Acct. A03C-42167, Lease NO DE-1-99.
Legal Description
Building on property leased from the Houma-Terrebonne Airport commission Acct. A03C-42167, Lease NO DE-1-99.
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
2
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Michelle Parsons · License #37498
(985) 226-3337
Added: Feb 17, 2023
Changed: Aug 19
Last Checked: Sep 1 at 4:06AM
MLS# 2023002806
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains 4,723 square feet, including a 733-square-foot office on the second floor above the restaurant area. Building improvements completed after Hurricane Ida include replacement of the interior and exterior AC units, a new metal roof, fresh sheetrock and paint, and new flooring. Central heating and central air are in place.
The property is located at 9892 E Main St in Houma, Louisiana, with public sewer service and natural gas available. The building sits on leased land, and the sale requires airport approval. A month-to-month tenant currently occupies the building, providing an existing occupancy arrangement for the next owner to evaluate.
The property is located at 9892 E Main St in Houma, Louisiana, with public sewer service and natural gas available. The building sits on leased land, and the sale requires airport approval. A month-to-month tenant currently occupies the building, providing an existing occupancy arrangement for the next owner to evaluate.
Key Highlights
- 4,723‑square‑foot mixed‑use building with restaurant area and office component
- 733‑square‑foot second‑floor office above the restaurant
- New metal roof, sheetrock, paint, and flooring completed after Hurricane Ida
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
$32,589
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
8.17%
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%
$651,780
$651.8K
Cap Rate 7%
$465,557
$465.6K
Cap Rate 9%
$362,100
$362.1K
Market Conditions
NOI Build-Up for 4,723 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
$56.7K $12.00/SF
− Vacancy
−$4.5K −$0.96/SF
EGI
$52.1K $11.04/SF
− OpEx
−$19.6K −$4.14/SF
NOI
$32.6K $6.90/SF
Area
Terrebonne County, LA
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$651,780
Cap Rate 7%
$465,557
Cap Rate 9%
$362,100
Alternative Uses
Best Use
Specialty Retail
$1.04M
$913.4K – $1.22M
NOI $73,070 @ 7.0% cap · market cap 18.31%
Second Best
Mixed Use
$465.6K
$407.4K – $543.2K
NOI $32,589 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,135 @ 7.0% cap · market cap 22.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Phillips 66
Shops & Services
3,762 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated building combines restaurant space with a second-floor office and central heating and cooling.
Where is this mixed-use property located?
The property is located at 9892 E Main St Houma, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 4,723‑square‑foot mixed‑use building with restaurant area and office component; 733‑square‑foot second‑floor office above the restaurant; New metal roof, sheetrock, paint, and flooring completed after Hurricane Ida
