Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    0 Highway 2 Highway Homer, LA 71040

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $35,000

    Commercial lot at the intersection of State Highway 2 & US Highway 79.

    Lot size:
    2.10 Acres
    Added:
    Aug 5, 2023
    Days on Market:
    1005
    Last Refresh:
    Apr 1 at 8:33 pm

    Property Features for 0 Highway 2 Highway

    General Information

    Standard status
    Active
    Lot size
    2.10 Acres
    Property subtype
    Other

    Building Details

    Year Built
    1850

    We can help!

    Listing Contact
    Jimmy Tuggle

    Listing agent Jimmy Tuggle License #0000005126

    Listing office Century 21 Elite

    Listing date Aug 5, 2023

    Source Xome

    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 Century 21 Elite

    Overview

    2.10 Acre Commercial Lot

    This is a 2.10-acre commercial lot situated at the intersection of State Highway 2 and U S Highway 79, offering great potential in a heavy traffic area. Located on the north side of Homer, the lot benefits from frontage on two main highways. Established businesses occupy each of the other corners at this four-way intersection. Entergy has a main powerline that runs along the west side of this property.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Homer
    County
    Claiborne
    State
    Louisiana
    Longitude
    -92.9625
    Latitude
    32.7443

    Nearby Similar for Sale

    • $349,500

      Homer, LA Church and More

      Well-maintained 7200 sq ft building on 4.5 acres.
      3555 Highway 79, Homer, LA 71040
      View Details
    • $30,000

      Homer, LA - Improved Land

      One-acre cleared lot with driveway in Homer, Louisiana.
      00 North Main Street, Homer, LA 71040
      View Details
    • $275,000

      62 Acres of Unimproved Land

      62 acres of land suitable for agricultural and recreational use.
      242 Slaughter Road, Homer, LA 71040
      View Details
    • $50,000

      Homer, LA Unimproved Land

      4.37 acre land with utilities in Homer, Louisiana.
      148 Morris Lane, Homer, LA 71040
      View Details
    • $36,500

      Homer Land with Development Potential

      11.34 acres of land with development possibilities in Homer.
      0 Isaac Creek Road, Homer, LA 71040
      View Details
    • $200,000

      Former Grocery Store in Homer

      Large retail building on a 1.21-acre lot in Homer, LA.
      404 N Second Street, Homer, LA 71040
      View Details
    • $28,500

      Land For Sale in Homer

      1.62 acre land parcel suitable for residential development.
      0 Franklin Estates Road, Homer, LA 71040
      View Details
    • $99,500

      25 Acres of Land in Homer

      25 acres in Claiborne Parish, ideal for building or hunting.
      0 Harris Road, Homer, LA 71040
      View Details
    • $349,500
      7,200 SF

      Homer Church and Mobile Home

      7200 sq ft church with mobile home on 4.5 acres.
      3555 Highway 79, Homer, LA 71040
      View Details
    • $200,000
      16,533 SF

      Former Grocery Store on Large Lot

      Large 16,533 SF building on 1.21 acre lot.
      404 N Second Street, Homer, LA 71040
      View Details
    • $35,000

      2.10 Acre Commercial Lot

      Commercial lot at the intersection of State Highway 2 & US Highway 79.
      0 Highway 2 Highway, Homer, LA 71040
      View Details
    • $325,000
      17,800 SF

      Retail Space on Main Street

      Retail space for sale on Main Street in Homer.
      902 W Main St, Homer, LA 71040
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot at the intersection of State Highway 2 & US Highway 79.
    Where is this commercial land located?
    The property is located at 0 Highway 2 Highway Homer, LA.
    What is the asking price?
    The asking price for this property is $35,000.
    What are key features of this property?
    This property features: 2.10 acre commercial lot at the intersection of State Highway 2 & U.S. Highway 79; Frontage on 2 main highways; Heavy traffic area
    (318) 868-3600
    We can help!
    Listing Contact
    Jimmy Tuggle
    Real Estate License ID: 0000005126
    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
    0 Highway 2 Highway, Homer, LA 71040
    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!