Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2540 Miller Ave Westlake, LA 70669

    • Commercial real estate
    • 4,500 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • American Legion / Volunteer Organization / Community Center
    • ATM (ATM Link, Inc.) / Atm

    Property Details for 2540 Miller Ave

    Year built
    2002
    Property size
    4,500 SF
    Property type
    Commercial real estate

    Description

    This exceptional 4,500 square foot commercial property located at 2540 Miller Avenue Unit 2540, Westlake, LA, presents a remarkable investment opportunity. Previously utilized as an American Legion building, its adaptable layout offers a wide range of potential uses. The expansive main room is perfect for large gatherings, meetings, or events, while a fully equipped kitchen, featuring a Vulcan 6-burner stove, is ready for immediate use. Three bathrooms provide ample convenience. Six additional rooms offer flexibility for offices, storage, or customized spaces to meet specific business needs. A fully functional bar area, complete with a walk-in cooler and service area, and all existing equipment, is included in the sale. An additional storage building, previously used as an outdoor kitchen, provides extra space. The property boasts ample parking, ensuring convenient access for customers and employees. All measurements are approximate. This unique property is priced at $299,950 and offers an exceptional chance to acquire a versatile commercial space with significant potential. Don't miss this opportunity to own a substantial building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    County
    Calcasieu
    State
    Louisiana
    Longitude
    -93.2445
    Latitude
    30.2659

    Comparable in this City

    • Value Estimation by Request

      1415 Beech St

      COMMERCIAL (GENERAL)
      1415 Beech St, Westlake, LA 70669-4101
      View Details
    • Value Estimation by Request

      533 Miller Ave

      COMMERCIAL (GENERAL)
      533 Miller Ave, Westlake, LA 70669
      View Details
    • Value Estimation by Request

      1604 Mckinley St

      COMMERCIAL (GENERAL)
      1604 Mckinley St, Westlake, LA 70669-4926
      View Details
    • Value Estimation by Request

      1101 Mckinley St

      COMMERCIAL (GENERAL)
      1101 Mckinley St, Westlake, LA 70669-5009
      View Details
    • Value Estimation by Request
      2.18 Acres

      500 Miller Ave

      COMMERCIAL (GENERAL) • 2.18 Acres
      500 Miller Ave, Westlake, LA 70669
      View Details
    • Value Estimation by Request

      1109 Mckinley St

      COMMERCIAL (GENERAL)
      1109 Mckinley St, Westlake, LA 70669-5009
      View Details

    Similar Nearby for Sale

    • $52,000
      0.15 Acres

      Westlake Land Near Golf Course

      Cleared lot in premier golf community with stunning golf course views.
      1773 Pelican Dr, Westlake, LA 70669
      View Details
    • Contact for pricing
      0.45 Acres

      Cleared Land Ready to Build

      Cleared lot near schools, shopping, and future water park.
      Nichols Rd, Westlake, LA 70669
      View Details
    • $174,900
      0.40 Acres

      Riverfront Land in Westlake, Louisiana

      Cleared lot with water views, ready for construction.
      3939 River Moss Ln, Westlake, LA 70669
      View Details
    • $72,500
      1.21 Acres

      Westlake Wooded Residential Corner Lot

      1.21-acre wooded corner lot in Westlake, Louisiana, for residential development.
      2001 Green Forest Rd, Westlake, LA 70669
      View Details
    • Contact for pricing
      0.21 Acres

      Cleared Lot in Westlake, LA

      Cleared lot ready for a new home in a quiet neighborhood.
      2203 Alford Rd, Westlake, LA 70669
      View Details
    • $52,000
      0.15 Acres

      Westlake Cleared Lot Near Golf

      Cleared lot in Westlake, LA, near golf course and amenities.
      1765 Pelican Dr, Westlake, LA 70669
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      143,748 SF

      Westlake Vacant Land For Lease

      Versatile light industrial-zoned vacant land available for lease in Westlake.
      3932 Houston River Rd, Westlake, LA 70669
      View Details
    • Contact for pricing

      Westlake Office/Warehouse Prime Location

      Office/warehouse in Westlake, near Horseshoe Casino Resort, easy highway access.
      523 Miller Ave, Westlake, LA 70669
      View Details
    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.
    2540 Miller Ave
    Westlake, LA 70669
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!