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    Property profile & analytics

    2510 Veterans Memorial Dr Abbeville, LA 70510

    • Lifestyle centers
    • 3,956 SF
    For Lease
    View listing
    $8 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Domino's Pizza / Take-out & Catering

    Property Details for 2510 Veterans Memorial Dr

    Property size
    3,956 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail property, located at 2510 Veterans Memorial Drive in Abbeville, Louisiana, 70510, offers a prime opportunity for businesses seeking high visibility and excellent access. The property is a single-tenant retail space within a larger shopping center, boasting a total building square footage of 3,956 square feet. Currently, 1,978 square feet are available for lease, presenting a significant opportunity for expansion or a new venture. The property benefits from its strategic location directly off Veterans Memorial Highway, ensuring high traffic volume and excellent exposure to potential customers. The area is experiencing strong growth, further enhancing the property's investment potential. A high-performing Domino's Pizza is located next door, indicating a thriving commercial environment and strong consumer traffic. This location offers a unique blend of accessibility, visibility, and a dynamic commercial neighborhood, making it an ideal space for a variety of retail businesses. The property's size and location make it suitable for a range of retail concepts, offering significant potential for growth and profitability. The available space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Abbeville
    County
    Vermilion
    State
    Louisiana
    Longitude
    -92.1067
    Latitude
    29.9764

    Comparable in this City

    • Value Estimation by Request

      3001 Veterans Memorial Dr

      Restaurants
      3001 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
    • Value Estimation by Request
      2,016 SF

      Abbeville Louisiana 70510 Veterans Memorial Dr & Odea St

      Restaurants • 2,016 SF
      Abbeville Louisiana 70510 Veterans Memorial Dr & Odea St, Abbeville, LA 70510
      View Details
    • Value Estimation by Request
      3,147 SF

      2719 Charity St

      Restaurants • 3,147 SF
      2719 Charity St, Abbeville, LA 70510
      View Details
    • Value Estimation by Request
      9,324 SF

      1530 Veterans Memorial Dr

      Individual retail properties • 9,324 SF
      1530 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
    • Value Estimation by Request
      11.12 Acres

      501 Veterans Memorial Dr

      Land • 25,000 SF
      501 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
    • Value Estimation by Request
      420.62 Acres

      000 Hwy

      Land • 420.62 Acres
      000 Hwy, Abbeville, LA 70510
      View Details

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    Similar Nearby for Lease

    • $8 SF/Yr
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      Abbeville Retail Space - Prime Location

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      Abbeville Retail Space - Prime Location

      Freestanding Retail Building, High Visibility
      1530 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
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    Abbeville, LA 70510
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    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
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