Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1556 Martin Luther King Jr Blvd Houma, LA 70360
    Back to Search
    Property profile & analytics

    1556 Martin Luther King Jr Blvd, Houma, LA 70360

    View on Map
    • Retail properties & Spaces
    • 8,031 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1556 Martin Luther King Jr Blvd

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This 8,031-square-foot Class A retail outparcel is located within the Houma Power Center, a 98,586-square-foot shopping center situated on Martin Luther King Jr. Blvd, a major retail thoroughfare in Houma, Louisiana. The property is a single-tenant space currently vacant, offering significant potential. The center boasts established national tenants including Northern Tool, Old Navy, and 2nd & Charles, and enjoys a high-traffic location adjacent to Lowe's Home Improvement and directly across from a Walmart Supercenter. The area also features a diverse mix of restaurants, retailers, fitness centers, service providers, and hotels, ensuring high visibility and customer traffic. The landlord is open to redevelopment options, including subdividing the space into three smaller units and adding a drive-thru lane, providing flexibility for potential tenants. This presents a unique opportunity to establish a presence in a vibrant retail environment with strong anchor tenants and significant growth potential. The property's address is 1556 Martin Luther King Jr Blvd, Houma, LA 70360. Further details regarding potential subdivision plans are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Houma
    County
    Terrebonne
    State
    Louisiana
    Longitude
    -90.7479
    Latitude
    29.6086

    Comparable in this City

    • Value Estimation by Request
      19,160 SF

      1437 St Charles St

      Lifestyle centers
      1437 St Charles St, Houma, LA 70360
      View Details
    • Value Estimation by Request
      14,820 SF

      1415 St Charles St

      Individual retail properties
      1415 St Charles St, Houma, LA 70360
      View Details
    • Value Estimation by Request
      27,458 SF

      1740 Martin Luther King Blvd

      Individual retail properties
      1740 Martin Luther King Blvd, Houma, LA 70360
      View Details
    • Value Estimation by Request

      1779 Martin Luther King Jr Blvd Ste, Unit 100

      RETAIL STORES (PERSONAL SERVICES)
      1779 Martin Luther King Jr Blvd Ste, Houma, LA 70360-5402
      View Details
    • Value Estimation by Request

      1222 Barataria Ave

      RETAIL STORES (PERSONAL SERVICES)
      1222 Barataria Ave, Houma, LA 70360-5528
      View Details
    • Value Estimation by Request

      1125 Barataria Ave

      RETAIL STORES (PERSONAL SERVICES)
      1125 Barataria Ave, Houma, LA 70360-5525
      View Details

    Similar Nearby for Sale

    • $197,500
      1,197 SF

      Downtown Houma Commercial Corner Lot

      Corner lot property in downtown Houma, suitable for office or mixed-use.
      501 Sunset Ave, Houma, LA 70360
      View Details
    • $1,450,000
      5,448 SF

      Houma Restaurant/Retail Opportunity

      Recently built restaurant/retail property on 1.059 acres in Houma.
      730 Corporate Dr, Houma, LA 70360
      View Details
    • $275,000
      3,995 SF

      Downtown Houma Versatile Brick Building

      Spacious building in downtown Houma, ideal for offices or retail.
      511 Roussell St, Houma, LA 70360
      View Details
    • $259,000
      4,316 SF

      Historic Mixed-Use Downtown Houma Property

      Unique mixed-use building with commercial and residential potential in downtown Houma.
      8053 Main St, Houma, LA 70360
      View Details
    • $620,000
      1.07 Acres

      Prime Retail Pad Site Available

      Retail pad site in Houma's retail corridor for sale.
      1843 Martin Luther King Blvd, Houma, LA 70360
      View Details
    • $169,900
      2,910 SF

      Retail Property in High-Traffic Location

      Commercial property with cooler, kitchen, offices, and storage space.
      925 Lafayette St, Houma, LA 70360
      View Details

    Similar Nearby for Lease

    • $2,083 /Mo
      1,250 SF

      Retail Space on Martin Luther King

      Retail space in high-traffic Houma location with ample parking.
      1795 Martin Luther King, Houma, LA 70360
      View Details
    • $800 /Mo

      COLAB Business Suites Suite A- Office/Retail

      Commercial Office Suite
      7712 Main St, Houma, LA 70360
      View Details
    • $3,900 /Mo
      3,120 SF

      Retail Space in High-Traffic Area

      Prime retail space available at a well-seen Houma intersection.
      500 Corporate Dr, Houma, LA 70360
      View Details
    • $1,700 /Mo
      2,400 SF

      Versatile Office or Retail Space

      Prime commercial space for office or retail in Houma, LA.
      632 Corporate Dr, Houma, LA 70360
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease at 6688 W Main St.
      6688 W Main St, Houma, LA 70360
      View Details
    • $1,300 /Mo
      1,200 SF

      Retail Space in High-Traffic Area

      Retail space for lease in a high-traffic Houma location.
      122 Enterprise Dr, Houma, LA 70360
      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.
    1556 Martin Luther King Jr Blvd
    Houma, LA 70360
    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
    1556 Martin Luther King Jr Blvd, Houma, LA, 70360
    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!