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    Flournoy Lucas Rd Shreveport, LA 71106
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    Flournoy Lucas Rd, Shreveport, LA 71106

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    • Land
    • 2.54 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Flournoy Lucas Rd

    Lot size
    2.54 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 2.54-acre parcel of land presents a unique investment opportunity in the heart of Southeast Shreveport, Louisiana. Strategically located on the north side of the five-lane, concrete-paved Flournoy Lucas Road (LA 523), this property boasts excellent visibility to high traffic volumes. It enjoys a desirable location midway between Ellerbe Road and the Inner Loop Expressway (LA 3132), and adjoins the East Ridge Country Club golf course. Cleared of all trees and brush in September 2016, the land is generally level and situated within Shreveport city limits. The property features significant road frontage, approximately 831 feet along Flournoy Lucas Road, with a depth ranging from approximately 150 to 276 feet (subject to survey). Existing city infrastructure is readily available, with 12-inch city water and sanitary sewer mains running along Flournoy Lucas Road in front of the property, according to city records. Currently zoned R-A (Residential/Agricultural), the property holds significant potential for commercial development, subject to rezoning. The asking price is $885,000, with a land value of $8 per square foot. This prime location and readily available utilities make this an attractive proposition for a variety of development projects.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Shreveport
    County
    Caddo Parish
    State
    Louisiana
    Longitude
    -93.7161
    Latitude
    32.4002

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    • $222,768
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      Shreveport Commercial Land - 0.64 Acres

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    Similar Nearby for Lease

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      Class A Office Park Location

      Professional office space with easy access and ample parking.
      920 Pierremont Rd, Shreveport, LA 71106
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    • New
      $4,200 /Mo
      10,367 SF

      Restaurant Space with Walk-In Coolers

      Turnkey restaurant-ready layout includes an interior kitchen and walk-in coolers for food service operations.
      9330 Ellerbe Rd, Shreveport, LA 71106
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      Commercial Space Available For Lease

      Commercial space available for lease in Shreveport, Louisiana.
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      Redeveloped Retail/Office/Medical Space

      Retail, office, or medical space available in Shreveport-Bossier City.
      9260 Ellerbe Rd, Shreveport, LA 71106
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      140 SF

      Retail Space Available For Rent

      Retail space available for lease in Shreveport, Louisiana.
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    • $3,000 /Mo
      4 SF

      Medical or Professional Office Suite

      Well-appointed suite with reception, three offices, and a glass-walled conference room for medical, professional, or administrative use.
      425 Ashley Ridge Blvd, Shreveport, LA 71106
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    Shreveport, LA 71106
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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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    Flournoy Lucas Rd, Shreveport, LA, 71106
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