Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    108 109 Leesville, LA 71446
    Back to Search
    Property profile & analytics

    108 109, Leesville, LA 71446

    View on Map
    • Mixed-use properties
    • 9,870 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 108 109

    Year built
    1922
    Property type
    Mixed-use properties

    Description

    This exceptional 9,870 square foot mixed-use property, located at 108-109 N 3rd St in the heart of downtown Leesville, Louisiana, presents a unique investment opportunity. Previously operating as a theater – known historically as Celebrations, The Vernon Theatre, and Dreamland Theater – this building retains much of its original charm and character. The iconic marquee, once showcasing classic movie titles, now serves as a vibrant focal point for modern events. The interior offers ample space for a variety of uses, making it ideal for an event center, entertainment venue, or a creative adaptive reuse project. Its central downtown location provides excellent visibility and accessibility, placing it within easy reach of local businesses, residents, and tourists. The property's rich history and versatile layout offer a compelling blend of nostalgia and potential, promising a strong return on investment for the discerning buyer. This is a rare chance to acquire a piece of Leesville's heritage and shape its future. The property sits on a 0-acre lot and is priced at $399,900. The building's original features, including elements of its theatrical past, offer a unique and attractive ambiance for any future use. This is a truly remarkable opportunity to own a piece of Leesville's history.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Leesville
    County
    Vernon
    State
    Louisiana
    Longitude
    -93.2611
    Latitude
    31.1435

    Comparable in this City

    • Value Estimation by Request
      147,233 SF

      156 Eissman Rd

      Mixed-use properties
      156 Eissman Rd, Leesville, LA 71446
      View Details
    • Value Estimation by Request
      8,000 SF

      17884 Lake Charles Hwy

      Mixed-use properties
      17884 Lake Charles Hwy, Leesville, LA 71446
      View Details
    • Value Estimation by Request
      23.98 Acres

      12369 Us-171

      Land
      12369 Us-171, Leesville, LA 71446
      View Details
    • Value Estimation by Request
      4.50 Acres

      Lake Charles Hwy

      Land
      0 Lake Charles Hwy, Leesville, LA 71446
      View Details
    • Value Estimation by Request

      Leesville, LA 71446

      RETAIL STORES (PERSONAL SERVICES)
      Leesville, LA 71446
      View Details
    • Value Estimation by Request
      16.87 Acres

      Leesville, LA 71446

      COMMERCIAL (GENERAL)
      Leesville, LA 71446
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,543 SF

      Versatile Mixed-Use Investment Opportunity

      Over 5000 sq ft of rental space, five units.
      700 Nolan Trace Pkwy, Leesville, LA 71446
      View Details
    • Contact for pricing
      8,000 SF

      Versatile Commercial Property on 15.56 Acres

      Commercial property with modern building, shop area, and versatile bays.
      17884 Lake Charles Hwy, Leesville, LA 71446
      View Details
    • Contact for pricing
      8,374 SF

      Leesville Strip Center For Sale

      Strip center on city water and sewer available for purchase.
      12393 Lake Charles Hwy, Leesville, LA 71446
      View Details
    • Contact for pricing
      0.26 Acres

      Leesville City Lot For Sale

      City lot available in the heart of Leesville, Louisiana.
      N Ermine St, Leesville, LA 71446
      View Details
    • $95,400

      Residential Land Lots in Leesville

      Large residential lots available in upcoming Leesville subdivision.
      Alexandria Hwy, Leesville, LA 71446
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Town Plaza

      Multi-tenant retail space in high-visibility Leesville location.
      1710 S 5Th St, Leesville, LA 71446
      View Details
    • Contact for pricing
      2,550 SF

      Retail Space in Town Plaza

      Retail space for lease in a renovated shopping center.
      1710-1772 S 5Th St, Leesville, LA 71446
      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.
    108 109
    Leesville, LA 71446
    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
    108 109, Leesville, LA, 71446
    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!