Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    61609 Us-51 Amite City, LA 70422
    Back to Search
    Property profile & analytics

    61609 Us-51, Amite City, LA 70422

    View on Map
    • Mixed-use properties
    • 2,000 SF
    • 28.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 61609 Us-51

    Year built
    2000
    Lot size
    28.53 lot acres
    Property type
    Mixed-use properties
    Property subtype
    High-rise multifamily apartments

    Description

    This exceptional investment opportunity encompasses a substantial 28.53-acre parcel in Amite City, Louisiana, boasting significant road frontage (over 260 feet) along Highway 51. The property features two mixed-use buildings, currently operating at 100% occupancy, providing immediate cash flow. Each building offers 2 units, totaling 2,000 square feet, with a price per square foot of $215. Constructed in 2000, these properties underwent a comprehensive renovation in 2020, ensuring modern amenities and long-term value. The asking price for this lucrative investment is $430,000. The strategic location on a major highway offers excellent visibility and accessibility, making it ideal for a variety of uses. The substantial lot size presents significant potential for future development or expansion. This turnkey investment is perfect for those seeking immediate returns and long-term growth in a thriving Louisiana market. The property is located at 61609 US-51, Amite City, LA 70422, within Tangipahoa Parish. This is a rare opportunity to acquire a well-maintained, income-generating property with considerable upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Amite City
    County
    Tangipahoa Parish
    State
    Louisiana
    Longitude
    -90.5134
    Latitude
    30.7538

    Comparable in this City

    • Value Estimation by Request
      4.99 Acres

      11019 La-16

      Mixed-use properties
      11019 La-16, Amite City, LA 70422
      View Details
    • Value Estimation by Request

      Amite, LA 70422

      MOBILE HOME PARK, TRAILER PARK
      Amite, LA 70422
      View Details
    • Value Estimation by Request

      237 Central Ave

      MOBILE HOME PARK, TRAILER PARK
      237 Central Ave, Amite, LA 70422
      View Details
    • Value Estimation by Request

      440 Binder Ln

      MOBILE HOME PARK, TRAILER PARK
      440 Binder Ln, Amite, LA 70422-2467
      View Details
    • Value Estimation by Request
      21.00 Acres

      40430 55th Service Rd

      MOBILE HOME PARK, TRAILER PARK
      40430 55th Service Rd, Amite, LA 70422
      View Details
    • Value Estimation
      $645,000
      3.41 Acres

      400 2nd St

      MOBILE HOME PARK, TRAILER PARK
      400 2nd St, Amite, LA 70422
      View Details

    Similar Nearby for Sale

    • $400,000
      6,000 SF

      Amite Multifamily Property For Sale

      Multifamily property in Amite, Louisiana, totaling 6,000 square feet.
      203 S Bay St, Amite, LA 70422
      View Details
    • $59,500
      Pending

      Land For Sale

      Land available in Amite, LA.
      18 Melanie Cir, Amite, LA 70422
      View Details
    • Contact for pricing
      0.21 Acres

      Residential Land in Amite, LA

      Vacant land for building a dream home near Amite.
      146 Charles Davis Ln, Amite, LA 70422
      View Details
    • $999,000
      2.40 Acres

      Prime Land Near Interstate 55

      2.398-acre parcel near I-55, ideal for development.
      11128 16 Hwy, Amite, LA 70422
      View Details
    • Contact for pricing
      0.29 Acres

      Vacant Land in Amite, LA

      Residential land for building a dream home near Amite.
      37 Charles Davis Ln, Amite, LA 70422
      View Details
    • Contact for pricing
      0.30 Acres

      Residential Land in Amite, LA

      Residential land for sale in a secluded community.
      49 Charles Davis Ln, Amite, LA 70422
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo
      2,000 SF

      Amite Retail Space For Rent

      2000 sqft retail space in the heart of Amite.
      308 S 1St St, Amite, LA 70422
      View Details
    • Contact for pricing
      24,403 SF

      Retail Space on Oak Street

      Retail space with easy access to I-55 and downtown.
      804 W Oak St, Amite, LA 70422
      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.
    61609 Us-51
    Amite City, LA 70422
    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
    61609 Us-51, Amite City, LA, 70422
    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!