Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2208 Wallace Blvd Ferriday, LA 71334
    Back to Search
    Property profile & analytics

    2208 Wallace Blvd, Ferriday, LA 71334

    View on Map
    • Retail properties & Spaces
    • 5,434 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2208 Wallace Blvd

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This Class A mixed-use commercial building, located at 2208 & 2210 East Wallace Blvd in Ferriday, Louisiana (zip code 71334), presents a compelling investment opportunity. The property boasts a total of 5,434 square feet, strategically situated on a major north-south corridor connecting Baton Rouge and New Orleans, ensuring high visibility and accessibility. The building is comprised of two rental units. One unit, currently leased to a nail salon, occupies 2,450 square feet and generates a monthly rent of $600 on a month-to-month basis. The second unit, encompassing 2,984 square feet of net rentable space, is currently vacant and available for lease at $950 per month. The property is offered at an asking price of $199,000. The building's classification as a mixed-use property allows for diverse tenancy options, including executive office, medical office, and storefront uses. The lease type is NNN (Net, Net, Net), meaning the tenant is responsible for property taxes, insurance, and maintenance. Currently, the occupancy rate stands at 50%. This property offers significant potential for rental income growth and capital appreciation, making it an attractive investment in a thriving Louisiana market. The Concordia Parish location provides easy access to major transportation routes, enhancing its appeal to a wide range of businesses. The property's versatile layout and prime location make it an ideal investment for both seasoned and new investors seeking a strong return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ferriday
    County
    Concordia Parish
    State
    Louisiana
    Longitude
    -91.5517
    Latitude
    31.6536

    Comparable in this City

    • Value Estimation by Request

      609 Alabama Ave

      MEDICAL BUILDING
      609 Alabama Ave, Ferriday, LA 71334-3122
      View Details
    • Value Estimation by Request

      201 Louisiana Ave

      MEDICAL BUILDING
      201 Louisiana Ave, Ferriday, LA 71334-2827
      View Details
    • Value Estimation by Request
      20.00 Acres

      6569 Hwy 84

      MEDICAL BUILDING
      6569 Hwy 84, Ridgecrest, LA 71334-4573
      View Details
    • Value Estimation by Request

      609 Ee Wallace N Blvd

      MEDICAL BUILDING
      609 Ee Wallace N Blvd, Ferriday, LA 71334-2207
      View Details
    • Value Estimation by Request

      302 Louisiana Ave

      MEDICAL BUILDING
      302 Louisiana Ave, Ferriday, LA 71334-2830
      View Details
    • Value Estimation by Request

      109 Serio Blvd

      MEDICAL BUILDING
      109 Serio Blvd, Ferriday, LA 71334-2012
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Building with Rental Income

      Two leased rental spaces available for sale in Ferriday, LA.
      2208 EAST Wallace Blvd, Ferriday, LA 71334
      View Details
    • Contact for pricing
      8,000 SF

      Downtown Ferriday Commercial Building

      Unique commercial building in downtown Ferriday with available space.
      104 Louisiana Ave, Ferriday, LA 71334
      View Details
    • $195,000
      2,360 SF

      Ferriday Commercial Office Building For Sale

      Long-standing office building suitable for medical or professional use.
      200 Serio Blvd, Ferriday, LA 71334
      View Details
    • $175,000
      5,434 SF

      Commercial Building with Rental Income

      Two rental spaces available, leased to nail salon and event planner.
      2208 EAST Wallace Blvd, Ferriday, LA 71334
      View Details
    • $185,000
      1,000 SF

      Ferriday Commercial Property For Sale

      Versatile commercial building with high traffic location near hospital.
      6258 Highway 84, Ferriday, LA 71334
      View Details
    • Contact for pricing

      Lakefront Lodge with Income Potential

      3.73 acre Lake Concordia lodge with RV sites and rooms.
      1424 Fisherman Dr, Ferriday, LA 71334
      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.
    2208 Wallace Blvd
    Ferriday, LA 71334
    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
    2208 Wallace Blvd, Ferriday, LA, 71334
    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!