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    224 Main St Springhill, LA 71075

    • Commercial real estate
    For Sale
    View listing
    $60,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-2240552
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Salon One Twenty / Hair Salon
    • Bumper To Bumper Auto Parts/Crow-Burlingame / Racing Car Parts Store / Tool Store
    • Escape The Knight / Escape Room Center

    Property Details for 224 Main St

    Property type
    Commercial real estate
    APN
    125114
    APU
    125114

    Description

    This exceptional commercial property, located at 224 N Main Street in the heart of Springhill, Louisiana, presents a compelling investment opportunity. The building encompasses 1,500 square feet and sits on a 0.04-acre lot, providing ample space for a variety of retail or commercial uses. Currently, the property is generating income as it's leased to an established retail clothing store, offering immediate return on investment. The building's prime downtown location ensures high visibility and foot traffic, maximizing its potential for success. The property's strong tenant occupancy history speaks to its desirability and the robust nature of the Springhill market. This is an ideal acquisition for investors seeking a stable, income-producing asset in a thriving community. The building's solid construction and convenient location make it a low-maintenance investment with significant upside potential. The asking price of $60,000 represents an attractive entry point into the Springhill commercial real estate market. Serious inquiries are encouraged to explore this opportunity further and schedule a viewing. This property is ready for immediate occupancy and offers a rare chance to own a piece of Springhill's vibrant downtown. Don't miss this chance to secure a profitable and well-located commercial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springhill
    County
    Webster
    State
    Louisiana
    Longitude
    -93.4616
    Latitude
    33.0045
    CBSA code
    33380
    CBSA name
    MINDEN, LA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $333
    $300
    $2,760
    $3,060
    -
    $3,000
    $18,400
    $21,400

    Comparable in this City

    • Value Estimation
      $270,000
      3.07 Acres

      24012 Hwy 157

      COMMERCIAL (GENERAL) • 3.07 Acres
      24012 Hwy 157, Springhill, LA 71075-4521
      View Details
    • Value Estimation
      $250,000
      0.00 Acres

      231 Main St

      COMMERCIAL (GENERAL) • 0.00 Acres
      231 Main St, Springhill, LA 71075-3207
      View Details
    • Value Estimation by Request

      218 Main St

      COMMERCIAL (GENERAL)
      218 Main St, Springhill, LA 71075-3248
      View Details
    • Value Estimation by Request

      129 Main St

      COMMERCIAL (GENERAL)
      129 Main St, Springhill, LA 71075-3213
      View Details
    • Value Estimation
      $60,000
      0.05 Acres

      210 Main St

      COMMERCIAL (GENERAL) • 0.05 Acres
      210 Main St, Springhill, LA 71075
      View Details
    • Value Estimation
      $230,000
      0.00 Acres

      123 Main St

      COMMERCIAL (GENERAL) • 0.00 Acres
      123 Main St, Springhill, LA 71075
      View Details

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    224 Main St
    Springhill, LA 71075
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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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