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    175 Hector Ave Terrytown, LA 70056
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    Property profile & analytics

    175 Hector Ave Terrytown, LA 70056

    View on Map
    • Power centers
    • 22,112 SF
    Off-Market
    Property ID
    US36-0314399
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • WELLNESS COMPLEX AT OAKWOOD / Gym & Fitness Center / Alternative Medicine Practice
    • Wagner Frank H MD / Physician
    • Schultz Melvin J MD / Physician
    • Suzanne Tyler / Physician
    • Brandon Cassandra MD / Pediatrician / Physician

    Property Details for 175 Hector Ave

    Property size
    22,112 SF
    Property type
    Power centers
    Property subtype
    Shopping centers

    Description

    This exceptional 22,112-square-foot commercial property, formerly a fitness center, is available for lease in Terrytown, Louisiana. Located at 175 Hector Ave, 70056, in the Westbank submarket of Jefferson Parish (APN 110332), this single-tenant space offers significant flexibility. The building boasts a prime location, neighboring the Oakwood Shopping Center at the corner of Whitney and Hector Avenues. The asking lease rate is $14.00 per square foot. The layout is highly adaptable, suitable for a variety of uses, including high-density office space. The first floor encompasses 15,978 square feet and features a reception area, expansive open space, and separate men's and women's locker rooms. The second floor adds another 6,134 square feet, comprising two private studios ideal for specialized uses or training areas. The entire space is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire building or for the space to be subdivided to accommodate multiple tenants. This property presents a compelling opportunity for businesses seeking a prominent location with ample space and adaptable layout in a thriving commercial area. The property is zoned for mixed-use, power center, and office building uses.

    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
    Terrytown
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.0401644
    Latitude
    29.9184807

    Comparable in this City

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      Class A Office Building

      Professional office space for rent with convenient access.
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    Similar Nearby for Lease

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      Class A Office Building

      Professional office space for lease in Gretna, Louisiana.
      401 Whitney Ave, Gretna, LA 70056
      View Details
    • $1,800 /Mo
      1,600 SF

      Westbank Retail Space Available

      Retail space in a quaint Westbank shopping center.
      109 Wall Blvd, Gretna, LA 70056
      View Details
    • Contact for pricing

      Retail Center on Lapalco Boulevard

      Retail spaces available in high-traffic Gretna shopping center.
      605 Lapalco Blvd, Gretna, LA 70056
      View Details
    • Contact for pricing

      Retail Space on Terry Parkway

      Retail and office spaces available in high-traffic Terrytown shopping center.
      646 Terry Pkwy, Terrytown, LA 70056
      View Details
    • Contact for pricing

      Class A Office Building

      Professional office building with convenient access and modern amenities.
      Oakwood Corporate Ctr, Terrytown, LA 70056
      View Details
    • Contact for pricing

      Class A Office Building

      Professional office space for rent with convenient access.
      401 Whitney Ave, Gretna, LA 70056
      View Details
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    175 Hector Ave
    Terrytown, LA 70056
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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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