Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    40540 Highway 23 Buras, LA 70041
    Back to Search
    Property profile & analytics

    40540 Highway 23, Buras, LA 70041

    View on Map
    • Commercial real estate
    • 1.86 lot acres
    For Sale
    $450,000
    View Listing →
    Highway 23 Commercial Property For Sale
    $450,000
    6,800 SF

    Highway 23 Commercial Property

    Commercial property on Highway 23 with multiple potential uses.

    40540 HIGHWAY 23, Buras, LA 70041
    View Listing
    Property ID
    US36-1865501
    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

    • Commercial real estate

    Property Details for 40540 Highway 23

    Year built
    2005
    Lot size
    1.86 lot acres
    Property type
    Commercial real estate
    APN
    1280475
    APU
    1280475

    Description

    This exceptional 6,800 square foot commercial property, situated on a 2.7-acre lot at 40540 Highway 23 in Buras, Louisiana, presents a unique investment opportunity. Previously operating as a successful bait and tackle shop, the building offers versatile space ideal for a variety of commercial uses, including office space or a retail storefront. Recent improvements include fresh paint and a new roof, ensuring the property is move-in ready. The property boasts ample parking and storage, complemented by several large boat/storage sheds, providing significant additional space. Three RV spots are also available, adding further potential revenue streams. Its strategic location directly on Highway 23 ensures high visibility and accessibility, while its proximity to Venice offers easy access to prime fishing locations. The expansive lot allows for significant expansion possibilities, catering to future growth and development needs. This property is priced competitively at $399,000 and represents a compelling investment in a thriving coastal Louisiana community. The combination of existing infrastructure, prime location, and expansion potential makes this an exceptional opportunity for a discerning buyer. Don't miss out on this chance to acquire a well-maintained, versatile commercial property in a desirable location.

    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
    Buras
    County
    Plaquemines
    State
    Louisiana
    Longitude
    -89.3995
    Latitude
    29.3268
    CBSA code
    35380
    CBSA name
    NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN 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
    $1,945
    $4,650
    $22,860
    $27,510
    -
    $46,500
    $152,400
    $198,900

    Comparable in this City

    • Value Estimation by Request

      Metal Bldg Only Boothville

      COMMERCIAL (GENERAL)
      Metal Bldg Only Boothville, Buras, LA 70041
      View Details
    • Value Estimation by Request
      1,764 SF

      39576 Hwy 23

      COMMERCIAL (GENERAL)
      39576 Hwy 23, Buras, LA 70041-3856
      View Details
    • Value Estimation by Request
      12,800 SF

      284 Rose Marie Rd

      COMMERCIAL (GENERAL)
      284 Rose Marie Rd, Buras, LA 70041
      View Details
    • Value Estimation by Request
      4,339 SF

      40279 Highway 23

      Multifamily properties
      40279 Highway 23, Buras, LA 70041
      View Details
    • Value Estimation by Request
      17.76 Acres

      34970 Hwy 23

      COMMERCIAL (GENERAL)
      34970 Hwy 23, Buras, LA 70041-5546
      View Details
    • Value Estimation by Request
      4,328 SF

      180 Pomme D Or Rd

      COMMERCIAL (GENERAL)
      180 Pomme D Or Rd, Buras, LA 70041
      View Details

    Similar Nearby for Sale

    • $2,490,000
      22,735 SF

      Heliport Office/Warehouse For Sale

      Louisiana Industrial Property: 22,735 SF
      38963 La-23, Buras, LA 70041
      View Details
    • Contact for pricing
      3,500 SF

      Spacious Multi-Bedroom Specialty Property

      Large property with potential for home or fishing camp.
      40128 Highway 23, Buras, LA 70041
      View Details
    • Contact for pricing

      Vacant Land in Buras, LA

      Vacant land available for sale in Buras, Louisiana.
      157 3, Buras, LA 70041
      View Details
    • Contact for pricing

      Income-Producing RV Park Lot

      3.66 acre RV park with expansion potential near Venture Global.
      31518 Highway 11, Buras, LA 70041
      View Details
    • $80,000
      1.00 Acre

      Land Near Prime Fishing Location

      Land with trailer near world-class fishing and outdoor recreation.
      32720 Highway 11, Buras, LA 70041
      View Details
    • $229,000
      1.84 Acres

      Established RV/Camper Site on Hwy

      RV/Camper site with hookups on Hwy 23 in Buras, LA.
      176 Emmett Ln, Buras, LA 70041
      View Details
    View Listing
    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.
    40540 Highway 23
    Buras, LA 70041
    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
    40540 Highway 23, Buras, LA, 70041
    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!