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    Property profile & analytics

    6229 Park Ave Houma, LA 70364

    • Commercial real estate
    • 4,000 SF
    • 2.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0871832
    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

    • The Ball Park / Miniature Golf Course / Batting Cage Center

    Property Details for 6229 Park Ave

    Lot size
    2.50 lot acres
    Property size
    4,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 2.5-acre commercial property in Houma, Louisiana, presents a unique investment opportunity. Located on W. Park Avenue, the site boasts approximately 295 feet of frontage and includes two adjacent lots. One lot is 1.46 acres of undeveloped land, while the other 1-acre lot houses "The Ball Park," an established putt-putt course and batting cage business with a history spanning over 30 years. The property features a 2,600 square foot, century-old structure suitable for office or retail use, and a separate 1,400 square foot building at the rear. The total square footage is 4,000 square feet, offered at $250 per square foot for an asking price of $1,000,000. Its high visibility and location make it ideal for redevelopment into a quick-service restaurant, retail space, or various other commercial ventures. The property's zoning and potential uses should be verified independently. This is a rare chance to acquire a substantial commercial property with significant development potential in a thriving Louisiana market. The address is 6229 W Park Ave, Houma, LA 70364.

    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
    Houma
    County
    Terrebonne Parish
    State
    Louisiana
    Longitude
    -90.7515767
    Latitude
    29.6263082

    Comparable in this City

    • $275,000
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      Raceland Commercial Building on Highway 1

      Freestanding 2,291 sq ft building on a corner lot.
      3750 Highway 1, Raceland, LA 70364
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    • $500,000
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      Prime Houma Retail Outparcel

      102,500 SF Shopping Center, $500K
      6400 Park Ave, Houma, LA 70364
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    • $165,000
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      Commercial Land in Houma, Louisiana

      2.7-acre commercial land with endless business opportunities in Houma.
      1002 Aycock St, Houma, LA 70364
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    • $495,000
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      Houma Retail Opportunity on West Park

      2.38-acre corner lot on high-traffic corridor ready for redevelopment.
      5709 W Park Ave, Houma, LA 70364
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    • $549,000
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      Houma Office Building For Sale

      Office building in high-traffic location, not in a flood zone.
      4924 Highway 311, Houma, LA 70364
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    • $69,900
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      Estate-Sized Parcel in Houma, LA

      Expansive lot in a sought-after location, ready for your vision.
      1385 Bayou Gardens Blvd, Houma, LA 70364
      View Details

    Similar Nearby for Sale

    • $275,000
      2,291 SF

      Raceland Commercial Building on Highway 1

      Freestanding 2,291 sq ft building on a corner lot.
      3750 Highway 1, Raceland, LA 70364
      View Details
    • $500,000
      0.99 Acres

      Prime Houma Retail Outparcel

      102,500 SF Shopping Center, $500K
      6400 Park Ave, Houma, LA 70364
      View Details
    • $165,000
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      Commercial Land in Houma, Louisiana

      2.7-acre commercial land with endless business opportunities in Houma.
      1002 Aycock St, Houma, LA 70364
      View Details
    • $495,000
      2.38 Acres

      Houma Retail Opportunity on West Park

      2.38-acre corner lot on high-traffic corridor ready for redevelopment.
      5709 W Park Ave, Houma, LA 70364
      View Details
    • $549,000
      3,141 SF

      Houma Office Building For Sale

      Office building in high-traffic location, not in a flood zone.
      4924 Highway 311, Houma, LA 70364
      View Details
    • $69,900
      0.46 Acres

      Estate-Sized Parcel in Houma, LA

      Expansive lot in a sought-after location, ready for your vision.
      1385 Bayou Gardens Blvd, Houma, LA 70364
      View Details

    Similar Nearby for Lease

    • $4,200 /Mo
      3,141 SF

      Houma Office Building For Rent

      Office building in high-traffic location available for rent.
      4924 Highway 311, Houma, LA 70364
      View Details
    • $6 SF/Yr
      26,040 SF

      Houma Retail Space For Lease

      Freestanding ±26,040 SF retail space in Houma's retail corridor.
      104 Armour Dr, Houma, LA 70364
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    • $1,700 /Mo
      1,374 SF

      Retail Space in High-Traffic Area

      Retail and restaurant spaces available for lease in Houma, LA.
      5717 W Main St, Houma, LA 70364
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    • $6,995,000
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      Renovated Retail Center For Rent

      Newly renovated retail center space available for lease.
      5801 W Park Ave, Houma, LA 70364
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    • Contact for pricing
      94,640 SF

      Colonial Acres Retail Center

      Houma, LA: Prime Retail Space Available
      6400 Park Ave, Houma, LA 70364
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    6229 Park Ave
    Houma, LA 70364
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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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