10.08% Cap - Light Industrial Investment Fully Occupied in Houma LA

Industrial for Sale
Also listed as Office
Catylist Listing ID: 30049168
Property Subtypes: Industrial-Business Park, Light Industrial
Building Size (RSF): 16,000 SF
Gross Land Area: 1.04 Acres
Sale Price: $487,500
Unit Price: $30.47 PSF
Office SF: 4,800 SF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 10.08%
Average Occupancy Rate: 100
Last Updated: 8/14/2017

Overview / Comments

Light industrial investment opportunity near ship building and industrial area of Houma. This property could be kept for its investment value or converted into an owner occupied space as the tenant leases expire. The size and functionality of the shop and office on each unit make allow it to have multiple uses and great functionality for tenants. The property is 100% occupied with year leases and is a strong source of cash flow for an investor. The building has five (5) suites for lease of which some can and are being combined for large space requirements. It is 16,000 Total SF with each of the five (5) units having 3,200 SF with 30% office space and the remainder as shop area. There are two (2) half bathrooms in each suite.

Tons of parking on both concrete and limestone. Total site size is 1.04 acres with parking area. The site has 177' of frontage on Thompson Road with a depth of 255'.

Each unit has an eaves height of 16' with the interior office being 8' in height. The offices are climate controlled by their own central air/heat. The buildings have sprinklers and the walls have spray-on insulation. The adjacent property of light industrial units is also available for sale by the same owner. See listing #28828897

This is an expanding area of East Houma near Munson Slip, Port of Terrebonne, Houma Airbase, and Chabert Hospital. Nearby oilfield service companies include Gulf Island Fabrication, LA Ship, NOV, Schottel, K&B Machine, GulfStream Services, and many more.

The Houma-Thibodaux MSA consistently has one of the lowest unemployment rates in Louisiana and has an 8 Parish retail draw of almost 450,000 people. It was recently ranked #6 of all nationwide mid-sized MSA’s by Area Development Magazine (May 2013) and was #24 overall out of 380 MSA’s in the U.S. This follows a January 2013 article in Forbes magazine naming Louisiana “America’s New Frontier for Business Opportunity”. In 2014, Houma was ranked as the 2nd Happiest Place to live in the U.S. and Louisiana was ranked #1 in Business Climate by Business Facilities Magazine. That same year, the U.S. Chamber of Commerce named LA the #1 export state, the #1 state in export growth, and the #2 state for income growth per capita. Most recently in 2015, Site Selection Magazine ranked LA #4 in Business Climate, its 6th straight Top 10 ranking. The magazine also awarded LA their Silver Shovel award in 2015 for the 6th consecutive year while ranking our economic development efforts #2 in the nation. Chief Executive magazine placed LA #7 in its "Best States for Business" in 2015.

For additional information, please contact the listing agent, Jourdan Despot at 985-438-1893.

Additional Details

Nearest MSA: Houma-Thibodaux
County: Terrebonne
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Construction/Siding: Metal Siding, Steel Frame
Parking Type: Surface
Parking Description: Parking consists of on-site concrete and limestone parking area. ~9,000 SF of concrete parking with an additional 11,750 SF of limestone parking and driveways. 20+ concrete spaces and 20+ limestone spaces.
Total Parking Spaces: 40
Sprinklers: Wet

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 12,856 52,890
Median Age: 33.86 35.6
Households: 4,660 19,152

Contact

Photograph of Listing Agent

Hank Babin, III, CRE

Logan Babin Real Estate Houma, LA 70360
LACDB Member
Photograph of Listing Agent

Jourdan Despot

Logan Babin Real Estate Houma, LA 70360
LACDB Member
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