1.9 Acres on West Tunnel near MLK Corridor in Houma

Vacant Land for Sale
Catylist Listing ID: 29575647
Property Subtypes: Hospitality, Multi-Family, Office, Retail
Gross Land Area: 1.90 Acres
Sale Price: $500,000
Unit Price: $263,157 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/5/2017

Overview / Comments

1.9 acre commercial tract centrally located in the heart of Houma with frontage on West Tunnel Blvd (LA Hwy 3040). This tract is mere minutes away from the major retail corridor of Martin Luther King Blvd., the growing medical area of Corporate Drive, the historic Downtown Houma commercial district, the major residential areas off of St. Charles and LA Hwy 311, and multiple apartment complexes and schools. It is a great location for these possible uses: professional office(s), medical office(s), hotel, retail, or multi-family.

The property has full utilities, a portion of a driveway/road, and storm drainage mitigation already completed! Elevations on the property are ~8 and it is in Current FIRM Zone C and Proposed DFIRM Zone X. This tract has a great location with some high traffic visibility without the steep Tunnel Blvd. price.

Conceptual plans for a business park as well as a survey map are attached.

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, Hank Babin at 985-804-9991.

Attachments & Media

Additional Details

Nearest MSA: Houma-Thibodaux
County: Terrebonne
Zoning: C3 - NEIGHBORHOOD COMMERCIAL DISTRICT
Legal Description: Parcel B-2 on Map Titled "Division of Parcel B-1 and Parcel B-2 of Houma Development Tract 1, Lot N, Located North of Westwood Boulevard Located in Section 101, T17S-R17E, Terrebonne Parish, LA"
Largest Nearby Street: LA Hwy 3040 (West Tunnel Blvd.)
Traffic/Vehicle Count: 30,642
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,259 45,086 69,602
Median Age: 34.14 36.45 35.15
Households: 2,498 17,438 25,937

Contact

Photograph of Listing Agent

Hank Babin, III, CRE

Logan Babin Real Estate Houma, LA 70360
LACDB Member
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