For Sale
$350,000

1244 Barrow StHouma, LA 70360

High-return multi-tenant office building in Houma, LA.

Overview

Added:
Dec 11, 2024
Days on market:
115
This 18,409 square foot multi-tenant office building, located at 1244 Barrow St, Houma, LA 70360, presents a compelling value-add investment opportunity. Currently operating at 55% occupancy, the property offers a substantial net operating income (NOI) of $38,520, translating to an attractive 11.01% capitalization rate. Priced at $350,000 ($19.01 per square foot), this full-service building is situated on a 0.83-acre lot and includes 86 parking spaces. The property's C-2 zoning allows for diverse uses, catering to both creative office and medical office tenants. Its central location in Houma, at the corner of Barrow and Dupont Streets, provides excellent visibility and proximity to numerous retailers within a two-mile radius. The building's prominent location offers significant signage opportunities, enhancing its appeal to potential tenants. This property is ideal for investors seeking a strong return and the potential for increased income through lease-up and property improvements. The building's current NOI and cap rate demonstrate its immediate profitability, while the significant vacancy rate presents a clear path for value enhancement.

Highlights

  • $350,000 asking price for this 18,409 SF office building.
  • Multi-tenant property with 55% occupancy and a strong 11.01% cap rate.
  • Generates a Net Operating Income (NOI) of $38,520.
  • Located in Houma, LA, at 1244 Barrow St, offering high visibility and central location.
  • Features 86 parking spaces on a 0.83-acre lot.
  • Priced at $19.01 per square foot.

Property Details for 1244 Barrow St

Property type
Office properties, Medical offices
Square Feet
18,409 SF
Lot Size (sq. ft)
36,155 SF

Location Insight

City
Houma
County
Terrebonne Parish
State
Louisiana
Latitude
29.5854309
Longitude
-90.7212506
1244 Barrow St, Houma, Louisiana

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1244 Barrow St
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