1244 Barrow StHouma, LA 70360

Property Details for 1244 Barrow St

Property type

Healthcare properties

Property subtype

Medical offices

APN

22045

APU

22045

Description

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.

Location Insight

City

Houma

County

Terrebonne

State

Louisiana

Latitude

29.5854

Longitude

-90.7213

CBSA code

26380

CBSA name

HOUMA-BAYOU CANE-THIBODAUX, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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