856 Grand Caillou Rd, Houma, LA 70363 - retail-commercial property

Detailed information about retail-commercial property which situated in Houma (70363) city, Louisiana state on 856 Grand Caillou Rd.

Additional Information: High Visibility! If you or your company wants to expand, this property offers high exposure to traffic, corner lot, blank canvas floor plan to suit your specific needs, 20+ parking spaces, and cinder block construction. Easily converted for restaurant use by adding a grease trap in rear of property. Confirmed by local licensed plumber. In today's market, it is very expensive to build a building of this caliber for the list price. In addition, this building is prime for either subdividing for multiple office leasing or renovating to suit your specific needs. With the conservative commercial market leasing rates of $10 sq/ft(annual based), this property yields a 10% cap rate easily. Looking at the income approach at $10 sq/ft, we would multiply the square footage of 4400 by the ($10) and arrive at $44,000. We then will take $44,000 divided by a capitalization rate of 10% and we arrive at $440,000 sales price. Our list is at $389,000.