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National Tenant + Vacancy Upside 421 W Tunnel Blvd 11,624 SF Retail Building Houma, LA 70360 $899,600 CAD ($77.39 CAD/SF) 9.24% Cap Rate

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Investment Highlights

Value-Add Retail Investment Opportunity featuring an 11,624 SF neighborhood retail center with approximately 48% vacancy available for lease-up growth
Surrounded by National Retailers including Walmart, Target, Lowe's, Starbucks, Chick-fil-A, Planet Fitness, and numerous shopping destinations.
Flexible Leasing Configuration with the ability to subdivide the vacant space into multiple suites, to attract a variety of users.

Existing National Credit Tenant Rent-A-Center anchors the property, providing in-place income.
Prime Corner Location on Tunnel Blvd with visibility to more than 24,000 vehicles per day along one of Houma's primary retail corridors.
Immediate Value-Add Opportunity Through Lease-Up of Approximately 5,500 SF - Reach out to Randy Brown for more info.

Executive Summary

421 W Tunnel Boulevard presents a versatile, value-add retail asset with a highly visible location on the primary commercial artery of Houma, Louisiana. Spanning 11,624 square feet, the property is currently 52% occupied by national tenant Rent-A-Center, delivering existing rental income and robust cross-traffic. This rare opportunity offers exceptional potential for owner/users seeking to occupy a portion of the property while offsetting costs with the in-place revenue. Additionally, 421 W Tunnel Boulevard can be subdivided into three separate spaces, allowing investors to capture improved cash flow.

421 W Tunnel Boulevard, originally built in 2001, offers a wealth of well-maintained and desirable features that enhance tenant appeal. The property is equipped with a security system for 24-hour access, ample on-site parking, and prominent monument signage. Combining a spacious layout and great daily traffic, this rare opportunity presents the perfect choice for all manner of retail, professional office, and service-based businesses.

The property enjoys a high-impact, corner location on Tunnel Boulevard, Houma’s main retail trade area. More than 30,000 vehicles pass by each day, enhancing branding potential for tenants. 421 W Tunnel Boulevard sits within minutes of industry-leading retail brands, including Walmart Supercenter, Target, Lowe’s, Planet Fitness, Starbucks, Chick-fil-A, Chili’s, and more. These popular tenants ensure dependable daily customer traffic to the area, creating a lucrative climate for retail businesses.

As part of the Houma-Thibodaux Retail Submarket, 421 W Tunnel Boulevard provides an exceptional inroad for investors seeking to enter or expand in this competitive region. Retail vacancies in the area currently sit at just 3.4%, with no new inventory currently under construction. The area’s high demand has driven rent growth of more than 1.7% during the past 12 months, building on average annual gains of 4% during the past five years. The area’s thriving retail sector is fueled by impressive customer demographics within 10 miles of the property. More than 64,000 residents live in the area, with an average household income of more than $79,000 and annual consumer spending of over $677 million.

Don’t miss out on this rare chance to secure an income-producing retail asset at well-below replacement cost, with an established national tenant and a key location on Houma’s busiest retail corridor at 421 W Tunnel Boulevard. Reach out to the KW Commercial team today to schedule a tour and receive additional information.

Property Facts

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Storefront Retail/Office

Building Size

11,624 SF

Building Class

Year Built

2001

Price

$899,600 CAD

Price Per SF

$77.39 CAD

Cap Rate

9.24%

NOI

$83,123 CAD

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.48

Lot Size

0.55 AC

Zoning

C-3 - Commercial Retail

Parking

18 Spaces (1.86 Spaces per 1,000 SF Leased)

24 Hour Access
Banking
Corner Lot

Restaurant
Security System
Signage

Monument Signage
Air Conditioning
Fiber Optic Internet

Cafe
Awning

Major Tenants

Rental and Leasing Services
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Rent-A-Center est un chef de file de l'industrie de la location à propriétaire dont la mission est d'améliorer la qualité de vie de ses clients. Ils comprennent que prendre des décisions au sujet de gros articles comme les meubles, les appareils électroménagers et les appareils électroniques est un enjeu important. C'est pourquoi ils offrent la garantie Rent-A-Center Worry-Free : ils donnent aux gens les articles de marque qu'ils veulent, comme Ashley Furniture, les appareils Whirlpool et les appareils électroniques Samsung, à un paiement qu'ils peuvent se permettre avec la possibilité de les posséder lorsqu'ils seront prêts. De plus, ils offrent six mois identiques au comptant, un rabais sur les achats anticipés, des prix équivalents aux concurrents et une livraison gratuite le jour même.