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National Tenant + Vacancy Upside 421 W Tunnel Blvd 11,624 SF Retail Building Houma, LA 70360 $650,000 ($55.92/SF) 9.24% Cap Rate
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.
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
Building Size
11,624 SF
Building Class
B
Year Built
2001
Price
$650,000
Price Per SF
$55.92
Cap Rate
9.24%
NOI
$60,060
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)
Amenities
- 24 Hour Access
- Banking
- Corner Lot
- Restaurant
- Security System
- Signage
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
- Cafe
- Awning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Rental and Leasing Services
- -
- -
- -
Rent-A-Center began in 1973 as a rent-to-own business focused on furniture and household goods, later building a broader retail model around flexible payment agreements. The company offers furniture, appliances, electronics, computers, tools, and related home essentials through online and store-based shopping, with services that include delivery, setup, and product service and repair in its payment agreements. Rent-A-Center maintains a wide presence across the United States and Mexico and remains centered on branded household goods for shoppers seeking alternatives to traditional credit-based buying.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Rental and Leasing Services | - | - | - |
Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
40/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
9,276
44,359
64,445
2030 Population
8,971
42,308
61,501
2025-2030 Projected Population Growth
-3.3%
-4.6%
-4.6%
Median Age
43.1
38.9
38.6
College Degree + Higher
20%
19%
18%
Daytime Employees
10,370
34,243
44,130
Total Businesses
1,198
3,602
4,498
Average Household Income
$74,838
$78,119
$79,580
Median Household Income
$53,483
$64,323
$66,162
Total Consumer Spending
$93.3M
$462.4M
$677.8M
2025 Households
4,016
17,433
24,715
Average Home Value
$271,296
$249,880
$249,702
Nearby Major Retailers
Property Taxes
| Parcel Number | 19527 | Improvements Assessment | $25,240 |
| Land Assessment | $11,200 | Total Assessment | $36,440 |
Property Taxes
Parcel Number
19527
Land Assessment
$11,200
Improvements Assessment
$25,240
Total Assessment
$36,440
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