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$ 4,700,000
Est. payment /mo
New
2534 Cummins Road Houma, LA 70363
4 Baths
61,925 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 61,925 sqft
Price per Sqft $75
Subdivision Houma-Terrebonne Airport Commission
MLS Listing ID 2026016748
Lot Size 5.500 Acres
Property Sub-Type Commercial
Property Description
2534 Cummins Road offers a corporate-guaranteed, credit-backed industrial income stream at an approximate 8.1% leasehold cap rate. The 61,925 SF crane-served facility is 100% occupied by Houma Armature Works, a Nidec Motor Corporation subsidiary, with lease obligations unconditionally guaranteed by Nidec, a globally traded manufacturer listed on the NYSE and Tokyo Stock Exchange. Base rent is $486,000 annually with contractual 8% escalations at each five-year renewal, delivering built-in yield growth across up to six future renewal options. Landlord exposure is capped by lease at $32,000 for property taxes and $55,000 for insurance, with the tenant responsible for all costs above those thresholds. Recent capital improvements, including full roof replacement across the complex within the last two to three years, further limit near-term landlord obligations. The property sits on a 5.55-acre leasehold under a ground lease with the Houma-Terrebonne Airport Commission, currently recorded through 2035 and extended twice, most recently in connection with the tenant's investment in a 50-ton crane and storage facility completed in 2024–2025, reflecting a long-term operating commitment to the site. Located within the Houma-Terrebonne Airport Industrial Park with direct access to U.S. Highway 90 and the Houston-to-Gulf energy corridor, the asset is well suited for 1031 exchange, net-lease, or institutional acquisition strategies.
Location
State LA
County Terrebonne
Interior
Heating Central
Cooling Central Air
Exterior
Fence Partial
Utilities Available Natural Gas Connected
Roof Type Metal
Private Pool false
Building
Foundation Other
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Conventional, Private Financing Available
Listing Terms Cash, Conventional, Private Financing Available
Special Listing Condition As Is
Listed by Canal & Main Realty