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Listed byCanal & Main Realty • Amber Landry • 985-868-5230
$ 4,700,000
Est. payment | /mo
61,925 SqFt
$ 4,700,000
Est. payment | /mo
61,925 SqFt
Key Details
Property Type Other Types
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 61,925 sqft
Price per Sqft $75
MLS Listing ID 2026016748
HOA Y/N No
Year Built 2005
Annual Tax Amount $35,137
Lot Size 5 Sqft
Acres 5.5
Property Sub-Type Commercial
Source ROAM MLS
Land Area 61925
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
Community Other
Area 5.5
Interior
Cooling Central Air
Fireplace No
Exterior
Parking Features Concrete, On Site, Parking Lot
Garage No
Building
Foundation Other
Water Public
New Construction No
Others
Tax ID 21716
GET MORE INFORMATION
Richard Spears Jr
Broker / Owner License ID: 995719165
+1(225) 575-7189 | richard@primeproperties225.com