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    120 Banks Ave Lafayette, LA 70506

    View on Map
    Sponsored
    For Lease
    $1,200,000

    COMMERCIAL - Lafayette, LA

    Property size:
    18,204 SF
    Lot size:
    1.21 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 21 at 5:06 pm

    Property Features for 120 Banks Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    IL
    Rooms
    Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 5
    Bathrooms
    5
    APN
    6045923
    Parking
    65
    Parking features
    Off Street, Parking Lot
    Exterior features
    Door Sign, Fully Fenced, OH Door < 10 Ft, Roof Sign
    Fencing
    Full
    Size
    18,204 SF
    Lot size
    1.21 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Robbie Breaux
    Robbie Breaux

    Real Broker, LLC

    Listing agent Robbie Breaux License #76395

    Listing date Mar 20, 2026

    MLS# 2600002319

    Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Hub in Lafayette

    This commercial property, located in Lafayette, LA, encompasses approximately 18,204 square feet. It features over 2,000 square feet of professional office space and a 400 square foot boardroom that overlooks the production floor. A climate-controlled manufacturing area of over 6,000 square feet includes upgraded electrical systems and compressed air. Supporting spaces include a warehouse of over 5,300 square feet and a 2,400+ square foot garage/workshop with roll-up access, plus a dedicated office within the manufacturing area. There is also a 1,000+ square foot employee area with a kitchen, lounge, and storage. The property includes five restrooms throughout the building and 25 striped parking spaces, with the ability to expand to approximately 65. The property has approximately 350 feet of road frontage and four roll-up doors. It is located three minutes from I-10. The property is positioned in Flood Zone X and Census Tract 6.02. Zoned IL, the property supports a wide range of industrial and commercial uses. The lot size is 1.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pelican Engineering Electrical Engineer

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.061086
    Latitude
    30.229413

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    FAQs

    What type of property is this?
    Manufacturing property - Adaptable commercial property with office, manufacturing, and warehouse space.
    Where is this manufacturing property located?
    The property is located at 120 Banks Ave Lafayette, LA.
    What is the lease rate?
    The lease rate is $1,200,000.
    What are key features of this property?
    This property features: - +/-18,204 square foot facility designed to support a wide range of business operations.; - Boasts over 2,000 square feet of professional office space, a 400 square foot boardroom, and a **6,000+ square foot climate-controlled manufacturing area** with upgraded electrical and compressed air.; - Features a **5,300+ square foot warehouse** and a 2,400+ square foot garage/workshop with roll-up access.
    (337) 658-5690
    Request Owner's contact information
    120 Banks Ave Lafayette, LA 70506
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    Lafayette, LA 70506
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    120 Banks Ave Lafayette, LA 70506
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    We can help!
    Listing Contact
    Robbie Breaux
    Robbie Breaux
    Real Estate License ID: 76395
    Learn More
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