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    Renovated Office Space in Lafayette Title is generated by Realmo AI

    120 Oil Center Drive, Lafayette, LA 70503

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    COMMERCIAL - Lafayette, LA

    Property size:
    200 SF
    Lot size:
    0.52 Acres
    Added:
    Dec 5, 2025
    Days on Market:
    169
    Last Refresh:
    May 23 at 3:06 am

    Property Features for 120 Oil Center Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    CM-1
    Parking features
    Off Street, Parking Lot
    Exterior features
    Door Sign
    Standard status
    Active
    APN
    6082673
    Size
    200 SF
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Description
    PAR OF GRO (135.47X157.11 ON CORNER OF HEYMANN BLVD & OIL CENTER DRIVE) WITHIN LETTERS ABXW BLDG #12

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Roof type
    Composition

    We can help!

    Listing Contact
    Tanna Crifasi

    Listing agent Tanna Crifasi License #0995701894

    Listing office Coldwell Banker Trahan Real Estate Group 325 Settlers Trace Ste 100, Lafayette, LA

    Listing date Dec 5, 2025

    MLS# 2500006079

    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.

    HighLights

    • Newly renovated professional office space in the Oil Center
    • Full‑service lease covering all property expenses
    • Access to a brand‑new shared conference room and large shared kitchen/breakroom with coffee bar
    • Brand new restrooms
    • New carpeting, fresh paint, new lighting, new ceiling tiles, and frosted glass
    • Plenty of on‑site parking

    Overview

    This newly renovated professional office space is located in the Oil Center of Lafayette. The suite offers access to a brand-new shared conference room, a large shared kitchen area and breakroom with a coffee bar, and updated restrooms. The building updates include new carpeting throughout the suite, freshly painted walls, new lighting, new ceiling tiles, and frosted glass on the exterior of each suite. The property has on-site parking. The lot size is 0.52 acres. The space is 200 square feet. It is a full-service lease with the landlord covering all property expenses including utilities, janitorial services, maintenance and repair, and property taxes and insurance. The tenant is responsible for phone and internet costs and expenses. The zoning is CM-1.
    Property Profile Location Intelligence

    Current Use by Public Records

    Smartbridge Partners Tech Support Center Averex Inc Oil & Natural Gas Company Phillips Goodson & Co, ... Tax Preparation Elizabeth Diebold - Thrivent ... Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.013799
    Latitude
    30.206394

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    FAQs

    What type of property is this?
    Office units - Newly renovated office space with shared amenities in Oil Center.
    Where is this office units located?
    The property is located at 120 Oil Center Drive Lafayette, LA.
    What are key features of this property?
    This property features: Newly renovated professional office space in the Oil Center; Full‑service lease covering all property expenses; Access to a brand‑new shared conference room and large shared kitchen/breakroom with coffee bar
    (337) 322-4814
    We can help!
    Listing Contact
    Tanna Crifasi
    Real Estate License ID: 0995701894
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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.

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