Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1224 NE Evangeline Way Lafayette, LA 70501

    View on Map
    Claim this Listing
    For Sale
    $350,000

    COMMERCIAL - Lafayette, LA

    Property size:
    2,552 SF
    Lot size:
    1.04 Acres
    Price / SF:
    $137/SF
    Added:
    Apr 14, 2025
    Days on Market:
    390
    Last Refresh:
    May 7 at 11:06 pm

    Property Features for 1224 NE Evangeline Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CM-1 (COMMERCIA
    Parking features
    Off Street, Parking Lot
    Security features
    Security System
    Exterior features
    Door Sign
    Standard status
    Active
    APN
    6089323
    Size
    2,552 SF
    Lot size
    1.04 Acres

    Taxes and HOA fees

    Tax Description
    TR 2-A SEC 24 T9S R4E (1.045 AC)(160FT FRONT

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Concrete, Tile - Ceramic
    Building materials
    Stucco

    We can help!

    Listing Contact
    Jake Zimmerman
    Jake Zimmerman

    Listing agent Jake Zimmerman License #995715702

    Listing office Scout Real Estate Co. 617 S Buchanan Street, Lafayette, LA

    Listing date Apr 14, 2025

    MLS# 2020022796

    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

    • Strategically located just off Evangeline Thruway.
    • Drive‑thru option available.
    • Excellent visibility and easy access.
    • Ideal for attracting both local customers and travelers.
    • 1,675 sf of retail/restaurant space.
    • Stucco exterior.

    Overview

    Lafayette Retail/Restaurant Space For Sale

    This commercial property in Lafayette, Louisiana, offers a 1,675 square foot retail or restaurant space with a drive-thru option. The property is strategically located just off Evangeline Thruway, providing excellent visibility and easy access. The lot size is 1.04 acres. The property is zoned CM-1 (COMMERCIA). This location is suitable for attracting local customers and travelers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Map

    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.012716
    Latitude
    30.251006

    Nearby Similar for Sale

    • $500,000
      5,000 SF

      Lafayette Commercial Investment Opportunity

      Two-unit commercial property with office, warehouse, and retail spaces.
      201 Marcon Drive, Lafayette, LA 70507
      View Details
    • $775,000
      5,856 SF

      Fully Leased Strip Center

      Stabilized commercial asset in a desirable Lafayette business corridor.
      107 Energy Parkway, Lafayette, LA 70508
      View Details
    • $425,000
      3,900 SF

      Downtown Lafayette Commercial Property

      Prime commercial property in downtown Lafayette with office and warehouse space.
      310 S Buchanan Street, Lafayette, LA 70501
      View Details
    • $699,000
      4,200 SF

      Mixed-Use Building in Lafayette, LA

      Mixed-use building with income potential in a high-visibility location.
      2807 Kaliste Saloom Road, Lafayette, LA 70508
      View Details
    • $795,000
      7,028 SF

      Renovated Commercial Property in Lafayette

      Move-in ready commercial property with overhead doors and private rooms.
      214 Guilbeau Road, Lafayette, LA 70506
      View Details
    • $825,000

      Historic Downtown Lafayette Commercial Property

      Renovated historic commercial property in downtown Lafayette with rental income.
      120 Caillouett Place, Lafayette, LA 70501
      View Details
    • $380,000
      2,570 SF

      Former Coffee Shop Opportunity

      Commercial property in Lafayette, formerly a coffee shop, priced to sell.
      410 Poydras Street, Lafayette, LA 70501
      View Details
    • $525,000
      2,067 SF

      Professional Office Building For Sale

      Impressive office building suitable for medical or professional use.
      113 Representative, Lafayette, LA 70508
      View Details
    • $1,300,000
      8,816 SF

      Professional Office with Optional Income

      Well-maintained office property in Lafayette with flexible income potential.
      114 Representative Row, Lafayette, LA 70508
      View Details
    • $335,000
      4,364 SF

      Downtown Lafayette Commercial Brick Building

      Versatile 4,364 SF building in the heart of Downtown Lafayette.
      1306 Jefferson Street, Lafayette, LA 70501
      View Details
    • $495,000
      3,001 SF

      Versatile Office Property Near Downtown

      Centrally located office property with flexible tenant suite options.
      311 W University Avenue, Lafayette, LA 70501
      View Details
    • $1,200,000
      8,576 SF

      Lafayette Multi-Purpose Event Center

      Versatile event center with commercial kitchen and outdoor pavilion.
      200 Rue Du Belier, Lafayette, LA 70506
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Retail/Restaurant space for sale with drive-thru option in Lafayette.
    Where is this drive through restaurant located?
    The property is located at 1224 NE Evangeline Way Lafayette, LA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Strategically located just off Evangeline Thruway.; Drive‑thru option available.; Excellent visibility and easy access.
    (337) 781-9733
    We can help!
    Listing Contact
    Jake Zimmerman
    Jake Zimmerman
    Real Estate License ID: 995715702
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1224 NE Evangeline Way, Lafayette, LA 70501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!