Remodeled Two-Unit
For Sale
$399,000
145 W Main Street, New Iberia, LA 70560
Commercial Sale, New Iberia, LA
Property Size4,018 SF
Price / SF$99.30
Days on Market933
Property Features for 145 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
On Street
Security features
Security System
Exterior features
Door Sign
Directions
Main street New Iberia past plaza, corner of Main and French street. Building on left.Sign on property.
Subdivision
I2
Standard status
Active
APN
0500481501
Size
4,018 SF
Taxes and HOA fees
Tax Description
1-50x92 W Main St, Cestia, Amentor, Longhorn Leasing Being Defined by subject to the boundary wall
Legal Description
1-50x92 W Main St, Cestia, Amentor, Longhorn Leasing Being Defined by subject to the boundary wall
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete, Tile, Wood
Listing Agency:
McGeeScott Realty
(337) 735-4040
Listed By:
Linell Champagne · License #995680034
(337) 254-8891
Added: Feb 8, 2024
Changed: Aug 22
Last Checked: Aug 29 at 4:06AM
MLS# 24001233
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.
Investment Insights
Based on property information with market context.
This downtown historical commercial building contains two separately configured units totaling 4,018 square feet. One unit measures 2,660 square feet and the other 1,358 square feet, with each offering its own kitchen area and bathroom. The property is currently tenant occupied and carries C-2 zoning.
Updates completed in 2022 included interior painting, new flooring, fixtures, and separate electrical meters. Building systems include a TPO roof approximately 12 years old, a furnace installed in 2021, and an AC unit dating to 2016. Concrete, tile, and wood flooring are present, with central heating, natural gas, central air, and ceiling fans. Public water and on-street parking serve the property at 145 W Main Street in New Iberia.
Updates completed in 2022 included interior painting, new flooring, fixtures, and separate electrical meters. Building systems include a TPO roof approximately 12 years old, a furnace installed in 2021, and an AC unit dating to 2016. Concrete, tile, and wood flooring are present, with central heating, natural gas, central air, and ceiling fans. Public water and on-street parking serve the property at 145 W Main Street in New Iberia.
Key Highlights
- Two‑unit storefront totaling 4,018 square feet
- One unit contains 2,660 square feet; the second contains 1,358 square feet
- Each unit includes a kitchen area and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,334
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$646,680
$646.7K
Cap Rate 7%
$461,914
$461.9K
Cap Rate 9%
$359,267
$359.3K
Market Conditions
NOI Build-Up for 4,018 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.2K $12.00/SF
− Vacancy
−$2.0K −$0.50/SF
EGI
$46.2K $11.50/SF
− OpEx
−$13.9K −$3.45/SF
NOI
$32.3K $8.05/SF
Area
Iberia County, LA
Vacancy
4.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$646,680
Cap Rate 7%
$461,914
Cap Rate 9%
$359,267
Alternative Uses
Best Use
Retail
$461.9K
$404.2K – $538.9K
NOI $32,334 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.6K
$581.5K – $775.3K
NOI $46,519 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
Dollar General
Shops & Services
5,957 visits/mo
0.3 miles
Church's Chicken
Dining
5,102 visits/mo
0.5 miles
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fabian's For Flowers — 628 Center St, New Iberia, LA 70560
Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial building with separate kitchens, bathrooms, and electrical meters serving each unit.
Where is this storefront property located?
The property is located at 145 W Main Street New Iberia, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit storefront totaling 4,018 square feet; One unit contains 2,660 square feet; the second contains 1,358 square feet; Each unit includes a kitchen area and bathroom
