Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1502 W University Ave Lafayette, LA 70506

    View on Map
    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Lafayette, LA

    Property size:
    165 SF
    Lot size:
    0.50 Acres
    Days on Market:
    168
    Last Refresh:
    Mar 18 at 6:06 pm

    Property Features for 1502 W University Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MN
    Rooms
    Bathroom 1
    Bathrooms
    1
    APN
    6073442
    Parking features
    Off Street, Parking Lot
    Size
    165 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Wood, Carpet - Full
    Roof type
    Composition

    We can help!

    Listing Contact
    Michele Ezell
    Michele Ezell

    Keaty Real Estate L.L.C. (337) 235-7770

    Listing agent Michele Ezell License #995707251

    Listing date Oct 2, 2025

    MLS# 2500004072

    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

    Office Suites on University Frontage

    Located in Lafayette, Louisiana, this commercial property offers private office suites within a well-maintained building. The property features shared access to a kitchen, bathroom, and parking facilities. Utilities are included in the lease. Situated on University frontage, the location provides close proximity to the downtown business core and the University. The available space includes two separate offices and a conference room. The property size is 165 square feet, situated on a lot of 0.5 acres. The zoning is MN. Multiple rooms can be rented at a discount. One room is available for $400 per month, two rooms for $575 per month, and two rooms with exclusive use of the attached conference room for $875 per month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McConnell Law Offices Law Firm Halpin Donna Counselor MICO Company of Acadiana ... Alternative Medicine Practice Drillers Mud Systems ... Construction Company

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -92.028606
    Latitude
    30.227094

    Nearby Similar for Lease

    • New
      $850 /Mo
      266 SF

      Lafayette Retail Space For Rent

      Retail space near future Buc-ee's, ready for beauty industry.
      551 E Pont Des Mouton Rd, Lafayette, LA 70507
      View Details
    • Contact for pricing
      9,000 SF

      Versatile Commercial Space in Lafayette

      9,000 sq ft suite ideal for events or retail.
      6413 Johnston St, Lafayette, LA 70503
      View Details
    • Contact for pricing
      8,300 SF

      Versatile Commercial Suite in Lafayette

      Two-story commercial suite with warehouse in high-traffic area.
      6413 Johnston St, Lafayette, LA 70503
      View Details
    • Contact for pricing
      1,000 SF

      Unique A-Frame Commercial Space

      High-visibility, flexible commercial space in a strategic growth corridor.
      547 E Pont Des Mouton Rd, Lafayette, LA 70507
      View Details
    • New
      Contact for pricing
      141 SF

      Lafayette Office Suite For Rent

      Private office suite in prime Lafayette location available for lease.
      345 Doucet Rd, Lafayette, LA 70503
      View Details
    • $2,750 /Mo
      1,500 SF

      Lafayette Commercial Suite For Lease

      Highly visible commercial suite ideal for various service-oriented businesses.
      300 Youngsville Hwy, Lafayette, LA 70508
      View Details
    • Contact for pricing
      10,000 SF

      Lafayette Commercial Mixed-Use Development

      New commercial mixed-use retail/office development with build-to-suite options.
      608 E Gloria Switch Rd, Lafayette, LA 70507
      View Details
    • New
      Contact for pricing
      168 SF

      Lafayette Office Suite For Lease

      Private office suite in prime location near Johnston Street.
      345 Doucet Rd, Lafayette, LA 70503
      View Details
    • Contact for pricing
      884 SF

      Lafayette Office Space For Rent

      Affordable office space in a professionally managed condominium complex.
      221 Southpark Rd, Lafayette, LA 70508
      View Details
    • Contact for pricing
      2,700 SF

      Lafayette Commercial Space For Lease

      Prime commercial space in central Lafayette, suitable for various businesses.
      803 W Pinhook Rd, Lafayette, LA 70503
      View Details
    • Contact for pricing
      3,068 SF

      Medical Office Building For Rent

      Fully built-out medical office near UL Lafayette and Doubletree.
      1501 W Pinhook Rd, Lafayette, LA 70503
      View Details
    • Contact for pricing
      8,300 SF

      Versatile Commercial Suite in Lafayette

      Two-story commercial suite with warehouse in high-traffic area.
      6413 Johnston St, Lafayette, LA 70503
      View Details

    FAQs

    What type of property is this?
    Serviced office - Private office suites with shared amenities in Lafayette, Louisiana.
    Where is this serviced office located?
    The property is located at 1502 W University Ave Lafayette, LA.
    What are key features of this property?
    This property features: - Utilities included in lease.; - Multiple office suites available with discounted rates for multiple rooms.; - Shared access to kitchen, bathroom, and parking.
    (337) 235-7770
    Request Owner's contact information
    1502 W University Ave Lafayette, LA 70506
    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.
    1502 W University Ave
    Lafayette, LA 70506
    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
    1502 W University Ave Lafayette, LA 70506
    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

    We can help!
    Listing Contact
    Michele Ezell
    Michele Ezell
    Real Estate License ID: 995707251
    (337) 235-7770 (337) 636-6745 (337) 849-8171
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!