Restaurant with Flex Retail
For Sale
$465,000
1921 Kaliste Saloom Road, Lafayette, LA 70508
COMMERCIAL - Lafayette, LA
Property Size1,766 SF
Lot Size0.10 Acres
Price / SF$263.31
Days on Market619
Property Features for 1921 Kaliste Saloom Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CH
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
Parc Lafayette
Lot features
Level
Directions
Kaliste Saloom at Camellia
Standard status
Active
APN
6157015
Size
1,766 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
LOT 2A UNIT 201B PARC LAFAYETTE CENTER (1766 SF) (1.91%INTEREST IN COMMON ELEMENTS & LIMITEDCOMMON ELEMENTS)
Legal Description
LOT 2A UNIT 201B PARC LAFAYETTE CENTER (1766 SF) (1.91%INTEREST IN COMMON ELEMENTS & LIMITEDCOMMON ELEMENTS)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Roof type
Tar/Gravel
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Brennan Billeaud · License #0000069755
(337) 654-2591
Added: Dec 15, 2024
Changed: Aug 4
Last Checked: Aug 26 at 10:06AM
MLS# 24011276
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 CH-zoned storefront property at 1921 Kaliste Saloom Road in Lafayette, LA is currently used as a restaurant. The space can accommodate retail or office use, providing flexibility for a range of commercial concepts. The lot size is 0.1 acres with a total property size of 1,766 square feet.
The property is located on Kaliste Saloom Road at the intersection of Camellia Blvd and is situated within the Parc Lafayette lifestyle and mixed-use development area. Parc Lafayette is described as offering shopping, lodging, dining, entertainment, and an events center and park.
With its existing restaurant use and ability to support retail or office operations, the property offers a straightforward option for an owner-occupant or investor seeking a commercial storefront in a mixed-use setting.
The property is located on Kaliste Saloom Road at the intersection of Camellia Blvd and is situated within the Parc Lafayette lifestyle and mixed-use development area. Parc Lafayette is described as offering shopping, lodging, dining, entertainment, and an events center and park.
With its existing restaurant use and ability to support retail or office operations, the property offers a straightforward option for an owner-occupant or investor seeking a commercial storefront in a mixed-use setting.
Key Highlights
- Prime location in the highly desirable Parc Lafayette, an upscale lifestyle center.
- Versatile space suitable for retail, restaurant, or office use.
- More affordable than new construction in a rapidly developing area.
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
$22,947
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
4.93%
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%
$458,940
$458.9K
Cap Rate 7%
$327,814
$327.8K
Cap Rate 9%
$254,967
$255.0K
Market Conditions
NOI Build-Up for 1,766 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
$33.3K $18.84/SF
− Vacancy
−$2.7K −$1.51/SF
EGI
$30.6K $17.33/SF
− OpEx
−$7.6K −$4.33/SF
NOI
$22.9K $12.99/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
25.00%
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%
$458,940
Cap Rate 7%
$327,814
Cap Rate 9%
$254,967
Alternative Uses
Best Use
Specialty Retail
$327.8K
$286.8K – $382.5K
NOI $22,947 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.5K
$365.4K – $487.1K
NOI $29,228 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Storefront property zoned CH, currently operating as a restaurant with flexibility for retail or office use.
Where is this conventional restaurant located?
The property is located at 1921 Kaliste Saloom Road Lafayette, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Prime location in the highly desirable Parc Lafayette, an upscale lifestyle center.; Versatile space suitable for retail, restaurant, or office use.; More affordable than new construction in a rapidly developing area.
