Commercial Auto
For Sale
$465,344
2016 NE Evangeline Thruway, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size7,600 SF
Lot Size0.65 Acres
Price / SF$61.23
Days on Market167
Property Features for 2016 NE Evangeline Thruway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ch
Parking features
Parking Lot
Exterior features
Door Sign, Partially Fenced
Fencing
Partial
Directions
From Willow and Evangeline Thwy, head north on NE Evangeline Thwy for 0.5 miles, turn right toward NE Frontage Rd for 0.1 mile and building will be on your left.
Subdivision
D
Standard status
Active
APN
6028335
Size
7,600 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Description
P TR A SEC 13 T9S R4E (0.11 AC) (5181 SQ FT) SEC 13 T9S R4E (0.53 AC) (540641) (FIRESTONE BLDG)
Legal Description
P TR A SEC 13 T9S R4E (0.11 AC) (5181 SQ FT) SEC 13 T9S R4E (0.53 AC) (540641) (FIRESTONE BLDG)
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Jake Zimmerman · License #995715702
(337) 781-9733
Added: Mar 12
Changed: Aug 4
Last Checked: Aug 25 at 7:06AM
MLS# 2600001960
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 commercial auto shop at 2016 NE Evangeline Thruway includes an approximately 7,600-square-foot building on a commercial site. The improvements feature concrete flooring, central air conditioning, electric heat, and a metal roof. A partial fence provides site separation, while a door sign supports on-property identification.
The property is located in Lafayette, Louisiana, along NE Evangeline Thruway. Public water serves the site, and on-site parking is provided through a dedicated parking lot. CH zoning is identified for the property, supporting its classification as a commercial-heavy site.
The property is located in Lafayette, Louisiana, along NE Evangeline Thruway. Public water serves the site, and on-site parking is provided through a dedicated parking lot. CH zoning is identified for the property, supporting its classification as a commercial-heavy site.
Key Highlights
- Approximately +/-7,600 SF building
- CH zoning
- Located at 2016 NE Evangeline Thruway, Lafayette, LA 70501
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
$35,858
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
7.71%
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%
$717,160
$717.2K
Cap Rate 7%
$512,257
$512.3K
Cap Rate 9%
$398,422
$398.4K
Market Conditions
NOI Build-Up for 7,600 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
$53.8K $7.08/SF
− Vacancy
−$2.6K −$0.34/SF
EGI
$51.2K $6.74/SF
− OpEx
−$15.4K −$2.02/SF
NOI
$35.9K $4.72/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /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%
$717,160
Cap Rate 7%
$512,257
Cap Rate 9%
$398,422
Alternative Uses
Best Use
Retail
$1.32M
$1.15M – $1.54M
NOI $92,170 @ 7.0% cap · market cap 19.81%
Second Best
Industrial
$512.3K
$448.2K – $597.6K
NOI $35,858 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,783 @ 7.0% cap · market cap 27.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - CH-zoned commercial property with central air, concrete flooring, and a dedicated parking lot.
Where is this auto shop located?
The property is located at 2016 NE Evangeline Thruway Lafayette, LA.
What is the asking price?
The asking price for this property is $465,344.
What are key features of this property?
This property features: Approximately +/-7,600 SF building; CH zoning; Located at 2016 NE Evangeline Thruway, Lafayette, LA 70501
