Freestanding Office
New
For Sale
$490,000
216 La Rue France, Lafayette, LA 70508
Commercial Sale, Lafayette, LA
Property Size2,400 SF
Lot Size0.20 Acres
Price / SF$204.17
Days on Market7
Property Features for 216 La Rue France
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-G
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot
Lot features
Level
Directions
Pinhook towards the Oil Center, right on La Rue France,
Subdivision
G1
Standard status
Active
APN
6043897
Size
2,400 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
TR 1A SEC 46 T10S R4E (0.1995 AC) (79-22889-SERVITUDE OF DRIVEWAY)
Legal Description
TR 1A SEC 46 T10S R4E (0.1995 AC) (79-22889-SERVITUDE OF DRIVEWAY)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
reception area
conference room
break room
wet bar
fireplace
covered front and back porches
copy and storage areas
private driveway
Building Details
Floors in Building
1
Flooring type
Tile, Concrete
Roof type
Composition
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
Ivan Jennings · License #995702198
(337) 298-0889
Added: Sep 17
Changed: Sep 22
Last Checked: Sep 23 at 3:06AM
MLS# 2600008791
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 freestanding brick office property at 216 La Rue France provides 2,400 square feet on a 0.2-acre site. The interior combines stained concrete and tile flooring with a reception area, primary conference room, five private offices, four built-in cubicle workstations, and a large open room. Additional features include a break room, two restrooms, copy and storage areas, a wet bar, fireplace, and window nooks.
Covered porches extend across the front and back of the building, while a private driveway and asphalt parking lot serve employees and visitors. Central HVAC, public water, and city utilities support the property. The site is located in Lafayette, Louisiana, and carries B-G zoning.
Covered porches extend across the front and back of the building, while a private driveway and asphalt parking lot serve employees and visitors. Central HVAC, public water, and city utilities support the property. The site is located in Lafayette, Louisiana, and carries B-G zoning.
Key Highlights
- 2,400‑square‑foot freestanding brick office building
- 0.2‑acre site at 216 La Rue France, Lafayette, LA 70508
- Five private offices plus four built‑in cubicle workstations
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
$27,929
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
5.70%
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%
$558,580
$558.6K
Cap Rate 7%
$398,986
$399.0K
Cap Rate 9%
$310,322
$310.3K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$6.0K −$2.48/SF
EGI
$37.2K $15.52/SF
− OpEx
−$9.3K −$3.88/SF
NOI
$27.9K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /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%
$558,580
Cap Rate 7%
$398,986
Cap Rate 9%
$310,322
Alternative Uses
Best Use
Office B
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Configured with private offices, open workspace, conference facilities, and on-site parking.
Where is this office building located?
The property is located at 216 La Rue France Lafayette, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,400‑square‑foot freestanding brick office building; 0.2‑acre site at 216 La Rue France, Lafayette, LA 70508; Five private offices plus four built‑in cubicle workstations
