Auto Shop with Large Bay Door
For Sale
$250,000
Pending
2301 Johnston Street, Lafayette, LA 70503
COMMERCIAL - Lafayette, LA
Property Size1,467 SF
Lot Size0.27 Acres
Days on Market318
Property Features for 2301 Johnston Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CommercialHeavy
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Off Street
Exterior features
OH Door 10 - 15 Ft
Subdivision
Vige Villa
Lot features
Corner, Level
Directions
From Hwy. 90 turn onto University Ave., continue for 1.4 miles, take a left onto Johnston St., after .8 miles the business will be on the left.
Standard status
Pending
APN
6046833
Size
1,467 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
P LOT VIGE VILLA (315.9X95X366.13X107.5)
Legal Description
P LOT VIGE VILLA (315.9X95X366.13X107.5)
Utilities
Heating system
Wall Furnace
Cooling system
Window Unit(s)
Water source
Public
Amenities
lobby/office area
workshop
storage space
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Slate
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Jade Dupuis Barras · License #995686034
(337) 551-3452
Added: Oct 9, 2025
Changed: Aug 4
Last Checked: Aug 22 at 10:06PM
MLS# 2500004392
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 auto shop building is currently configured as a car dealership and includes a dedicated lobby/office area, a workshop, two large bay doors for vehicle or inventory access, and ample storage space. Interior finishes noted include concrete flooring, with heating provided by wall furnace and cooling by window unit(s). The property also includes two bathrooms and concrete parking is offered off street.
Set on a 0.27-acre lot with 1,467 square feet under PropertySize, the exterior features an OH door with a 10 to 15 ft height range. The roof is slate, and water service is public. The property is zoned CommercialHeavy.
Located at 2301 Johnston Street in Lafayette (70503), the building is positioned on a high-traffic commercial corridor with proximity to both Downtown Lafayette and the University of Louisiana at Lafayette.
Set on a 0.27-acre lot with 1,467 square feet under PropertySize, the exterior features an OH door with a 10 to 15 ft height range. The roof is slate, and water service is public. The property is zoned CommercialHeavy.
Located at 2301 Johnston Street in Lafayette (70503), the building is positioned on a high-traffic commercial corridor with proximity to both Downtown Lafayette and the University of Louisiana at Lafayette.
Key Highlights
- 0.27‑acre lot with 1,467 SF auto shop building
- Currently configured for a car dealership layout with lobby/office, workshop, and storage
- Two large bay doors for vehicle or inventory access plus an OH door 10 to 15 ft
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
$17,791
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
7.12%
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%
$355,820
$355.8K
Cap Rate 7%
$254,157
$254.2K
Cap Rate 9%
$197,678
$197.7K
Market Conditions
NOI Build-Up for 1,467 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
$27.6K $18.84/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$25.4K $17.33/SF
− OpEx
−$7.6K −$5.20/SF
NOI
$17.8K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /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%
$355,820
Cap Rate 7%
$254,157
Cap Rate 9%
$197,678
Alternative Uses
Best Use
Retail
$254.2K
$222.4K – $296.5K
NOI $17,791 @ 7.0% cap · market cap 7.12%
Second Best
Industrial
$98.9K
$86.5K – $115.4K
NOI $6,921 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$346.8K
$303.5K – $404.7K
NOI $24,279 @ 7.0% cap · market cap 9.71%
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
1,411
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
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
- Brakes For Less — 1351 W Pinhook Rd, Lafayette, LA 70503
- Express Oil Change & Tire Engineers — 2964 Johnston St, Lafayette, LA 70503
- Goodyear Auto Service — 2802 Johnston St, Lafayette, LA 70503
- Dave's Car Care Center — 1400 W Pinhook Rd, Lafayette, LA 70503
- Fournet's Winnwood Chevron — 2932 Johnston St, Lafayette, LA 70503
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop building configured as a car dealership with lobby/office, workshop, storage, and off-street parking.
Where is this auto shop located?
The property is located at 2301 Johnston Street Lafayette, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 0.27‑acre lot with 1,467 SF auto shop building; Currently configured for a car dealership layout with lobby/office, workshop, and storage; Two large bay doors for vehicle or inventory access plus an OH door 10 to 15 ft
