Car Wash Site with Outside
For Sale
$325,000
2849 Verot School Road, Lafayette, LA 70508
COMMERCIAL - Lafayette, LA
Property Size2,650 SF
Lot Size0.49 Acres
Price / SF$122.64
Days on Market155
Property Features for 2849 Verot School Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CH
Exterior features
Outside Storage
Directions
From Ambassador Caffery Pkwy and Verot School Rd, the property is down on your left.
Subdivision
O
Standard status
Active
APN
6042319
Size
2,650 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Description
LOT 2 SEC 26 R4E
Legal Description
LOT 2 SEC 26 R4E
Utilities
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Jeff Landry · License #995682229
(337) 257-5380
Added: Mar 24
Changed: Aug 4
Last Checked: Aug 25 at 8:06AM
MLS# 2600002417
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.
Car wash property on a 0.49-acre lot (2,650 SF) with outside storage, concrete flooring, and a metal roof. The site was previously operated as a car wash and is positioned for retail or service-oriented use. Public water service is available.
Located on Verot School Road in Lafayette, the property benefits from strong road exposure with excellent road frontage. It is near Our Lady of Lourdes, Women’s and Children’s Hospital, and Costco.
The property’s existing configuration, along with its exterior storage area, can support a range of service businesses seeking a single-site layout and straightforward site improvements.
Located on Verot School Road in Lafayette, the property benefits from strong road exposure with excellent road frontage. It is near Our Lady of Lourdes, Women’s and Children’s Hospital, and Costco.
The property’s existing configuration, along with its exterior storage area, can support a range of service businesses seeking a single-site layout and straightforward site improvements.
Key Highlights
- 0.49‑acre car wash site totaling 2,650 SF
- Outside storage included
- Concrete flooring and metal roof
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
$12,503
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
3.85%
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%
$250,060
$250.1K
Cap Rate 7%
$178,614
$178.6K
Cap Rate 9%
$138,922
$138.9K
Market Conditions
NOI Build-Up for 2,650 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
$18.8K $7.08/SF
− Vacancy
−$901 −$0.34/SF
EGI
$17.9K $6.74/SF
− OpEx
−$5.4K −$2.02/SF
NOI
$12.5K $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%
$250,060
Cap Rate 7%
$178,614
Cap Rate 9%
$138,922
Alternative Uses
Best Use
Specialty Retail
$491.9K
$430.4K – $573.9K
NOI $34,434 @ 7.0% cap · market cap 10.60%
Second Best
Retail
$459.1K
$401.7K – $535.6K
NOI $32,138 @ 7.0% cap · market cap 9.89%
Theoretical Best
Office A
$626.6K
$548.2K – $731.0K
NOI $43,859 @ 7.0% cap · market cap 13.50%
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
407
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash property on a 0.49-acre lot with outside storage, concrete floors, metal roof, and public water service.
Where is this car wash located?
The property is located at 2849 Verot School Road Lafayette, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 0.49‑acre car wash site totaling 2,650 SF; Outside storage included; Concrete flooring and metal roof
