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    309 N Polk St Rayne, LA 70578

    View on Map
    Sponsored
    For Sale
    $290,000

    COMMERCIAL - Rayne, LA

    Property size:
    5,290 SF
    Lot size:
    0.40 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 10 at 3:06 pm

    Property Features for 309 N Polk St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    Res & Comm
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2
    Bathrooms
    3
    APN
    0170152230a
    Parking features
    Off Street
    Exterior features
    Fully Fenced, Outside Storage, Storage Building
    Fencing
    Full
    Size
    5,290 SF
    Lot size
    0.40 Acres

    Utilities

    Heating system
    Wall Furnace
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Floors in Building
    2
    Flooring type
    Tile, Wood
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Chantelle Cormier

    Acadiana Investment Group (337) 735-9300

    Listing agent Chantelle P Cormier License #99564271

    Listing date Mar 9, 2026

    MLS# 2600001856

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Rayne Mixed-Use Property

    Located in the heart of Rayne, this mixed-use property, built in 1875, offers a blend of historic charm and modern updates. The property, zoned for both residential and commercial use, features 6 bedrooms and 3 bathrooms within its 5,290 square feet of living space. Situated on 0.4 acres of landscaped grounds, the residence boasts soaring 15-foot ceilings, 12-foot cypress doors, and five ventless natural gas fireplaces. The layout includes four bedrooms downstairs and two upstairs. The property includes a formal parlor, a separate courting parlor, and a primary suite with a fireplace, pocket doors, and an oversized walk-in closet. The updated kitchen features commercial porcelain tile, a farmhouse sink, and a walk-in pantry. Modern conveniences include a tankless water heater and high-speed internet. The outdoor area includes a saltwater pool with LED lighting and a hot tub. Additional updates include updated wiring and plumbing, natural gas service, and a newer roof. This property presents opportunities for either a distinguished residence or a unique commercial space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rayne
    County
    Acadia
    State
    Louisiana
    Longitude
    -92.268109
    Latitude
    30.238661

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    FAQs

    What type of property is this?
    Mixed-use property - Historic 6-bedroom property in Rayne, LA, zoned for commercial/residential use.
    Where is this mixed-use property located?
    The property is located at 309 N Polk St Rayne, LA.
    What is the asking price?
    The asking price for this property is $290,000.
    What are key features of this property?
    This property features: - Zoned for both commercial and residential use, offering flexibility.; - Spacious 5,290 sq ft historic home with **6 bedrooms and 3 bathrooms** on 0.4 acres in the heart of Rayne.; - Features a **saltwater pool with LED lighting and a hot tub** in a lush, landscaped setting.
    (337) 230-3271
    Request Owner's contact information
    309 N Polk St Rayne, LA 70578
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    Rayne, LA 70578
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    309 N Polk St Rayne, LA 70578
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    We can help!
    Listing Contact
    Chantelle Cormier
    Real Estate License ID: 99564271
    (337) 230-3271 (337) 354-7985 (409) 750-3544
    Learn more
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