Downtown Flex Warehouse with
For Sale
$425,000
Pending
310 S Buchanan Street, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size3,900 SF
Lot Size0.34 Acres
Days on Market151
Property Features for 310 S Buchanan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot, Off Street, Covered
Exterior features
Fully Fenced, Storage Building
Fencing
Full
Lot features
Level
Directions
South on NW Evangeline Thruway, turn Right (West) onto Second St. Pass Cypress and property driveway back entrance on left.
Subdivision
G3
Standard status
Pending
APN
6032075
Size
3,900 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
SEC 67 T9S R4E (109.63 x 97.06 x 160.98 x 134.48) Lafayette Parish
Legal Description
SEC 67 T9S R4E (109.63 x 97.06 x 160.98 x 134.48) Lafayette Parish
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Flooring type
Wood, Tile
Roof type
Metal, Built-Up
Additional Structures
Storage
Listing Agency:
Choice Realty
(337) 258-0235
Listed By:
C. Leigh Ann Meche · License #76801
(337) 258-0235
Added: Mar 11
Changed: Aug 4
Last Checked: Aug 8 at 8:06AM
MLS# 2600001932
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.
Approx. 15,246 SF “as is” commercial property includes an existing building totaling approximately 3,900 SF of office and warehouse space. The building features five office spaces on the first floor, with additional living area upstairs, along with storage areas that may support continued use or future development.
The property sits on an approximately 0.34-acre lot and is fully fenced. Located downtown Lafayette, it is described as being between Buchanan St. and Second Street, about a half block off the Mardi Gras parade route, and within walking distance of downtown attractions.
Off-street storage areas are included, and the property is positioned for straightforward access to the surrounding downtown area.
The property sits on an approximately 0.34-acre lot and is fully fenced. Located downtown Lafayette, it is described as being between Buchanan St. and Second Street, about a half block off the Mardi Gras parade route, and within walking distance of downtown attractions.
Off-street storage areas are included, and the property is positioned for straightforward access to the surrounding downtown area.
Key Highlights
- Approx. 0.342‑acre downtown Lafayette lot (.342 acre) with approx. 15,246 SF of “as is” property
- Existing building with approx. 3,900 SF of office and warehouse space
- Five first‑floor office spaces plus additional living area upstairs
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
$22,344
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
5.26%
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%
$446,880
$446.9K
Cap Rate 7%
$319,200
$319.2K
Cap Rate 9%
$248,267
$248.3K
Market Conditions
NOI Build-Up for 3,900 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 $7.08/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$26.3K $6.74/SF
− OpEx
−$3.9K −$1.01/SF
NOI
$22.3K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$446,880
Cap Rate 7%
$319,200
Cap Rate 9%
$248,267
Alternative Uses
Best Use
Office B
$648.3K
$567.3K – $756.4K
NOI $45,384 @ 7.0% cap · market cap 10.68%
Second Best
Warehouse
$319.2K
$279.3K – $372.4K
NOI $22,344 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$922.1K
$806.8K – $1.08M
NOI $64,547 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Balanced
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 Office 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?
Flex space - Flex-style warehouse property includes 3,900 SF with first-floor offices and additional living area upstairs.
Where is this flex space located?
The property is located at 310 S Buchanan Street Lafayette, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approx. 0.342‑acre downtown Lafayette lot (.342 acre) with approx. 15,246 SF of “as is” property; Existing building with approx. 3,900 SF of office and warehouse space; Five first‑floor office spaces plus additional living area upstairs
