Back to Search

For sale
Office Units
LA
Lafayette
70501
311 W University Avenue

Versatile Office Property Near Downtown

311 W University Avenue Lafayette, LA 70501

For Sale

$495,000

COMMERCIAL - Lafayette, LA

Property size:

3,001 SF

Lot size:

0.29 Acres

Price / SF:

$164/SF

For Sale

$495,000

COMMERCIAL - Lafayette, LA

Property size:

3,001 SF

Lot size:

0.29 Acres

Price / SF:

$164/SF

Added:: Nov 14, 2025
Days on Market:: 239
Last Refresh:: Jul 11 at 5:06 am

Property Features for 311 W University Avenue

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: CM-1 (COMMERCIA
Bathrooms: 2
Rooms: Bathroom 1, Bathroom 2
Parking features: Parking Lot
Exterior features: Door Sign
Standard status: Active
APN: 6022502
Size: 3,001 SF
Lot size: 0.29 Acres

Taxes and HOA fees

Tax Description: P LOTS 1-2-3-4-5-6 BLK 8 ELMHURST PARK ADD SE P OF LOTS 1-2-3-4 & P LOT 5 BLK 8 ELMHURST PARK ADD SE P OF LOTS 5-6 BLK 8 ELMHURST PARK ADD

Utilities

Heating system: Central
Cooling system: Central Air
Water source: Public

Building Details

Flooring type: Tile, Wood
Roof type: Built-Up

Listing agent Jeff Landry License #995682229

Listing office Scout Real Estate Co. 617 S Buchanan Street, Lafayette, LA

Listing date Nov 14, 2025

MLS# 2500005554

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 versatile office property is centrally located near the intersection of University Ave. and Johnston St., offering convenient access to Downtown Lafayette and the University of Lafayette. The building, with CM-1 Commercial Mixed Zoning, features seven offices, a conference room, a kitchen, two lobbies, and two restrooms. It offers the flexibility to accommodate up to three individual tenant suites, each with private entrances. The rear suite includes a private courtyard. Additional highlights include private parking and proximity to a city bus stop just 1 block away. The property has a size of 3001 square feet and sits on a lot of 0.29 acres.

Key Highlights

CM‑1 Commercial Mixed Zoning allows for a wide range of potential uses.
Centrally located near University Ave. and Johnston St.
Flexibility to accommodate up to three individual tenant suites, each with private entrances.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$54.0k	$18.00
− Vacancy	−$7.5k	−$2.48
EGI	$46.6k	$15.52
− OpEx	−$11.6k	−$3.88
NOI	$34.9k	$11.64

3,001 SF · lease $18.00/SF/yr · vacancy 13.80% · expense 25.00%

Alternative Uses

Best Use

Office B

$498.9K

$436.5K – $582.1K (±1% cap)

NOI $34,923 @ 7.0% cap · market cap 7.06%

Second Best

—

no second resolved use

Theoretical Best

Office A

$709.5K

$620.9K – $827.8K (±1% cap)

NOI $49,668 @ 7.0% cap · market cap 10.03%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Kenneth D. St. ... Law Firm Christopher T. Lee Law Firm Russo Consulting Group Consultant

Suggested Use

Similar For Sale Nearby

$1,500,000

6,178 SF

Multi-Tenant Commercial Building with Drive-Thru

Newer 2020-built three-suite property with a drive-thru window and an in-place medical office buildout.

1501 W Pinhook Road, Lafayette, LA 70503

View Details
$275,000

7,500 SF

Flex Contractor Garage with Warehouse Bays

Two roll-up door flex suites with offices and storage units on a half-acre commercial lot.

401 Mecca Street, Lafayette, LA 70508

View Details
$735,000

5,856 SF

Neighborhood Strip Center Investment

Fully leased strip center with four suites and strong on-site parking in a high-demand commercial corridor.

107 Energy Parkway, Lafayette, LA 70508

View Details
$825,000

3,476 SF

Historic Downtown Lafayette Commercial Property

Renovated historic commercial property in downtown Lafayette with rental income.

120 Caillouett Place, Lafayette, LA 70501

View Details
$1,100,000

8,576 SF

Multi-Purpose Event Center with Commercial Kitchen

Versatile event space with meeting areas, office space, a fully equipped commercial kitchen, and an expanded covered pavilion.

200 Rue Du Belier, Lafayette, LA 70506

View Details
$1,300,000

8,816 SF

Professional Office with Optional Income

Well-maintained office property in Lafayette with flexible income potential.

114 Representative Row, Lafayette, LA 70508

View Details
$629,000

4,200 SF

Mixed-Use Commercial Building

Three-suite mixed-use building with dedicated parking, offering flexible space for office, medical, or retail users.

2807 Kaliste Saloom Road, Lafayette, LA 70508

View Details
$270,000

3,000 SF

Office/Warehouse Flex Property

Office and insulated warehouse space with roll-up loading and front and rear parking for operational flexibility.

205 Four Park Road, Lafayette, LA 70507

View Details
$475,000

5,000 SF

Lafayette Commercial Investment Opportunity

Two-unit commercial property with office, warehouse, and retail spaces.

201 Marcon Drive, Lafayette, LA 70507

View Details
$249,900

5,800 SF

Flex/Industrial Building with Three Suites

Three-suite flex/industrial facility with offices and roll-up doors for versatile contractor, manufacturing, or distribution use.

405 Mecca Street, Lafayette, LA 70508

View Details
$289,000

5,700 SF

Flex Warehouse with Office and Studio

Corner-lot warehouse with an overhead door, office-ready front, and a gated rear yard for secure parking and added workspace.

3121 Cameron Street, Lafayette, LA 70506

View Details
$860,000

20,485 SF

Versatile Commercial Property in Lafayette

Unique commercial property with light industrial zoning in downtown Lafayette.

204 Wilson Street, Lafayette, LA 70501

View Details

For sale
Office Units
LA
Lafayette
70501
311 W University Avenue

What type of property is this?

Office units - Centrally located office property with flexible tenant suite options.

Where is this office units located?

The property is located at 311 W University Avenue Lafayette, LA.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: CM‑1 Commercial Mixed Zoning allows for a wide range of potential uses.; Centrally located near University Ave. and Johnston St.; Flexibility to accommodate up to three individual tenant suites, each with private entrances.

311 W University Avenue Lafayette, LA 70501

COMMERCIAL - Lafayette, LA

Property Features for 311 W University Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Multi-Tenant Commercial Building with Drive-Thru

Flex Contractor Garage with Warehouse Bays

Neighborhood Strip Center Investment

Historic Downtown Lafayette Commercial Property

Multi-Purpose Event Center with Commercial Kitchen

Professional Office with Optional Income

Mixed-Use Commercial Building

Office/Warehouse Flex Property

Lafayette Commercial Investment Opportunity

Flex/Industrial Building with Three Suites

Flex Warehouse with Office and Studio

Versatile Commercial Property in Lafayette

FAQs