Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    311 W University Ave Lafayette, LA 70501

    View on Map
    Sponsored
    For Sale
    $495,000

    COMMERCIAL - Lafayette, LA

    Property size:
    3,001 SF
    Lot size:
    0.29 Acres
    Days on Market:
    119
    Last Refresh:
    Mar 13 at 6:06 am

    Property Features for 311 W University Ave

    General Information

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

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Wood, Tile
    Roof type
    Built-Up

    We can help!

    Listing Contact
    Jeff Landry
    Jeff Landry

    Scout Real Estate Company (337) 501-6457

    Listing agent Jeff Landry License #995682229

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Office Property Near Downtown

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

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

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.021087
    Latitude
    30.218555

    Nearby Similar for Sale

    • $450,000
      3,060 SF

      Mid-Century Modern Office Building

      First-class office building in the Oil Center, Lafayette.
      133 S Audubon Blvd, Lafayette, LA 70503
      View Details
    • $460,000
      3,700 SF

      Established Automotive Business Opportunity

      Well-equipped automotive business with strong reputation in Lafayette, Louisiana.
      401 8Th St, Lafayette, LA 70501
      View Details
    • $420,000
      4,370 SF

      Downtown Lafayette Live-Work Opportunity

      Rare live-work-build opportunity in Lafayette's growing urban core.
      339 S Buchanan St, Lafayette, LA 70501
      View Details
    • New
      $380,000
      500 SF

      Commercial Space with Drive-Thru

      New 500 sqft commercial space with drive-thru in Lafayette.
      4480 Johnston St, Lafayette, LA 70503
      View Details
    • $250,000
      4,000 SF

      Lafayette Commercial Property on One Acre

      Commercial property with warehouse and office space near I-49.
      330 Brigid St, Lafayette, LA 70507
      View Details
    • $528,000
      14,905 SF

      Lafayette Commercial Campus Opportunity

      Spacious commercial campus with ample parking and versatile spaces.
      212 6Th St, Lafayette, LA 70501
      View Details
    • $825,000
      3,476 SF

      Historic Downtown Lafayette Commercial Property

      Renovated historic commercial property in downtown Lafayette with rental income.
      120 Caillouett Pl, Lafayette, LA 70501
      View Details
    • $500,000
      2,889 SF

      Mixed-Use Property on Moss Street

      Versatile property with commercial and residential spaces in Lafayette, LA.
      3410 Moss Street Ext, Lafayette, LA 70507
      View Details
    • New
      $425,000
      3,900 SF

      Downtown Lafayette Commercial Property

      Prime commercial property in downtown Lafayette with office and warehouse space.
      310 S Buchanan St, Lafayette, LA 70501
      View Details
    • $250,000
      1,467 SF

      Lafayette Commercial Property on Johnston

      High-traffic commercial property near Downtown and UL Lafayette.
      2301 Johnston St, Lafayette, LA 70503
      View Details
    • $749,000
      4,281 SF

      Historic Office Building, Lafayette

      Historic office building in Downtown Lafayette, ideal for professional use.
      814 S Washington St, Lafayette, LA 70501
      View Details
    • $1,150,000
      17,470 SF

      Lafayette Commercial Building For Sale

      Large commercial building with multiple business options in Lafayette, Louisiana.
      218 Four Park Rd, Lafayette, LA 70507
      View Details

    FAQs

    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 Ave 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.
    (337) 443-0880
    Request Owner's contact information
    311 W University Ave Lafayette, LA 70501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    311 W University Ave
    Lafayette, LA 70501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    311 W University Ave Lafayette, LA 70501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeff Landry
    Jeff Landry
    Real Estate License ID: MO 2014010072
    (337) 443-0880 (314) 477-4462 (337) 257-5380
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!