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

    3615 Mills St, Unit 8 Carencro, LA 70520

    Sponsored
    For Sale
    $59,575

    LAND - Carencro, LA

    Lot size:
    0.78 Acres
    Days on Market:
    356
    Last Refresh:
    Feb 28 at 6:06 am

    Property Features for 3615 Mills St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    6057862
    Lot size
    0.78 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Private Sewer
    Water front features
    Pond
    Water front
    1

    We can help!

    Listing Contact
    Michelle D Mouton

    Real Broker, LLC (855) 450-0442

    Listing agent Michelle D Mouton License #0912123970

    Listing date Mar 10, 2025

    MLS# 25001934

    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

    Residential Land in Carencro, LA

    Located in the fast-growing area of Carencro, this residential land is situated within the Mills Crossing subdivision, specifically on lot 8. The property is positioned on the corners of Mills, Vatican, and Pope Roads. The subdivision consists of 15 spacious lots, with 11 of them being pond lots. The lot size is approximately 0.78 acres. This location offers an opportunity for building a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Auto Repair Shop Gym & Fitness Center Food Market Electrical Service Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Carencro
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.092024
    Latitude
    30.3076

    Nearby Similar for Sale

    • $2,250,000
      7,752 SF

      Equestrian Center on Coteau Ridge

      State-of-the-art equestrian center on 62 acres in Carencro, Louisiana.
      110 Blue Ridge Dr, Carencro, LA 70520
      View Details
    • $139,900
      2,000 SF

      Carencro Duplex For Sale

      Duplex in Carencro with long-term tenants and new roof.
      235 Auburn Dr, Carencro, LA 70520
      View Details
    • $3,100,000
      7,742 SF

      Equestrian Center on Coteau Ridge

      State-of-the-art equestrian center on 100 acres in Carencro, Louisiana.
      110 Blue Ridge Dr, Carencro, LA 70520
      View Details
    • $3,686,530
      11,403 SF

      Carencro Retail Investment Opportunity

      Fully occupied retail center in high-growth Carencro corridor.
      3730 NE Evangeline Trwy, Carencro, LA 70520
      View Details
    • $300,000
      1,737 SF

      Office Building with Rental Cottage

      Office building with rental cottage and billboard income opportunity.
      102 Gregg St, Carencro, LA 70520
      View Details
    • $1,000,000
      Pending

      Carencro Commercial Land For Sale

      3.66-acre commercial lot with retail potential in Carencro, LA.
      3601 University Ave N, Carencro, LA 70520
      View Details
    • $150,000
      2,160 SF

      Income-Producing Mobile Home Portfolio

      Three mobile homes on 1 acre, strong income potential.
      308 Arnaudville Rd, Carencro, LA 70520
      View Details
    • $600,000
      0.59 Acres

      Carencro Office Building - $600K

      High-visibility Carencro office, ideal for retail.
      601 Church St, Carencro, LA 70520
      View Details
    • $900,000
      16,068 SF

      Prime Lafayette Industrial Property

      Fully equipped, 16,068 SF industrial space
      338 Thoroughbred Dr, Carencro, LA 70507
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for sale in a growing Carencro subdivision.
    Where is this residential land & home lot located?
    The property is located at 3615 Mills St, Unit 8 Carencro, LA.
    What is the asking price?
    The asking price for this property is $59,575.
    What are key features of this property?
    This property features: - Prime location in the fast-growing area of Carencro.; - Opportunity to build a dream home in a new subdivision.; - **11 of 15 lots are pond lots.**
    (855) 450-0442
    Request Owner's contact information
    3615 Mills St, Unit 8 Carencro, LA 70520
    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.
    3615 Mills St, Unit 8
    Carencro, LA 70520
    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
    3615 Mills St, Unit 8 Carencro, LA 70520
    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
    Michelle D Mouton
    (855) 450-0442 (337) 534-0555 (337) 371-1033
    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!