Corner Unit in Lafayette,
403 S Buchanan Street Lafayette, LA 70501
403 S Buchanan Street, Lafayette, LA, 70501
$450,000
For Sale
$450,000
COMMERCIAL - Lafayette, LA
Property Size2,521 SF
Lot Size0.58 Acres
Price / SF$178.50
Days on Market311
Property Features for 403 S Buchanan Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CBD
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Parking
- 2
- Parking features
- On Street, Assigned
- Security features
- Security System
- Standard status
- Active
- APN
- 6172423
- Size
- 2,521 SF
- Lot size
- 0.58 Acres
Taxes and HOA fees
- Tax Description
- UNIT A BUCHANAN LOFTS (0.0579 AC)(2521 SF) (16.96% INTEREST IN COMMON AREA & ELEMENTS)
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Floors in Building
- 1
- Roof type
- Concrete
Listing Agency
Compass
(337) 233-9700
2000 Kaliste Saloom, Ste. 101, LA
Listed by
Setareh A Mirian · License #99564700
(337) 344-0067
Added: Sep 10, 2025 Checked: Jul 17 at 8:06 pm
MLS# 2500003385
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 property, located in Lafayette, LA, offers an excellent investment opportunity with an existing long-term tenant. The corner unit is well-maintained and features high visibility. The property has a size of 2521 square feet and is situated on a lot of 0.58 acres. Ease of parking is available along the street, with access to a paid parking lot across the street. The zoning is Cbd. The property can be used as professional/office or retail.
Key Highlights
- Excellent investment opportunity with existing long‑term tenant.
- High visibility corner unit.
- Well‑maintained with tons of character.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.5k | $18.84 |
| − Vacancy | −$3.8k | −$1.51 |
| EGI | $43.7k | $17.33 |
| − OpEx | −$13.1k | −$5.20 |
| NOI | $30.6k | $12.13 |
2,521 SF · lease $18.84/SF/yr · vacancy 8.04% · expense 30.00%
Alternative Uses
Best Use
Retail
$436.8K
$382.2K – $509.6K
NOI $30,574 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$596.1K
$521.6K – $695.4K
NOI $41,724 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Voodoo 5
Motorcycle Shop
Buchanan Lofts
Hotel & Motel
Cajun Stays - Buchanan ...
Hostel
Un-Wine'D
Bar & Pub
Refinery Downtown
Barber Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Root Floral Design — 810 Jefferson St, Lafayette, LA 70501
- Preservation Press — 526 St John St, Lafayette, LA 70501
- Flowers Etc — 1803 W University Ave, Lafayette, LA 70506
- Tommy's Downtown Flower Market — 220 Duclos St, Lafayette, LA 70506
FAQs
What type of property is this?
Storefront property - Well-maintained corner unit with high visibility and long-term tenant.
Where is this storefront property located?
The property is located at 403 S Buchanan Street Lafayette, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Excellent investment opportunity with existing long‑term tenant.; High visibility corner unit.; Well‑maintained with tons of character.
