Commercial Land with
For Sale
$350,000
409 W Pinhook Road, Lafayette, LA 70503
Commercial Sale, Lafayette, LA
Property Size1,350 SF
Lot Size0.40 Acres
Price / SF$259.26
Days on Market442
Property Features for 409 W Pinhook Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
From Hwy 90, Take a right onto University Ave, take a left on Pinhook Rd and building will be on the left.
Subdivision
G2
Standard status
Active
APN
6034931
Size
1,350 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
SEC 37 T10S R4E (0.31 AC) & SEC 44 T10S R4E (0.10 AC)(50X100X102.5X35.26
Legal Description
SEC 37 T10S R4E (0.31 AC) & SEC 44 T10S R4E (0.10 AC)(50X100X102.5X35.26
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Roof type
Composition
Listing Agency:
HUNCO Real Estate
(337) 889-5711
Listed By:
William G Raines · License #0995684992
(337) 344-7173
Added: Jul 14, 2025
Changed: Sep 13
Last Checked: Sep 28 at 12:06PM
MLS# 2500001223
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 0.4-acre commercial land offering is located in Lafayette’s Oil Center at 409 W Pinhook Road. The property carries Commercial zoning and includes public water service. A billboard is present on the site and may be removed by the buyer, subject to applicable use restrictions conveyed with the sale.
Pinhook Road records traffic of more than 42,439 cars per day and serves Oschner Hospital, the Oil Center, nearby neighborhoods, and the area near Kaliste Saloom. The property is also within a short distance of Girard Park and Downtown Lafayette, with restaurants, shops, banks, medical services, grocery stores, conference venues, and entertainment in the surrounding Oil Center area.
Pinhook Road records traffic of more than 42,439 cars per day and serves Oschner Hospital, the Oil Center, nearby neighborhoods, and the area near Kaliste Saloom. The property is also within a short distance of Girard Park and Downtown Lafayette, with restaurants, shops, banks, medical services, grocery stores, conference venues, and entertainment in the surrounding Oil Center area.
Key Highlights
- 0.4‑acre commercial land parcel in Lafayette’s Oil Center
- Commercial zoning with public water service
- Located at 409 W Pinhook Road
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
$16,372
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
4.68%
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%
$327,440
$327.4K
Cap Rate 7%
$233,886
$233.9K
Cap Rate 9%
$181,911
$181.9K
Market Conditions
NOI Build-Up for 1,350 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
$25.4K $18.84/SF
− Vacancy
−$2.0K −$1.51/SF
EGI
$23.4K $17.33/SF
− OpEx
−$7.0K −$5.20/SF
NOI
$16.4K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$327,440
Cap Rate 7%
$233,886
Cap Rate 9%
$181,911
Alternative Uses
Best Use
Retail
$233.9K
$204.7K – $272.9K
NOI $16,372 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.2K
$279.3K – $372.4K
NOI $22,343 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned land in Lafayette’s Oil Center with public water service and a billboard that may be removed.
Where is this commercial land located?
The property is located at 409 W Pinhook Road Lafayette, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 0.4‑acre commercial land parcel in Lafayette’s Oil Center; Commercial zoning with public water service; Located at 409 W Pinhook Road
