Sign Up Successful!
You now have access to more from Realmo!
    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

    520 Garfield St Lafayette, LA 70501

    Sponsored
    For Sale
    Pending
    $245,000

    COMMERCIAL - Lafayette, LA

    Property size:
    1,950 SF
    Lot size:
    0.22 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 25 at 11:06 pm

    Property Features for 520 Garfield St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    Res/Commercial
    Rooms
    Bathroom 2, Bathroom 1
    Bathrooms
    2
    APN
    6038972
    Parking features
    Parking Lot, Off Street
    Exterior features
    Door Sign, Partially Fenced
    Fencing
    Partial
    Size
    1,950 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Tile
    Roof type
    Metal

    We can help!

    Listing Contact
    Mikaela Wiggins

    Latter & Blum Holdings LLC (504) 569-9369

    Listing agent Mikaela Wiggins License #995707173

    Listing date Feb 5, 2026

    MLS# 2500000853

    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

    Downtown Lafayette Commercial Gem

    Located in downtown Lafayette, this commercial property offers approximately 1,950 square feet of space. The property is within walking distance of Festival International and has accessibility from Southeast Evangeline Thruway. It features two separate units: 522 (660 square feet) and 520 (1,290 square feet), each with its own bathroom and separate utility meters. An interior adjoining door allows flexible use as a single space or as two independent suites, suitable for office, retail, medical, or service-based businesses. Recent updates include a new roof and interior HVAC systems in April 2022. The concrete parking lot offers on-site parking, with additional space available in the backyard for future expansion or overflow needs. The lot size is 0.22 acres. The zoning is Res/Commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hairpaparazzi Hair Salon Prestige Hair Salon Hair Salon

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon 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
    -92.013947
    Latitude
    30.223706

    Nearby Similar for Sale

    • $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
    • $774,000
      19,519 SF

      Lafayette Warehouse with Retail Space

      Large warehouse with retail area near downtown Lafayette.
      115 E 3Rd St, Lafayette, LA 70501
      View Details
    • New
      $325,000
      3,000 SF

      Vermilion River Office Condominium

      Two-story office space in Waterwood Office Park.
      241 La Rue France, Lafayette, LA 70508
      View Details
    • New
      $265,000
      1,261 SF

      Versatile Commercial Property in Lafayette

      Functional layout, excellent accessibility, ideal for professional uses.
      207 N Luke St, Lafayette, LA 70506
      View Details
    • New
      $1,200,000
      8,576 SF

      Lafayette Multi-Purpose Event Center

      Versatile event center with commercial kitchen and outdoor pavilion.
      200 Rue Du Belier, Lafayette, LA 70506
      View Details
    • New
      $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
    • New
      $1,665,000
      22,700 SF

      Updated Office Building in Lafayette

      Modern office building in the Oil Center district.
      128 Demanade Blvd, Lafayette, LA 70503
      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
    • $465,000
      1,766 SF

      Retail/Office Space in Parc Lafayette

      Retail or office space in upscale Parc Lafayette.
      1921 Kaliste Saloom Rd, Lafayette, LA 70508
      View Details
    • $1,200,000
      9,263 SF

      Lafayette Commercial Strip Center

      Renovated strip center with six units near university and downtown.
      801 W University Ave, Lafayette, LA 70506
      View Details
    • $2,300,000
      9,500 SF

      Lafayette Commercial Property For Sale

      Two commercial buildings with office and warehouse space in Lafayette.
      3029 NW Evangeline Dr, Lafayette, LA 70507
      View Details
    • $495,000
      3,001 SF

      Versatile Office Property Near Downtown

      Centrally located office property with flexible tenant suite options.
      311 W University Ave, Lafayette, LA 70501
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile commercial property in vibrant downtown Lafayette, suitable for various businesses.
    Where is this mixed-use property located?
    The property is located at 520 Garfield St Lafayette, LA.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: - Prime Downtown Lafayette location, walking distance to Festival International.; - Two separate units (660 sqft and 1,290 sqft) with individual bathrooms and utility meters.; - Flexible space: can be used as a single unit or two independent suites.
    (720) 299-2400
    Request Owner's contact information
    520 Garfield St 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.
    520 Garfield St
    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
    520 Garfield St 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
    Mikaela Wiggins
    Real Estate License ID: 995707173
    (720) 299-2400
    Learn more
    Google sign-in failed. Please try again or use another login method.