Bank-Turned Office with
For Sale
$250,000
631 E Admiral Doyle Drive, New Iberia, LA 70560
COMMERCIAL - New Iberia, LA
Property Size1,800 SF
Lot Size0.35 Acres
Price / SF$138.89
Days on Market628
Property Features for 631 E Admiral Doyle Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
14
Directions
From Hwy 90, Exit Hwy 14 into New Iberia. Take a left on Admiral Doyle Dr. Property on the left.
Subdivision
I2
Standard status
Active
APN
0500234985
Size
1,800 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Description
1-100x100, Item 1 & 100x55, Item 3 (Tract 2, E Admiral Doyle, Haskins Etal, Iberia Comm Developers (Imp 631 E Admiral Doyle)
Legal Description
1-100x100, Item 1 & 100x55, Item 3 (Tract 2, E Admiral Doyle, Haskins Etal, Iberia Comm Developers (Imp 631 E Admiral Doyle)
Utilities
Heating system
Electric (Heating), Central
Cooling system
Heat Pump
Water source
Public
Amenities
drive thru
Building Details
Floors in Building
1
Flooring type
Tile, Carpet - Full
Roof type
Metal
Listing Agency:
Caffery Real Estate, Inc.
(337) 367-7708
Listed By:
Michael Lamperez · License #995703666
(337) 519-8827
Added: Dec 9, 2024
Changed: Aug 4
Last Checked: Aug 29 at 5:06AM
MLS# 24011108
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 for-sale commercial property was formerly used as a bank and includes a layout designed for customer and staff flow. The interior features two offices, a large lobby, an employee breakroom, and two restrooms, making it well-suited for continued office or professional use.
The property also includes drive-through access and is described as having excellent visibility. It is zoned C-4.
The building is listed as 1,800 square feet on a 0.35-acre lot, providing a compact footprint for a range of professional office, retail, or medical applications, subject to zoning and approvals.
The property also includes drive-through access and is described as having excellent visibility. It is zoned C-4.
The building is listed as 1,800 square feet on a 0.35-acre lot, providing a compact footprint for a range of professional office, retail, or medical applications, subject to zoning and approvals.
Key Highlights
- Former bank property with drive‑thru access and a large lobby
- 2 offices plus an employee breakroom for flexible layout options
- Includes 2 restrooms (Bathroom 1 and Bathroom 2)
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
$15,163
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
6.07%
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%
$303,260
$303.3K
Cap Rate 7%
$216,614
$216.6K
Cap Rate 9%
$168,478
$168.5K
Market Conditions
NOI Build-Up for 1,800 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
$25.9K $14.40/SF
− Vacancy
−$5.7K −$3.17/SF
EGI
$20.2K $11.23/SF
− OpEx
−$5.1K −$2.81/SF
NOI
$15.2K $8.42/SF
Area
Iberia County, LA
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$303,260
Cap Rate 7%
$216,614
Cap Rate 9%
$168,478
Alternative Uses
Best Use
Office B
$216.6K
$189.5K – $252.7K
NOI $15,163 @ 7.0% cap · market cap 6.07%
Second Best
Retail
$206.9K
$181.1K – $241.4K
NOI $14,485 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,840 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former bank building offering two offices, a large lobby, breakroom, two restrooms, and drive-through access.
Where is this bank located?
The property is located at 631 E Admiral Doyle Drive New Iberia, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Former bank property with drive‑thru access and a large lobby; 2 offices plus an employee breakroom for flexible layout options; Includes 2 restrooms (Bathroom 1 and Bathroom 2)
