Mixed-Use Property with
For Sale
$523,500
6615 N University Avenue, Carencro, LA 70520
Commercial Sale, Carencro, LA
Property Size2,670 SF
Lot Size1.13 Acres
Price / SF$196.07
Days on Market207
Property Features for 6615 N University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Lt Industrial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
6
Parking features
Parking Lot
Security features
Security System
Exterior features
OH Door < 10 Ft
Lot features
Corner
Directions
I-49 North to 182 Exit, turn right, home on left.
Subdivision
B
Standard status
Active
APN
6012797
Size
2,670 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Description
SEC 60 T8S R4E (1965-469876 PLAT) SEC 60 T8S R4E TRIANGULAR (1976-666664) PLOT 1 SEC 60 T8S R4E (2001-26911 PLAT)
Legal Description
SEC 60 T8S R4E (1965-469876 PLAT) SEC 60 T8S R4E TRIANGULAR (1976-666664) PLOT 1 SEC 60 T8S R4E (2001-26911 PLAT)
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile - Ceramic, Concrete
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(337) 522-7554
Listed By:
Stacy Folse · License #73665
(337) 849-8962
Added: Mar 3
Changed: Sep 12
Last Checked: Sep 26 at 9:06AM
MLS# 2600001639
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 1.13-acre mixed-use property combines a traditional residence with dedicated commercial and work areas. The home includes formal and open living spaces, a kitchen with custom cabinetry, granite counters, stainless appliances, and a walk-in pantry, along with a primary suite, engineered wood flooring, plantation shutters, and substantial storage. A 660-square-foot outdoor kitchen adds a stove, microwave, dine-in island, pantry, storage, and half bath.
The commercial improvements include approximately 1,500 square feet of office space arranged into six offices with a restroom, plus 1,170 square feet of warehouse area with two overhead doors. A separate storage building and attached workshop provide additional utility. The property also includes a parking lot, metal roofing, central heating and cooling, public water, and septic service.
Located at 6615 N University Avenue in Carencro, the property is positioned off the I-49 Frontage Road and is zoned Lt Industrial.
The commercial improvements include approximately 1,500 square feet of office space arranged into six offices with a restroom, plus 1,170 square feet of warehouse area with two overhead doors. A separate storage building and attached workshop provide additional utility. The property also includes a parking lot, metal roofing, central heating and cooling, public water, and septic service.
Located at 6615 N University Avenue in Carencro, the property is positioned off the I-49 Frontage Road and is zoned Lt Industrial.
Key Highlights
- 1.13‑acre mixed‑use property at 6615 N University Avenue, Carencro, LA 70520
- Approximately 1,500 SF of office space with six offices and a restroom
- 1,170 SF warehouse with two overhead doors
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
$26,823
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
5.12%
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%
$536,460
$536.5K
Cap Rate 7%
$383,186
$383.2K
Cap Rate 9%
$298,033
$298.0K
Market Conditions
NOI Build-Up for 2,670 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
$48.1K $18.00/SF
− Vacancy
−$5.1K −$1.93/SF
EGI
$42.9K $16.07/SF
− OpEx
−$16.1K −$6.03/SF
NOI
$26.8K $10.05/SF
Area
Lafayette County, LA
Vacancy
10.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$536,460
Cap Rate 7%
$383,186
Cap Rate 9%
$298,033
Alternative Uses
Best Use
Mixed Use
$383.2K
$335.3K – $447.1K
NOI $26,823 @ 7.0% cap · market cap 5.12%
Second Best
Flex RnD
$222.0K
$194.3K – $259.0K
NOI $15,541 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 70520, LA
20,017
Population
9,011
Households
2.2
Avg Household Size
37
Median Age
21%
College-Educated
87%
High-School Grad
38.8 sq mi
ZIP Area
516
Density / Sq Mi
$65,956
Median Household Income
$43,019
Median Earnings
$953
Median Rent
$199,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a traditional residence, office suites, warehouse space, and outdoor entertaining improvements under Lt Industrial zoning.
Where is this mixed-use property located?
The property is located at 6615 N University Avenue Carencro, LA.
What is the asking price?
The asking price for this property is $523,500.
What are key features of this property?
This property features: 1.13‑acre mixed‑use property at 6615 N University Avenue, Carencro, LA 70520; Approximately 1,500 SF of office space with six offices and a restroom; 1,170 SF warehouse with two overhead doors
