Flex Space With
For Sale
$175,000
6615 N University Avenue, Carencro, LA 70520
COMMERCIAL - Carencro, LA
Property Size2,670 SF
Price / SF$65.54
Days on Market161
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
Level
Directions
I-49 North to 182 Exit, turn right, home is on left.
Subdivision
B
Standard status
Active
APN
6012797
Size
2,670 SF
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: Aug 4
Last Checked: Aug 11 at 10:06PM
MLS# 2600001640
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 light industrial flex property contains 2,670 square feet arranged for office and warehouse functions. The office component measures approximately 1,500 square feet and includes six offices plus a restroom. An additional 1,170 square feet of warehouse area provides two overhead doors for loading and access. Ceramic tile and concrete flooring support the mixed configuration, while central heating and central air serve the building.
The property is located at 6615 N University Avenue in Carencro, Louisiana, immediately off the I-49 frontage road. It is zoned Lt Industrial and includes a parking lot. The building has a metal roof, public water, and septic tank service, offering a practical combination of workspace and storage-oriented improvements.
The property is located at 6615 N University Avenue in Carencro, Louisiana, immediately off the I-49 frontage road. It is zoned Lt Industrial and includes a parking lot. The building has a metal roof, public water, and septic tank service, offering a practical combination of workspace and storage-oriented improvements.
Key Highlights
- 2,670‑square‑foot light industrial flex property
- Approximately 1,500 square feet of office space with six offices and a restroom
- 1,170‑square‑foot warehouse area 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
$15,541
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
8.88%
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%
$310,820
$310.8K
Cap Rate 7%
$222,014
$222.0K
Cap Rate 9%
$172,678
$172.7K
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
$24.0K $9.00/SF
− Vacancy
−$120 −$0.05/SF
EGI
$23.9K $8.96/SF
− OpEx
−$8.4K −$3.13/SF
NOI
$15.5K $5.82/SF
Area
Lafayette County, LA
Vacancy
0.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$310,820
Cap Rate 7%
$222,014
Cap Rate 9%
$172,678
Alternative Uses
Best Use
Office B
$443.9K
$388.4K – $517.9K
NOI $31,071 @ 7.0% cap · market cap 17.75%
Second Best
Flex RnD
$222.0K
$194.3K – $259.0K
NOI $15,541 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 25.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office 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?
Flex space - Light industrial property combining dedicated office areas, warehouse capacity, and convenient access from the I-49 frontage road.
Where is this flex space located?
The property is located at 6615 N University Avenue Carencro, LA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,670‑square‑foot light industrial flex property; Approximately 1,500 square feet of office space with six offices and a restroom; 1,170‑square‑foot warehouse area with two overhead doors
