Flex Space with
For Sale
$175,000
6615 N University Avenue, Carencro, LA 70520
Commercial Sale, Carencro, LA
Property Size2,670 SF
Price / SF$65.54
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
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
Concrete, Tile - Ceramic
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 13
Last Checked: Sep 26 at 9:06AM
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 2,670-square-foot flex property combines office and warehouse functions within a light industrial building. The office area measures approximately 1,500 square feet and includes six offices, a restroom, ceramic tile flooring, central heating, and central air. The 1,170-square-foot warehouse area has a concrete floor and two overhead doors, supporting practical storage or workspace needs.
The property is located at 6615 N University Avenue in Carencro, with access from the I-49 frontage road. It is zoned Lt Industrial and includes a parking lot, metal roofing, public water, and a septic tank. The layout offers a clear separation between administrative space and warehouse operations while keeping both functions within one building.
The property is located at 6615 N University Avenue in Carencro, with access from the I-49 frontage road. It is zoned Lt Industrial and includes a parking lot, metal roofing, public water, and a septic tank. The layout offers a clear separation between administrative space and warehouse operations while keeping both functions within one building.
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
Flex RnD
$222.0K
$194.3K – $259.0K
NOI $15,541 @ 7.0% cap · market cap 8.88%
Second Best
Warehouse
$193.6K
$169.4K – $225.8K
NOI $13,549 @ 7.0% cap · market cap 7.74%
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
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
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
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
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial property combining dedicated offices, warehouse capacity, and direct access to 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
