Mixed-Use Property with Restaurant
For Sale
$215,000
1008 E Simcoe St, Lafayette, LA 70501
Two-story mixed-use property combining restaurant improvements, equipment, and two apartment units.
Property Size3,255 SF
Lot Size0.71 Acres
Price / SF$66.05
Days on Market53
Property Features for 1008 E Simcoe St
General Information
Standard status
Active
Size
3,255 SF
Lot size
0.71 Acres
Property subtype
Retail
Zoning
CM
Property Condition
Severity
Repairs Needed
Evidence
visible rust/corrosion
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Utilities to Site
Yes
Multifamily Units
2
Amenities
Power
Water
Sewer
Vacant
Building Details
Buildings
1
Stories
2
Listing Agency:
The Gleason Group
Listed By:
Grace Guo · License #995706927
(337) 517-1466
Source:
Lacdb.resimplifi
Added: Sep 3
Changed: Oct 18
Last Checked: Oct 24 at 1:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Gleason Group
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Investment Insights
Based on property information with market context.
This two-story mixed-use property includes approximately 3,255 SF across five adjoining assessor parcels totaling approximately 0.71 acres. The first floor contains approximately 1,700 SF of former seafood restaurant and takeout space, with a commercial kitchen, seafood boiling room, walk-in cooler, chest and storage freezers, exhaust hood, roll-up door, boiler room, and additional storage. Existing restaurant FF&E conveys with the property in its AS IS, WHERE IS condition.
The second floor contains two apartment units, with access provided by an exterior metal staircase. The site includes partially fenced parking along with lawn and gravel areas. Zoning is CM. The roof and air-conditioning system were reportedly replaced around 2016. Electricity is connected, while the FF&E is currently unplugged. The former restaurant closed February 2026, and the second floor is not currently available for showings.
The second floor contains two apartment units, with access provided by an exterior metal staircase. The site includes partially fenced parking along with lawn and gravel areas. Zoning is CM. The roof and air-conditioning system were reportedly replaced around 2016. Electricity is connected, while the FF&E is currently unplugged. The former restaurant closed February 2026, and the second floor is not currently available for showings.
Key Highlights
- Approximately 0.71 acres with approximately 3,255 SF of improvements
- First floor includes approximately 1,700 SF of former seafood restaurant and takeout space
- Commercial kitchen, boiling room, walk‑in cooler, freezers, exhaust hood, roll‑up door, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,357
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,140
$307.1K
Cap Rate 7%
$219,386
$219.4K
Cap Rate 9%
$170,633
$170.6K
Market Conditions
NOI Build-Up for 3,255 SF
Gross rent
$23.0K $7.08/SF
− Vacancy
−$1.1K −$0.34/SF
EGI
$21.9K $6.74/SF
− OpEx
−$6.6K −$2.02/SF
NOI
$15.4K $4.72/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,140
Cap Rate 7%
$219,386
Cap Rate 9%
$170,633
Alternative Uses
Best Use
Specialty Retail
$604.2K
$528.7K – $704.9K
NOI $42,295 @ 7.0% cap · market cap 19.67%
Second Best
Mixed Use
$537.1K
$469.9K – $626.6K
NOI $37,595 @ 7.0% cap · market cap 17.49%
Theoretical Best
Office A
$769.6K
$673.4K – $897.9K
NOI $53,872 @ 7.0% cap · market cap 25.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use property combining restaurant improvements, equipment, and two apartment units.
Where is this mixed-use property located?
The property is located at 1008 E Simcoe St Lafayette, LA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Approximately 0.71 acres with approximately 3,255 SF of improvements; First floor includes approximately 1,700 SF of former seafood restaurant and takeout space; Commercial kitchen, boiling room, walk‑in cooler, freezers, exhaust hood, roll‑up door, and storage
