Flex Space with Covered
For Sale
$800,000
1011 Jefferson Street, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size5,930 SF
Lot Size0.07 Acres
Price / SF$134.91
Days on Market328
Property Features for 1011 Jefferson Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
8
Parking features
Covered
Exterior features
Door Sign, Outside Storage
Subdivision
Mouton Addition
Directions
Take Johnston toward the thru way. Left on Jefferson St. Property will be on the right.
Standard status
Active
APN
6037447
Size
5,930 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
LOT 121 MOUTON ADD P LOT 122 MOUTON ADDN (22.52X69.95X24.86X70.89) (AREA Z-RIGHT OF PASSAGE & (2.35X3)-WATER WELL) @ 902 E CONVENT ST
Legal Description
LOT 121 MOUTON ADD P LOT 122 MOUTON ADDN (22.52X69.95X24.86X70.89) (AREA Z-RIGHT OF PASSAGE & (2.35X3)-WATER WELL) @ 902 E CONVENT ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile, Concrete
Roof type
Tar/Gravel
Additional Structures
Storage
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Michele Ezell · License #995707251
(337) 849-8171
Added: Oct 8, 2025
Changed: Aug 4
Last Checked: Aug 31 at 11:06AM
MLS# 2500004333
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 5,930-square-foot flex property occupies 0.07 acres and currently combines retail, office, and industrial functions. The interior includes tile and concrete flooring, central heating and central air, two bathrooms, and covered parking. Exterior features include a door sign and outside storage, while the roof is tar/gravel and the property is served by public water.
Located in downtown Lafayette immediately off Johnston, the property has access from Jefferson and E Convent. Eight on-site parking spaces support day-to-day operations. The site is zoned CBD and falls within a Historic Tax Credit zone, with eligibility for applicable credits.
Located in downtown Lafayette immediately off Johnston, the property has access from Jefferson and E Convent. Eight on-site parking spaces support day-to-day operations. The site is zoned CBD and falls within a Historic Tax Credit zone, with eligibility for applicable credits.
Key Highlights
- 5,930‑square‑foot flex property on 0.07 acres
- Current blend of retail, office, and industrial uses
- CBD zoning and location within a Historic Tax Credit zone
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
$71,917
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
8.99%
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%
$1,438,340
$1.4M
Cap Rate 7%
$1,027,386
$1.0M
Cap Rate 9%
$799,078
$799.1K
Market Conditions
NOI Build-Up for 5,930 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
$111.7K $18.84/SF
− Vacancy
−$9.0K −$1.51/SF
EGI
$102.7K $17.33/SF
− OpEx
−$30.8K −$5.20/SF
NOI
$71.9K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$1,438,340
Cap Rate 7%
$1,027,386
Cap Rate 9%
$799,078
Alternative Uses
Best Use
Retail
$1.03M
$899.0K – $1.20M
NOI $71,917 @ 7.0% cap · market cap 8.99%
Second Best
Office B
$985.8K
$862.6K – $1.15M
NOI $69,007 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,144 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,299
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - CBD-zoned commercial property combining retail, office, and industrial functionality with covered on-site parking.
Where is this flex space located?
The property is located at 1011 Jefferson Street Lafayette, LA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 5,930‑square‑foot flex property on 0.07 acres; Current blend of retail, office, and industrial uses; CBD zoning and location within a Historic Tax Credit zone
