Office Building with Four Private
For Sale
$219,999
Pending
1014 W University Ave, Lafayette, LA 70506
A reception area, galley kitchen, and employee bathroom with a shower support day-to-day office operations.
Property Size1,400 SF
Days on Market17
Property Features for 1014 W University Ave
General Information
Standard status
Pending
Size
1,400 SF
Total Parking Spaces
7
Amenities
reception area
client bathroom
galley kitchen
technology closet
private offices
employee bathroom with shower
landscaped grounds
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Tyler Albrecht · License #0995697749
(337) 780-9698
Source:
Exprealty
Added: Oct 7
Changed: Oct 21
Last Checked: Oct 23 at 10:40AM
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 Keaty Real Estate Team
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Investment Insights
Based on property information with market context.
This 1,400-square-foot office building has a reception area with a built-in desk, sliding glass window, storage cabinetry, and a client bathroom. A hallway connects the reception area to four private offices, a galley kitchen, a technology closet, and an employee bathroom with a shower. The interior has been freshly painted, and the building includes HVAC, updated electrical and plumbing systems, new attic insulation, and whirlybird vents.
The property is at 1014 W University Ave in Lafayette, between Downtown Lafayette and the Saint Streets. It fronts W University Ave and is along the Cathedral-Carmel school pickup line. A concrete parking area accommodates seven vehicles, with live oak trees on the grounds.
The property is at 1014 W University Ave in Lafayette, between Downtown Lafayette and the Saint Streets. It fronts W University Ave and is along the Cathedral-Carmel school pickup line. A concrete parking area accommodates seven vehicles, with live oak trees on the grounds.
Key Highlights
- 1,400‑square‑foot office building
- Four private offices, reception area, galley kitchen, and technology closet
- Client bathroom plus employee bathroom with a new shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,292
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,840
$325.8K
Cap Rate 7%
$232,743
$232.7K
Cap Rate 9%
$181,022
$181.0K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$25.2K $18.00/SF
− Vacancy
−$3.5K −$2.48/SF
EGI
$21.7K $15.52/SF
− OpEx
−$5.4K −$3.88/SF
NOI
$16.3K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,840
Cap Rate 7%
$232,743
Cap Rate 9%
$181,022
Alternative Uses
Best Use
Office B
$232.7K
$203.7K – $271.5K
NOI $16,292 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.0K
$289.6K – $386.2K
NOI $23,171 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,927
Businesses Nearby
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Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A reception area, galley kitchen, and employee bathroom with a shower support day-to-day office operations.
Where is this office building located?
The property is located at 1014 W University Ave Lafayette, LA.
What is the asking price?
The asking price for this property is $219,999.
What are key features of this property?
This property features: 1,400‑square‑foot office building; Four private offices, reception area, galley kitchen, and technology closet; Client bathroom plus employee bathroom with a new shower
