Building Details

Buildings 2

Listing Agency: NAI Rampart Commercial Real Estate Lafayette

Listed By: Dewitt David · License #46838 Show Phone

Source: Lacdb.resimplifi

Added: Oct 12 Changed: Oct 26 Last Checked: Oct 26 at 2:44PM

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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 NAI Rampart Commercial Real Estate Lafayette

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Investment Insights

Based on property information with market context.

The property comprises two buildings totaling approximately 8,000 square feet. At 103 Row 1, approximately 6,400 square feet share a lobby and restrooms; a tenant currently leases approximately 3,400 square feet in a recently renovated area. The balance includes a reception and waiting room, two offices, and an air-conditioned warehouse with an electric roll-up door and work benches. That remaining area requires completion to suit the next occupant. The 1,600-square-foot 103 Row 1-A building is vacant and includes a commercial kitchen with multiple sinks, a floor drain, a grease trap, and several offices.

The property is zoned IH. The existing tenant lease provides rental income, while the other areas are available for occupancy or leasing.

Key Highlights

• Two buildings total approximately 8,000 SF
• 103 Row 1 contains approximately 6,400 SF; approximately 3,400 SF is leased to Noni's Kitchen
• Vacant 103 Row 1‑A contains approximately 1,600 SF and a commercial kitchen

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,833

Cap Rate

9.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,660 $916.7K

Cap Rate 7%

$654,757 $654.8K

Cap Rate 9%

$509,256 $509.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$56.6K $7.08/SF

− Vacancy

−$2.7K −$0.34/SF

EGI

$53.9K $6.74/SF

− OpEx

−$8.1K −$1.01/SF

NOI

$45.8K $5.73/SF

Area

Lafayette, LA

Vacancy

4.80%

Lease Rate

$7.08 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,660

Cap Rate 7%

$654,757

Cap Rate 9%

$509,256

Alternative Uses

Best Use

Specialty Retail

$1.49M

$1.30M – $1.73M (±1% cap)

NOI $103,952 @ 7.0% cap · market cap 20.79%

Second Best

Mixed Use

$1.32M

$1.16M – $1.54M (±1% cap)

NOI $92,400 @ 7.0% cap · market cap 18.48%

Theoretical Best

Office A

$1.89M

$1.66M – $2.21M (±1% cap)

NOI $132,403 @ 7.0% cap · market cap 26.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Zorrillo Cannabis Co (Bike/Boat/Book/etc) Store N J Hebert ... Trucking Company

Suggested Use

Top Pick Law Firm Real Estate Agency Kitchen & Bath Showroom Dental Office Daycare Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

450

Businesses Nearby

Explore this area Business Placement

Demographics for 70508, LA

40,343

Population

18,677

Households

2.2

Avg Household Size

38

Median Age

47%

College-Educated

94%

High-School Grad

24.3 sq mi

ZIP Area

1,660

Density / Sq Mi

$88,017

Median Household Income

$51,614

Median Earnings

$1,244

Median Rent

$299,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two buildings offer leased space alongside vacant areas with office, warehouse, and kitchen improvements.

Where is this mixed-use property located?

The property is located at 103 Row 1 Lafayette, LA.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Two buildings total approximately 8,000 SF; 103 Row 1 contains approximately 6,400 SF; approximately 3,400 SF is leased to Noni's Kitchen; Vacant 103 Row 1‑A contains approximately 1,600 SF and a commercial kitchen