Flex Space with Secure
New
For Sale
$400,000
107 Board Rd, Lafayette, LA 70508
Remodeled offices, warehouse capacity, roll-up access, and a fenced outdoor area support varied commercial operations.
Property Size4,000 SF
Price / SF$100
Days on Market6
Property Features for 107 Board Rd
General Information
Standard status
Active
Size
4,000 SF
Zoning
Light Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,500 SF
Office Build-Out
1,500 SF
Drive-In Doors
2
Three-Phase Power
Yes
Building Details
Buildings
1
Building Size
4,000 SF
Listing Agency:
Keaty Real Estate Team
Listed By:
Dyllan V Hawkins · License #995705414
(337) 852-0163
Source:
Athomerealtyla
Added: Sep 21
Last Checked: Sep 24 at 11:38AM
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
Investment Insights
Based on property information with market context.
This flex property combines 4,000 square feet of usable space with an estimated 1,500 SF of remodeled office area and 2,500 SF of secure warehouse space. The building includes two 12x12 roll-up doors and three-phase power, providing practical support for equipment, vehicles, and trade-oriented operations. A fully fenced, stabilized yard adds secured outdoor storage, while on-site parking accommodates staff, customers, and fleet vehicles.
Located at 107 Board Rd in Lafayette, the property sits near Verot School Road and the Kaliste Saloom corridor. Light Industrial zoning and the mix of finished office, warehouse, yard, and access features create a flexible configuration within an established industrial area.
Located at 107 Board Rd in Lafayette, the property sits near Verot School Road and the Kaliste Saloom corridor. Light Industrial zoning and the mix of finished office, warehouse, yard, and access features create a flexible configuration within an established industrial area.
Key Highlights
- 4,000 SF flex building with 1,500 SF of remodeled office space and 2,500 SF of secure warehouse area
- Two 12x12 roll‑up doors provide warehouse access
- Three‑phase power supports equipment and operational requirements
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
$22,917
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
5.73%
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%
$458,340
$458.3K
Cap Rate 7%
$327,386
$327.4K
Cap Rate 9%
$254,633
$254.6K
Market Conditions
NOI Build-Up for 4,000 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
$28.3K $7.08/SF
− Vacancy
−$1.4K −$0.34/SF
EGI
$27.0K $6.74/SF
− OpEx
−$4.0K −$1.01/SF
NOI
$22.9K $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 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%
$458,340
Cap Rate 7%
$327,386
Cap Rate 9%
$254,633
Alternative Uses
Best Use
Office B
$665.0K
$581.9K – $775.8K
NOI $46,548 @ 7.0% cap · market cap 11.64%
Second Best
Warehouse
$327.4K
$286.5K – $382.0K
NOI $22,917 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$945.7K
$827.5K – $1.10M
NOI $66,202 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Bateman Food & Nutrition — 3155 W Pinhook Rd, Lafayette, LA 70508
Frequently Asked Questions
What type of property is this?
Flex space - Remodeled offices, warehouse capacity, roll-up access, and a fenced outdoor area support varied commercial operations.
Where is this flex space located?
The property is located at 107 Board Rd Lafayette, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 4,000 SF flex building with 1,500 SF of remodeled office space and 2,500 SF of secure warehouse area; Two 12x12 roll‑up doors provide warehouse access; Three‑phase power supports equipment and operational requirements
