Fenced-Yard Flex
New
For Sale
$400,000
107 Board Road, Lafayette, LA 70508
Commercial Sale, Lafayette, LA
Property Size4,000 SF
Lot Size0.34 Acres
Price / SF$100
Days on Market2
Property Features for 107 Board Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IL
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
25
Exterior features
Fully Fenced, OH Door 10 - 15 Ft, Stabilized Yard Base
Fencing
Full
Subdivision
Petroleum Square
Directions
Lafayette headed towards Broussard on W. Pinhook Rd. turn right on Board Rd. The property is on the left.
Standard status
Active
APN
6025315
Size
4,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
LOT 7 PETROLEUM SQUARE (100X144.2X100X144.18)
Legal Description
LOT 7 PETROLEUM SQUARE (100X144.2X100X144.18)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private security area
Building Details
Flooring type
Tile, Concrete, Tile - Ceramic
Roof type
Metal
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Dyllan V Hawkins · License #995705414
(337) 852-0163
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 8:06AM
MLS# 2600008468
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 4,000-square-foot flex building combines approximately 1,500 SF of remodeled office space with 2,500 SF of warehouse area. The warehouse includes two 12x12 roll-up doors and three-phase power, while the building also offers two bathrooms, central heating and central air, tile and concrete flooring, a metal roof, and public water service. IL zoning supports its light industrial profile.
The property occupies 0.34 acres in Lafayette’s industrial corridor near Verot School Road and the Kaliste Saloom corridor. A fully fenced site with a stabilized yard base provides dedicated outdoor space for storage, equipment, or fleet operations. The configuration brings office, warehouse, access, and yard components together in a compact commercial property.
The property occupies 0.34 acres in Lafayette’s industrial corridor near Verot School Road and the Kaliste Saloom corridor. A fully fenced site with a stabilized yard base provides dedicated outdoor space for storage, equipment, or fleet operations. The configuration brings office, warehouse, access, and yard components together in a compact commercial property.
Key Highlights
- 4,000‑square‑foot flex building with 1,500 SF of remodeled office space and 2,500 SF of warehouse area
- Two 12x12 roll‑up doors provide warehouse access
- Three‑phase power supports equipment and trade‑oriented operations
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
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
View Realmo Analytics
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 office component fronts a warehouse area with roll-up access, three-phase power, and a fenced outdoor yard.
Where is this flex space located?
The property is located at 107 Board Road 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‑square‑foot flex building with 1,500 SF of remodeled office space and 2,500 SF of warehouse area; Two 12x12 roll‑up doors provide warehouse access; Three‑phase power supports equipment and trade‑oriented operations
