Warehouse with Multiple Drive-In
For Sale
Contact for pricing
108 Banks Ave, Lafayette, LA 70506
Industrial facility with three drive-in bays, overhead bridge rail cranes, and a fully fenced, stabilized yard.
Property Size11,107 SF
Price / SF$58.07
Days on Market244
Property Features for 108 Banks Ave
General Information
Standard status
Active
Size
11,107 SF
Property subtype
INDUSTRIAL
Listing Agency:
Atlas Realty of Acadiana, LLC
Listed By:
Stevie Reaux
(337) 857-5317
Source:
Moodyscre
Added: Jan 8
Changed: Aug 24
Last Checked: Sep 8 at 9:47AM
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 Atlas Realty of Acadiana, LLC
Investment Insights
Based on property information with market context.
This industrial facility includes a spacious warehouse with three drive-in bays and three overhead bridge rail cranes: two remote-controlled 3-ton units and one remote-controlled 5-ton unit. Power is supported by 3-phase service, and the property also offers covered concrete work areas and a fully fenced, stabilized yard.
The office portion features a reception area with receptionist office, two executive offices downstairs, one upstairs, a large open room, a restroom, and an employee break area.
With multiple access routes designed for heavy vehicles and proximity to I-10, the property is positioned within the Roy Estates Industrial Park near established commercial businesses including Herc Rentals and Coca-Cola Bottling.
The office portion features a reception area with receptionist office, two executive offices downstairs, one upstairs, a large open room, a restroom, and an employee break area.
With multiple access routes designed for heavy vehicles and proximity to I-10, the property is positioned within the Roy Estates Industrial Park near established commercial businesses including Herc Rentals and Coca-Cola Bottling.
Key Highlights
- Industrial facility in Roy Estates Industrial Park with multiple access routes for 18‑wheelers and heavy commercial traffic, just minutes from I‑10.
- Warehouse includes 3 drive‑in bays and overhead bridge rail cranes: two 3‑ton remote‑controlled cranes plus one 5‑ton remote‑controlled crane.
- 3‑phase power throughout and fully fenced, stabilized yard with covered concrete work areas.
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
$52,404
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
8.12%
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%
$1,048,080
$1.0M
Cap Rate 7%
$748,629
$748.6K
Cap Rate 9%
$582,267
$582.3K
Market Conditions
NOI Build-Up for 11,107 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
$78.6K $7.08/SF
− Vacancy
−$3.8K −$0.34/SF
EGI
$74.9K $6.74/SF
− OpEx
−$22.5K −$2.02/SF
NOI
$52.4K $4.72/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /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%
$1,048,080
Cap Rate 7%
$748,629
Cap Rate 9%
$582,267
Alternative Uses
Best Use
Warehouse
$909.1K
$795.4K – $1.06M
NOI $63,634 @ 7.0% cap · market cap 9.87%
Second Best
Industrial
$748.6K
$655.1K – $873.4K
NOI $52,404 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$2.63M
$2.30M – $3.06M
NOI $183,825 @ 7.0% cap · market cap 28.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility with three drive-in bays, overhead bridge rail cranes, and a fully fenced, stabilized yard.
Where is this flex space located?
The property is located at 108 Banks Ave Lafayette, LA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Industrial facility in Roy Estates Industrial Park with multiple access routes for 18‑wheelers and heavy commercial traffic, just minutes from I‑10.; Warehouse includes 3 drive‑in bays and overhead bridge rail cranes: two 3‑ton remote‑controlled cranes plus one 5‑ton remote‑controlled crane.; 3‑phase power throughout and fully fenced, stabilized yard with covered concrete work areas.
