Conditioned Flex
For Sale
$490,000
1101 Eraste Landry Rd, Lafayette, LA 70506
Flexible industrial property combines conditioned warehouse space with dedicated offices and IL zoning.
Property Size6,636 SF
Price / SF$73.84
Days on Market153
Property Features for 1101 Eraste Landry Rd
General Information
Standard status
Active
Size
6,636 SF
Property subtype
Industrial
Zoning
IL
Listing Agency:
NVST Real Estate Solutions
(337) 764-6556
Listed By:
Blake Soto · License #995711584
(337) 764-6556
Source:
Lacdb.resimplifi
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 31 at 1:39PM
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 NVST Real Estate Solutions
Investment Insights
Based on property information with market context.
This flex property at 1101 Eraste Landry Rd includes approximately ±1,648 SF of conditioned warehouse area with a 14-foot eave height and expansion capacity up to ±5,200 SF. The improvements also include approximately ±1,436 SF of office space, creating a combination of production, storage, and administrative areas. New interior electrical work and 200-amp, 3-phase service support commercial operations.
The property is in Lafayette along the Eraste Landry corridor, with access to I-10 and Highway 90. The surrounding area includes the University of Louisiana Lafayette and healthcare facilities. IL zoning and the existing warehouse-office configuration support light commercial and service-oriented uses.
The property is in Lafayette along the Eraste Landry corridor, with access to I-10 and Highway 90. The surrounding area includes the University of Louisiana Lafayette and healthcare facilities. IL zoning and the existing warehouse-office configuration support light commercial and service-oriented uses.
Key Highlights
- Approximately ±1,648 SF of conditioned warehouse space
- Warehouse expansion capacity up to ±5,200 SF
- 14’ eave height in the warehouse
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
$38,019
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
7.76%
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%
$760,380
$760.4K
Cap Rate 7%
$543,129
$543.1K
Cap Rate 9%
$422,433
$422.4K
Market Conditions
NOI Build-Up for 6,636 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
$47.0K $7.08/SF
− Vacancy
−$2.3K −$0.34/SF
EGI
$44.7K $6.74/SF
− OpEx
−$6.7K −$1.01/SF
NOI
$38.0K $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%
$760,380
Cap Rate 7%
$543,129
Cap Rate 9%
$422,433
Alternative Uses
Best Use
Office B
$1.10M
$965.3K – $1.29M
NOI $77,223 @ 7.0% cap · market cap 15.76%
Second Best
Warehouse
$543.1K
$475.2K – $633.7K
NOI $38,019 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,828 @ 7.0% cap · market cap 22.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
963
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 Office 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 - Flexible industrial property combines conditioned warehouse space with dedicated offices and IL zoning.
Where is this flex space located?
The property is located at 1101 Eraste Landry Rd Lafayette, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Approximately ±1,648 SF of conditioned warehouse space; Warehouse expansion capacity up to ±5,200 SF; 14’ eave height in the warehouse
