Drug Store
For Sale
$3,900,000
111 Westgate Road, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size15,381 SF
Lot Size1.96 Acres
Price / SF$253.56
Days on Market654
Property Features for 111 Westgate Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM-1 (COMMERCIA
Parking features
Parking Lot
Directions
Ambassador Caffery toward I-10 , left at Cameron St, left at 1st light. in Scott onto Westgate Rd, property is on the left.
Subdivision
G3
Standard status
Active
APN
6042006
Size
15,381 SF
Lot size
1.96 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
SEC 29 T9S R4E (0.522 AC)(05-20623) SEC 29 T9S R4E (180X118)(05-20624) LOT 1-B (1.901 AC) LOTS 2A & 2D (05-20624) OFFORD LEBLANC SUB (CVS PHARMACY)
Legal Description
SEC 29 T9S R4E (0.522 AC)(05-20623) SEC 29 T9S R4E (180X118)(05-20624) LOT 1-B (1.901 AC) LOTS 2A & 2D (05-20624) OFFORD LEBLANC SUB (CVS PHARMACY)
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Flooring type
Tile
Building materials
Frame
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Jeff Landry · License #995682229
(337) 257-5380
Added: Jan 7, 2025
Changed: Oct 23
Last Checked: Oct 23 at 8:06PM
MLS# 25000218
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 15,381-square-foot drug store property occupies a 1.96-acre parcel at 111 Westgate Road in Lafayette, Louisiana. The frame building has tile flooring, central air conditioning, and a parking lot. A national tenant currently occupies the property.
The site is next to the West Village TND Development. Public water and sewer serve the property, and natural gas is available.
The site is next to the West Village TND Development. Public water and sewer serve the property, and natural gas is available.
Key Highlights
- 15,381 square feet on a 1.96‑acre parcel
- Occupied by a national tenant
- Frame construction with tile flooring and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,860
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,997,200
$4.0M
Cap Rate 7%
$2,855,143
$2.9M
Cap Rate 9%
$2,220,667
$2.2M
Market Conditions
NOI Build-Up for 15,381 SF
Gross rent
$289.8K $18.84/SF
− Vacancy
−$23.3K −$1.51/SF
EGI
$266.5K $17.33/SF
− OpEx
−$66.6K −$4.33/SF
NOI
$199.9K $12.99/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,997,200
Cap Rate 7%
$2,855,143
Cap Rate 9%
$2,220,667
Alternative Uses
Best Use
Specialty Retail
$2.86M
$2.50M – $3.33M
NOI $199,860 @ 7.0% cap · market cap 5.12%
Second Best
Retail
$2.66M
$2.33M – $3.11M
NOI $186,536 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$3.64M
$3.18M – $4.24M
NOI $254,562 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Well-served
Demand for This Use
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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
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Christoper F. Pritchett, RPH — 111 Westgate Rd, Lafayette, LA 70506
- CVS — 111 Westgate Rd, Lafayette, LA 70506
- Myles R. Stelly, Pharm — 111 Westgate Rd, Lafayette, LA 70506
- Son Hoang — 111 Westgate Rd, Lafayette, LA 705062710
- CVS Pharmacy — 111 Westgate Rd, Lafayette, LA 70506, United States
Frequently Asked Questions
What type of property is this?
Drug store - A national tenant occupies the building, with on-site parking and central air conditioning.
Where is this drug store located?
The property is located at 111 Westgate Road Lafayette, LA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 15,381 square feet on a 1.96‑acre parcel; Occupied by a national tenant; Frame construction with tile flooring and central air
