Renovated Multi-Tenant Office
For Sale
$695,000
113-222 E Main St, New Iberia, LA 70560
Completely renovated in 2017 and updated in 2026 with private off-street parking and full occupancy.
Property Size6,840 SF
Price / SF$101.61
Days on Market117
Property Features for 113-222 E Main St
General Information
Standard status
Active
Size
6,840 SF
Listing Agency:
NAI Rampart
(337) 233-9541
Listed By:
Mo E Hannie · License #440000497
(337) 298-4808
Source:
Exprealty
Added: May 14
Changed: Aug 28
Last Checked: Sep 7 at 10:19AM
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 NAI Rampart
Investment Insights
Based on property information with market context.
This stabilized office investment features a renovated multi-tenant configuration with 100% occupancy. The property was completely renovated in 2017 and updated in 2026. Private off-street parking is available on the corner of Weeks and Main Street.
For sale as a fully leased asset, it is presented with in-place rental performance and consistent occupancy. The offering includes NOI described as $76,984 with a 5% vacancy rate and an indicated 11.07% cap rate.
Owner-agent sale details include an emphasized focus on immediate, durable income and long-term stability through the diversified tenant mix referenced in the remarks.
For sale as a fully leased asset, it is presented with in-place rental performance and consistent occupancy. The offering includes NOI described as $76,984 with a 5% vacancy rate and an indicated 11.07% cap rate.
Owner-agent sale details include an emphasized focus on immediate, durable income and long-term stability through the diversified tenant mix referenced in the remarks.
Key Highlights
- Completely renovated in 2017 and updated in 2026
- 100% occupancy / fully leased NOI with a 5% vacancy rate
- Stabilized office investment with an 11.07% cap rate
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
$57,620
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
8.29%
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%
$1,152,400
$1.2M
Cap Rate 7%
$823,143
$823.1K
Cap Rate 9%
$640,222
$640.2K
Market Conditions
NOI Build-Up for 6,840 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
$98.5K $14.40/SF
− Vacancy
−$21.7K −$3.17/SF
EGI
$76.8K $11.23/SF
− OpEx
−$19.2K −$2.81/SF
NOI
$57.6K $8.42/SF
Area
Iberia County, LA
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,152,400
Cap Rate 7%
$823,143
Cap Rate 9%
$640,222
Alternative Uses
Best Use
Office B
$823.1K
$720.3K – $960.3K
NOI $57,620 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$989.9K – $1.32M
NOI $79,191 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Completely renovated in 2017 and updated in 2026 with private off-street parking and full occupancy.
Where is this office building located?
The property is located at 113-222 E Main St New Iberia, LA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Completely renovated in 2017 and updated in 2026; 100% occupancy / fully leased NOI with a 5% vacancy rate; Stabilized office investment with an 11.07% cap rate
