Bank Building With Drive-Through
For Sale
$126,900
1137 N Main Street, Opelousas, LA 70570
COMMERCIAL - Opelousas, LA
Property Size842 SF
Price / SF$150.71
Days on Market948
Property Features for 1137 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
20
Exterior features
Pole Sign
Lot features
Level
Directions
I 49 N. to Opelousas exit 19B, go west on Hwy 190 then right on N Union Street. Union will curve to the left after the Catholic Church and you will turn right on (LA 182) N Main. The building is on the left next to the Dollar Tree.
Subdivision
L2
Standard status
Active
APN
0102834500
Size
842 SF
Taxes and HOA fees
Tax Description
1 LOT (96.1X135.75) N MILLSPAUGH S W YAMBILEE COURTS E HIGHWAY
Legal Description
1 LOT (96.1X135.75) N MILLSPAUGH S W YAMBILEE COURTS E HIGHWAY
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
vault
cathedral ceiling
Building Details
Floors in Building
1
Flooring type
Tile
Roof type
Composition
Listing Agency:
RE/MAX Excellence
(337) 678-3663
Listed By:
Toni L Effingger · License #0995680712
(337) 793-5738
Added: Jan 17, 2024
Changed: Aug 4
Last Checked: Aug 22 at 4:06PM
MLS# 24000457
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 842-square-foot commercial building at 1137 N Main Street in Opelousas is classified as a bank property and currently operates as a barber shop. The interior features an open-concept layout, cathedral ceiling, tile flooring, one bathroom, and a secure vault. Two drive-through windows and built-in transaction drawers retain features associated with its former bank substation use.
The property is zoned Commercial and includes a pole sign, central heating and central air, public water, and a composition roof. Exterior improvements include a roof replacement, fresh exterior paint, and a privacy fence completed in 2022. Its compact layout and specialized banking features provide a distinct commercial configuration for continued or revised use.
The property is zoned Commercial and includes a pole sign, central heating and central air, public water, and a composition roof. Exterior improvements include a roof replacement, fresh exterior paint, and a privacy fence completed in 2022. Its compact layout and specialized banking features provide a distinct commercial configuration for continued or revised use.
Key Highlights
- 842‑square‑foot commercial building at 1137 N Main Street, Opelousas, LA 70570
- Two drive‑through windows and built‑in drawers designed for money handling
- Secure vault, cathedral ceiling, and open‑concept interior
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
$8,174
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
6.44%
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%
$163,480
$163.5K
Cap Rate 7%
$116,771
$116.8K
Cap Rate 9%
$90,822
$90.8K
Market Conditions
NOI Build-Up for 842 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
$11.6K $13.80/SF
− Vacancy
−$720 −$0.86/SF
EGI
$10.9K $12.94/SF
− OpEx
−$2.7K −$3.24/SF
NOI
$8.2K $9.71/SF
Area
St. Landry County, LA
Vacancy
6.20%
Lease Rate
$13.80 /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%
$163,480
Cap Rate 7%
$116,771
Cap Rate 9%
$90,822
Alternative Uses
Best Use
Specialty Retail
$116.8K
$102.2K – $136.2K
NOI $8,174 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$83.7K
$73.2K – $97.6K
NOI $5,856 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$127.0K
$111.2K – $148.2K
NOI $8,892 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 70570, LA
38,746
Population
17,099
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
171.8 sq mi
ZIP Area
226
Density / Sq Mi
$45,276
Median Household Income
$33,090
Median Earnings
$764
Median Rent
$151,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Bank - Commercially zoned building with an open interior, secure vault, and existing barber shop use.
Where is this bank located?
The property is located at 1137 N Main Street Opelousas, LA.
What is the asking price?
The asking price for this property is $126,900.
What are key features of this property?
This property features: 842‑square‑foot commercial building at 1137 N Main Street, Opelousas, LA 70570; Two drive‑through windows and built‑in drawers designed for money handling; Secure vault, cathedral ceiling, and open‑concept interior
