Owner-Occupied Office with Leased
For Sale
$1,200,000
Pending
114 Representative Row, Lafayette, LA 70508
Two connected office buildings offer reception, conference, and private office areas, plus leased income in Building B.
Property Size8,816 SF
Days on Market231
Property Features for 114 Representative Row
General Information
Standard status
Pending
Size
8,816 SF
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2019
Listing Agency:
Your Southern Real Estate Co.
Listed By:
Melissa Trahan · License #995687130
(337) 339-1868
Source:
Exprealty
Added: Jan 20
Changed: Aug 24
Last Checked: Sep 7 at 1:02PM
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 Your Southern Real Estate Co.
Investment Insights
Based on property information with market context.
This owner-occupied professional office property includes two office buildings connected by an interior corridor, allowing the campus to operate as a single cohesive office while still supporting flexibility for separate use. The main building completed a substantial interior renovation in 2019, with raised ceilings, updated flooring, modern lighting, custom cabinetry, upgraded bathrooms, and full electrical, plumbing, and ventilation upgrades. The office layout is designed for professional use and includes a reception area, conference room, and private offices.
The adjacent building has also seen capital improvements, including a new roof, commercial-grade window tinting, sealed windows for improved energy efficiency, and updated HVAC systems. Approximately 2,879 SF in Building B is currently leased, generating income under a month-to-month lease with the tenant showing interest in remaining and openness to a longer-term arrangement at the buyer’s option.
The property is located in Lafayette and provides convenient access to Highway 90 and I-10, as well as Ambassador Caffery Parkway and Kaliste Saloom Road, with Lafayette Regional Airport approximately 10 minutes away.
The adjacent building has also seen capital improvements, including a new roof, commercial-grade window tinting, sealed windows for improved energy efficiency, and updated HVAC systems. Approximately 2,879 SF in Building B is currently leased, generating income under a month-to-month lease with the tenant showing interest in remaining and openness to a longer-term arrangement at the buyer’s option.
The property is located in Lafayette and provides convenient access to Highway 90 and I-10, as well as Ambassador Caffery Parkway and Kaliste Saloom Road, with Lafayette Regional Airport approximately 10 minutes away.
Key Highlights
- Owner‑occupied professional office at 114 & 116 Representative Row in Lafayette, with two connected office buildings via an interior corridor
- Main building renovated in 2019 with raised ceilings, updated flooring, modern lighting, custom cabinetry, upgraded bathrooms, plus electrical, plumbing, and ventilation updates
- Office layout includes reception, a conference room, and private offices
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
$102,592
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
8.55%
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%
$2,051,840
$2.1M
Cap Rate 7%
$1,465,600
$1.5M
Cap Rate 9%
$1,139,911
$1.1M
Market Conditions
NOI Build-Up for 8,816 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
$158.7K $18.00/SF
− Vacancy
−$21.9K −$2.48/SF
EGI
$136.8K $15.52/SF
− OpEx
−$34.2K −$3.88/SF
NOI
$102.6K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /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%
$2,051,840
Cap Rate 7%
$1,465,600
Cap Rate 9%
$1,139,911
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,592 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,908 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
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 - Two connected office buildings offer reception, conference, and private office areas, plus leased income in Building B.
Where is this office building located?
The property is located at 114 Representative Row Lafayette, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Owner‑occupied professional office at 114 & 116 Representative Row in Lafayette, with two connected office buildings via an interior corridor; Main building renovated in 2019 with raised ceilings, updated flooring, modern lighting, custom cabinetry, upgraded bathrooms, plus electrical, plumbing, and ventilation updates; Office layout includes reception, a conference room, and private offices
