Flex Space With Office And
For Sale
$1,420,000
117 Nolan Rd, Broussard, LA 70518
Climate-controlled offices and insulated warehouse areas accommodate administrative, storage, and daily operating functions.
Property Size10,191 SF
Lot Size0.44 Acres
Price / SF$139.34
Days on Market8
Property Features for 117 Nolan Rd
General Information
Standard status
Active
Size
10,191 SF
Total Parking Spaces
20
Lot size
0.44 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
4,191 SF
Office Build-Out
6,000 SF
Drive-In Doors
3
Amenities
natural gas generator
Building Details
Buildings
1
Building Size
10,191 SF
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Matthew Delcambre · License #995712933
(337) 315-1460
Source:
Exprealty
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 20 at 9:52AM
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 Keaty Real Estate Team
Investment Insights
Based on property information with market context.
This flex property combines approximately 10,191 square feet of office and warehouse improvements. The approximately 6,000-square-foot office component includes a reception area, private offices, conference and meeting rooms, glass-partitioned work areas, kitchen and breakroom space, restrooms, and climate control. The approximately 4,191-square-foot warehouse offers insulation, open work and storage areas, a restroom, and three oversized overhead doors measuring 12 feet by 14 feet. Peak clear height is approximately 18 feet.
The property occupies approximately 19,166 square feet at 117 Nolan Rd in Broussard, with convenient street access and a location just off Highway 90. Approximately 20 concrete parking spaces serve the building. The property carries a Flood Zone X designation and includes a natural gas generator capable of powering the entire building during an outage. The improvements have been carefully maintained and are described as being in very good condition.
The property occupies approximately 19,166 square feet at 117 Nolan Rd in Broussard, with convenient street access and a location just off Highway 90. Approximately 20 concrete parking spaces serve the building. The property carries a Flood Zone X designation and includes a natural gas generator capable of powering the entire building during an outage. The improvements have been carefully maintained and are described as being in very good condition.
Key Highlights
- Approximately 10,191 square feet combining office and warehouse space
- Approximately 6,000‑square‑foot climate‑controlled office component
- Approximately 4,191‑square‑foot insulated warehouse with three overhead doors
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
$118,593
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
8.35%
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%
$2,371,860
$2.4M
Cap Rate 7%
$1,694,186
$1.7M
Cap Rate 9%
$1,317,700
$1.3M
Market Conditions
NOI Build-Up for 10,191 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
$183.4K $18.00/SF
− Vacancy
−$25.3K −$2.48/SF
EGI
$158.1K $15.52/SF
− OpEx
−$39.5K −$3.88/SF
NOI
$118.6K $11.64/SF
Area
Lafayette County, 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%
$2,371,860
Cap Rate 7%
$1,694,186
Cap Rate 9%
$1,317,700
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.98M
NOI $118,593 @ 7.0% cap · market cap 8.35%
Second Best
Flex RnD
$847.4K
$741.5K – $988.7K
NOI $59,319 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,665 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70518, LA
16,683
Population
6,724
Households
2.5
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
41.7 sq mi
ZIP Area
400
Density / Sq Mi
$103,574
Median Household Income
$51,210
Median Earnings
$997
Median Rent
$287,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled offices and insulated warehouse areas accommodate administrative, storage, and daily operating functions.
Where is this flex space located?
The property is located at 117 Nolan Rd Broussard, LA.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: Approximately 10,191 square feet combining office and warehouse space; Approximately 6,000‑square‑foot climate‑controlled office component; Approximately 4,191‑square‑foot insulated warehouse with three overhead doors
