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    2209 Richard St Abbeville, LA 70510

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    For Sale
    $1,600,000

    Self-storage facility with warehouse conversion and apartment in Abbeville.

    Property size:
    22,420 SF

    Property Features for 2209 Richard St

    General Information

    Size
    22,420 SF

    Source: Kristen Asman Agent Kristen Asman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Value-Add Storage Facility with Apartment

    Located in the Lafayette MSA, a fast-growing area in Louisiana, this property offers a value-add self-storage opportunity. The facility features 22,100 square feet, including 12,400 square feet of non-climate storage, a newly converted 8,200-square-foot warehouse with 67 climate-controlled units, and a 1,500-square-foot three-bedroom apartment. The property is fully fenced and equipped with a remote management system. Situated in the heart of the Abbeville retail area, it is located behind a Walgreens and next to a nursing home and apartment complex. The location benefits from high traffic, with 17,000 cars passing by daily on Veterans Memorial Drive. The surrounding area has a population of 15,000 within a 3-mile radius. The property is located in Abbeville, the county seat of Vermillion Parish, approximately 150 miles west of New Orleans and 60 miles southwest of Baton Rouge. Abbeville is an agricultural trade and processing center and services oil and natural gas fields in the Gulf of Mexico. The area has a low self-storage saturation rate of 6.7 SF/Capita within a 5-mile radius, indicating potential for growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Abbeville
    County
    Vermilion
    State
    Louisiana
    Longitude
    -92.110225
    Latitude
    29.981144

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    FAQs

    What type of property is this?
    Self storage facility - Self-storage facility with warehouse conversion and apartment in Abbeville.
    Where is this self storage facility located?
    The property is located at 2209 Richard St Abbeville, LA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Brand new conversion of 8,200 SF warehouse into 67 climate-controlled storage units; - Located in the rapidly growing Lafayette MSA; - Low self-storage saturation rate of 6.7 SF/Capita within a 5-mile radius
    (614) 370-9077
    Request Owner's contact information
    2209 Richard St Abbeville, LA 70510
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    Abbeville, LA 70510
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2209 Richard St Abbeville, LA 70510
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