Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    118 N Main Street Opelousas, LA 70570

    View on Map
    Claim this Listing
    For Sale
    $99,000

    COMMERCIAL - Opelousas, LA

    Property size:
    50,873 SF
    Lot size:
    1.88 Acres
    Price / SF:
    $1.95/SF
    Added:
    Jun 25, 2024
    Days on Market:
    681
    Last Refresh:
    May 6 at 9:06 am

    Property Features for 118 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMERCIAL
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Exterior features
    OH Door > 20 Ft
    Standard status
    Active
    APN
    0100350800
    Size
    50,873 SF
    Lot size
    1.88 Acres

    Taxes and HOA fees

    Tax Description
    1 LOT BLK 3 N NORTH ST S BELLEVUE ST E UNION ST W MAIN ST CONSISTING OF OF ONE (1) BLOCK OPELOUSAS ORIG TOWN (59677 SQ

    Utilities

    Water source
    Public

    Building Details

    Flooring type
    Concrete

    We can help!

    Listing Contact
    Daphne Gaspard

    Listing agent Daphne Gaspard License #0995700379

    Listing office Real Broker, LLC 516 Creswell Lane, Opelousas, LA

    Listing date Jun 25, 2024

    MLS# 24006036

    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.

    Overview

    Downtown Opelousas Commercial Land Block

    This is a commercial land property located in downtown Opelousas, Louisiana. The property, zoned for downtown mixed use, comprises one full block with an area of approximately 50,000 square feet, which is equivalent to 1.88 acres. The property is located at 118 N Main Street, Opelousas, LA 70570, in St. Landry County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Auto Parts Store HVAC Service Grocery & Convenience Store Car Rental Facility Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Opelousas
    County
    St. Landry
    State
    Louisiana
    Longitude
    -92.080953
    Latitude
    30.534697

    Nearby Similar for Sale

    • $399,000
      8,823 SF

      Opelousas Commercial Property For Sale

      Versatile commercial building with office suites and climate-controlled warehouse.
      1604 Kerr Street, Opelousas, LA 70570
      View Details
    • $269,000
      2,949 SF

      Opelousas Commercial Building For Sale

      Versatile commercial building on busy Main St in Opelousas, LA.
      822 S Main Street, Opelousas, LA 70570
      View Details
    • $375,000
      5,343 SF

      Opelousas Commercial Property For Sale

      5,343 SF commercial building on 1.06 acres in Opelousas.
      2614 S Union Street, Opelousas, LA 70570
      View Details
    • $298,000
      3,361 SF

      Victorian Office Building or Venue

      Charming 1925 building with offices, parking, and event potential.
      613 S Main Street, Opelousas, LA 70570
      View Details
    • $175,000
      3,420 SF

      Opelousas Commercial Building For Sale

      Turnkey 3,420 sq. ft. commercial building in Opelousas, LA.
      232 E Leonard Avenue, Opelousas, LA 70570
      View Details
    • $35,000

      Opelousas Corner Investment Opportunity

      High-visibility corner lot in Opelousas, ideal for development.
      427 Grolee St., Opelousas, LA 70570
      View Details
    • $150,000
      580 SF

      Iconic Jim Bowie Building Opportunity

      Spacious commercial property in the heart of Downtown Opelousas.
      129 W Landry Street, Opelousas, LA 70570
      View Details
    • $110,000
      1,500 SF

      Opelousas Commercial Building For Sale

      1,500 sq ft commercial building in Opelousas's NMU District.
      523 S Main Street, Opelousas, LA 70570
      View Details
    • $590,000
      6,400 SF

      Income-Producing Multi-Family Property

      Two fourplexes with townhome-style layouts, ideal for steady cash flow.
      5758/5766 Hwy. 182, Opelousas, LA 70570
      View Details
    • $230,000
      3,106 SF

      Opelousas Commercial Property For Sale

      Commercial property on 2.8 acres with expansion potential.
      720 Mccarthy Lane, Opelousas, LA 70570
      View Details
    • $250,000
      4,516 SF

      Opelousas Medical Office Building

      Updated medical office building with tenant in place, great investment.
      828 Creswell Lane, Opelousas, LA 70570
      View Details
    • $139,900
      9,800 SF

      Opelousas Commercial Property For Sale

      Commercial property with frontage on Hwy 190 West.
      606 W Landry Street, Opelousas, LA 70570
      View Details

    FAQs

    What type of property is this?
    Commercial land - Large commercial land block in downtown Opelousas, Louisiana.
    Where is this commercial land located?
    The property is located at 118 N Main Street Opelousas, LA.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Full city block in downtown Opelousas; Prime location for business; Approximately 50,000 sq ft of space
    (337) 849-5095
    We can help!
    Listing Contact
    Daphne Gaspard
    Real Estate License ID: 0995700379
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    118 N Main Street, Opelousas, LA 70570
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!