Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2211 Richard St Abbeville, LA 70510

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,600,000

    Value-add self-storage facility in Lafayette MSA with conversion opportunity.

    Property size:
    22,420 SF
    Lot size:
    1.90 Acres

    Property Features for 2211 Richard St

    General Information

    Size
    22,420 SF
    Lot size
    1.90 Acres

    We can help!

    Listing Contact
    Kristen Asman
    Kristen Asman
    Source: Moodyscre

    Listing Agent: Kristen Asman

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

    Learn more

    Property Insight Report

    Overview

    Simple Storage in Abbeville Retail

    Simple Storage is a value-add self-storage facility located in the Lafayette MSA, the fastest-growing area in Louisiana. The property is situated in the heart of the Abbeville retail area, behind Walgreens and next to a nursing home and apartment complex. The facility features 22,100 square feet, including 12,400 square feet of non-climate storage, a new 8,200 square foot warehouse conversion with 67 climate-controlled units, and a 1,500 square foot 3-bedroom apartment. The property is fully fenced and equipped with a remote management system and a manual gate. The location benefits from a low self-storage saturation rate of 6.7 SF/Capita within a 5-mile radius, offering great potential with its prime location and conversion opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Acadiana Logistics Logistics Service Simple Storage Abbeville ... Self-Storage Facility

    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

    Nearby Similar for Sale

    • $675,000
      3,840 SF

      Abbeville Retail/Warehouse Opportunity

      Retail and warehouse space in the heart of Abbeville.
      726 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
    • $695,000
      4,710 SF

      Abbeville Commercial Building on Acreage

      Versatile 4710 sq ft building on 8.5+ acres.
      7612 Us Highway 167, Abbeville, LA 70510
      View Details
    • $2,000,000
      19.52 Acres

      Abbeville Land For Sale

      19.52 acre commercial land suitable for assisted living community.
      100 Palms Hospital Dr, Abbeville, LA 70510
      View Details
    • $175,000
      3,000 SF

      Restaurant with Living Quarters

      Functional drive-in restaurant with attached living quarters in Abbeville.
      901 Charity St, Abbeville, LA 70510
      View Details
    • $750,000
      4,018 SF

      Highway 167 Commercial Property

      Versatile commercial property on 1.63 acres, Highway 167.
      7720 Hwy 167, Abbeville, LA 70510
      View Details
    • $348,000
      3,152 SF

      Versatile Mid-Century Commercial Property

      Renovated two-story property in historic Abbeville, suitable for various businesses.
      509 E Saint Victor St, Abbeville, LA 70510
      View Details
    • $100,000
      1,897 SF

      Abbeville Triplex Investment Property

      Fully rented triplex in Abbeville, Louisiana. Great investment opportunity.
      118 N Guegnon St, Abbeville, LA 70510
      View Details
    • $525,000
      30,000 SF

      30,000 SF Pavilion on 5 Acres

      Pavilion-style building ideal for storage, logistics, and warehousing.
      1100 N Airport Rd, Abbeville, LA 70510
      View Details
    • $695,000

      Highway 167 Commercial Building

      Commercial building with high visibility, multiple uses, and ample parking.
      7612 Us Highway 167, Abbeville, LA 70510
      View Details
    • $2,067,000
      2,016 SF

      New Starbucks with Drive-Thru

      New construction Starbucks with drive-thru and corporate guarantee.
      2207 Veterans Memorial Dr, Abbeville, LA 70510
      View Details
    • $245,000

      Industrial Office/Warehouse with Upgrades

      8635 sq ft industrial space with office and upgrades.
      211 Myrtle St, Abbeville, LA 70510
      View Details
    • $175,000

      Drive-In Restaurant with Living Quarters

      Drive-in restaurant with attached living quarters on a busy street.
      901 Charity St, Abbeville, LA 70510
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Value-add self-storage facility in Lafayette MSA with conversion opportunity.
    Where is this self storage facility located?
    The property is located at 2211 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: - Value-add self-storage facility with conversion opportunity.; - Prime location in the heart of the Abbeville retail area.; - New 8,200 SF warehouse conversion with 67 climate-controlled units.
    (614) 944-5140
    Request Owner's contact information
    2211 Richard St Abbeville, LA 70510
    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.
    2211 Richard St
    Abbeville, LA 70510
    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
    2211 Richard St Abbeville, LA 70510
    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

    We can help!
    Listing Contact
    Kristen Asman
    Kristen Asman
    Real Estate License ID: #658012934
    (614) 944-5140
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.