Climate-Controlled Manufacturing and
120 Banks Ave Lafayette, LA 70506
For Sale
$1,200,000
Purpose-built facility with office space, climate-controlled production area, and multiple roll-up doors for logistics.
Property Size18,204 SF
Price / SF$65.92
Days on Market133
Property Features for 120 Banks Ave
General Information
Standard status
Active
Size
18,204 SF
Listing Agency:
Real Broker, LLC
(337) 658-5690
Listed By:
Robbie Breaux · License #76395
(337) 658-5690
Source:
Exprealty
Added: Mar 20
Changed: Jul 10
Last Checked: Jul 29 at 6:07PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This facility totals +/-18,204 SF and is laid out to support manufacturing, storage, distribution, and on-site management. The property includes 2,000+ SF of professional office space plus a 400 SF boardroom overlooking the production floor. Manufacturing is 6,000+ SF and climate-controlled, with upgraded electrical systems and compressed air. A 5,300+ SF warehouse area complements production, and a 2,400+ SF garage/workshop offers roll-up access. Additional amenities include a dedicated office within the manufacturing area, a 1,000+ SF employee area with kitchen, lounge, and storage, and five restrooms throughout the building.
Access and logistics are supported by four roll-up doors and approximately 350 feet of road frontage. The property is described as about three minutes to I-10, with 25 striped parking spaces and the ability to expand to approximately 65.
Zoned IL, the building is positioned for a range of industrial and commercial uses. It is located in Flood Zone X and Census Tract 6.02. While not in a designated Enterprise Zone, the remarks note that buyers may still qualify for Louisiana Enterprise Zone incentives based on job creation and employee eligibility, with buyer verification.
Access and logistics are supported by four roll-up doors and approximately 350 feet of road frontage. The property is described as about three minutes to I-10, with 25 striped parking spaces and the ability to expand to approximately 65.
Zoned IL, the building is positioned for a range of industrial and commercial uses. It is located in Flood Zone X and Census Tract 6.02. While not in a designated Enterprise Zone, the remarks note that buyers may still qualify for Louisiana Enterprise Zone incentives based on job creation and employee eligibility, with buyer verification.
Key Highlights
- ±18,204 SF facility with 2,000+ SF professional office, 400 SF boardroom, and a 6,000+ SF climate‑controlled manufacturing area
- Climate‑controlled production includes upgraded electrical systems and compressed air, plus dedicated on‑site management office within manufacturing
- 5,300+ SF warehouse and a 2,400+ SF garage/workshop with roll‑up access
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.9k | $7.08 |
| − Vacancy | −$6.2k | −$0.34 |
| EGI | $122.7k | $6.74 |
| − OpEx | −$18.4k | −$1.01 |
| NOI | $104.3k | $5.73 |
18,204 SF · lease $7.08/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,293 @ 7.0% cap · market cap 8.69%
Second Best
Industrial
$1.23M
$1.07M – $1.43M
NOI $85,889 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$4.30M
$3.77M – $5.02M
NOI $301,283 @ 7.0% cap · market cap 25.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Purpose-built facility with office space, climate-controlled production area, and multiple roll-up doors for logistics.
Where is this flex space located?
The property is located at 120 Banks Ave 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: ±18,204 SF facility with 2,000+ SF professional office, 400 SF boardroom, and a 6,000+ SF climate‑controlled manufacturing area; Climate‑controlled production includes upgraded electrical systems and compressed air, plus dedicated on‑site management office within manufacturing; 5,300+ SF warehouse and a 2,400+ SF garage/workshop with roll‑up access
