Mixed-Use Manufacturing and Warehouse
For Sale
$1,200,000
120 Banks Avenue, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size18,204 SF
Lot Size1.21 Acres
Price / SF$65.92
Days on Market218
Property Features for 120 Banks Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IL
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 2
Parking
65
Parking features
Parking Lot
Lot features
Level
Directions
From I-10 Head southeast on Exit 100, Turn right onto US-167, Turn left onto US-90 E, Turn right onto Banks Ave. Building will be on your right.
Subdivision
G3
Standard status
Active
APN
6045923
Size
18,204 SF
Lot size
1.21 Acres
Additional Details
Property Use
Manufacturing and Warehouse
Taxes and HOA fees
Tax Description
Lots 10 11 12 Blk 1 Roy Estates (300X150) Adjacent Strip Of Land (50X150) (More/Less) (Between Lots 12 & 13)
Tax Annual Amount
7000
Legal Description
Lots 10 11 12 Blk 1 Roy Estates (300X150) Adjacent Strip Of Land (50X150) (More/Less) (Between Lots 12 & 13)
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
boardroom
employee break area
Building Details
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Real Broker, LLC
(337) 534-0555
Listed By:
Robbie Breaux · License #76395
(337) 658-5690
Added: Mar 20
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2600002319
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 18,204-square-foot mixed-use facility brings office and industrial functions together on a 1.21-acre parcel. More than 2,000 square feet is dedicated to office space, including a 400-square-foot boardroom overlooking production. The building also contains more than 6,000 square feet of climate-controlled manufacturing space with upgraded electrical systems and compressed air, a warehouse exceeding 5,300 square feet, and a 2,400-square-foot garage and workshop with roll-up access. An additional management office sits within the manufacturing area. Employee amenities include a kitchen, lounge, and storage area exceeding 1,000 square feet, along with five restrooms.
Four roll-up doors serve the facility, which has approximately 350 feet of road frontage and is about three minutes from I-10. The site is in Flood Zone X and has IL zoning. Parking includes 25 striped spaces, with room to expand to approximately 65. Public water and sewer are available, and natural gas service is available.
Four roll-up doors serve the facility, which has approximately 350 feet of road frontage and is about three minutes from I-10. The site is in Flood Zone X and has IL zoning. Parking includes 25 striped spaces, with room to expand to approximately 65. Public water and sewer are available, and natural gas service is available.
Key Highlights
- 18,204 square feet on 1.21 acres
- More than 6,000 square feet of climate‑controlled manufacturing area with upgraded electrical systems and compressed air
- More than 2,000 square feet of office space, including a 400 square foot boardroom overlooking production
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,293
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,085,860
$2.1M
Cap Rate 7%
$1,489,900
$1.5M
Cap Rate 9%
$1,158,811
$1.2M
Market Conditions
NOI Build-Up for 18,204 SF
Gross rent
$128.9K $7.08/SF
− Vacancy
−$6.2K −$0.34/SF
EGI
$122.7K $6.74/SF
− OpEx
−$18.4K −$1.01/SF
NOI
$104.3K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,085,860
Cap Rate 7%
$1,489,900
Cap Rate 9%
$1,158,811
Alternative Uses
Best Use
Mixed Use
$3.00M
$2.63M – $3.50M
NOI $210,256 @ 7.0% cap · market cap 17.52%
Second Best
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,293 @ 7.0% cap · market cap 8.69%
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.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, climate-controlled production, warehouse, and workshop areas are combined within one industrially zoned property.
Where is this mixed-use property located?
The property is located at 120 Banks Avenue 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 square feet on 1.21 acres; More than 6,000 square feet of climate‑controlled manufacturing area with upgraded electrical systems and compressed air; More than 2,000 square feet of office space, including a 400 square foot boardroom overlooking production
