Climate-Controlled Manufacturing and
For Sale
$1,200,000
120 Banks Ave, Lafayette, LA 70506
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 Market146
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: Aug 12 at 12:51PM
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
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,085,860
Cap Rate 7%
$1,489,900
Cap Rate 9%
$1,158,811
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
Current Use
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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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
