Medical Office
For Sale
$1,350,000
121 Rue Louis XIV, Lafayette, LA 70508
Two leased medical office suites support an established professional-use configuration.
Property Size3,900 SF
Price / SF$346.15
Days on Market350
Property Features for 121 Rue Louis XIV
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Gross Income
$76,941
Office Units
2
Building Details
Tenancy
Multi
Listing Agency:
Bridgewater Realty Advisors
(504) 812-5330
Listed By:
Richard Romano · License #47933
(504) 812-5330
Source:
Lacdb.resimplifi
Added: Sep 17, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:37PM
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 Bridgewater Realty Advisors
Investment Insights
Based on property information with market context.
This 3,900-square-foot medical office duplex at 121 Rue Louis XIV in Lafayette, Louisiana, contains two suites occupied by doctors’ office tenants. The building is configured for professional medical use, with Unit A having 2 years remaining on its lease and Unit B having 4 years remaining. Both leases are identified as NNN, with renewal options available for each unit.
Unit A includes two 3-year renewal options, while Unit B includes one 1-year renewal option. The owner-paid items identified for the property are security camera service and termite prevention treatment. The asset provides a two-suite medical office configuration within a single building.
Unit A includes two 3-year renewal options, while Unit B includes one 1-year renewal option. The owner-paid items identified for the property are security camera service and termite prevention treatment. The asset provides a two-suite medical office configuration within a single building.
Key Highlights
- 3,900‑square‑foot medical office duplex
- Two suites occupied by doctors’ office tenants
- Unit A lease has 2 years remaining with two 3‑year renewal options
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
$45,384
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
3.36%
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%
$907,680
$907.7K
Cap Rate 7%
$648,343
$648.3K
Cap Rate 9%
$504,267
$504.3K
Market Conditions
NOI Build-Up for 3,900 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
$70.2K $18.00/SF
− Vacancy
−$9.7K −$2.48/SF
EGI
$60.5K $15.52/SF
− OpEx
−$15.1K −$3.88/SF
NOI
$45.4K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$907,680
Cap Rate 7%
$648,343
Cap Rate 9%
$504,267
Alternative Uses
Best Use
Office B
$648.3K
$567.3K – $756.4K
NOI $45,384 @ 7.0% cap · market cap 3.36%
Second Best
Healthcare Medical
$631.8K
$552.8K – $737.1K
NOI $44,226 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$922.1K
$806.8K – $1.08M
NOI $64,547 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two leased medical office suites support an established professional-use configuration.
Where is this medical office space located?
The property is located at 121 Rue Louis XIV Lafayette, LA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,900‑square‑foot medical office duplex; Two suites occupied by doctors’ office tenants; Unit A lease has 2 years remaining with two 3‑year renewal options
