1108 N University Ave Lafayette, LA 70506
1.42 acre commercial site suitable for retail or automotive use.
- Added:
- Jul 15, 2024
- Days on Market:
- 728
- Last Refresh:
- Jun 30 at 3:45 am
Property Features for 1108 N University Ave
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Lot size
- 1.42 Acres
Listing office Bajat Realty, LLC (337) 658-2584
Listing date Jul 15, 2024
Source Exprealty
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 Bajat Realty, LLC
Investment Insights
Based on property information with market context.
Key Highlights
- Excellent commercial site on a hard corner zoned CH (Commercial Highway) with potential for various uses.
- Prime location: Centrally located, 1/2 mile from I‑10 and I‑49, adjacent to the new Truman Early Childhood Education Center.
- Substantial 1.42‑acre site with a 10,000 sq ft main building currently operating as an established auto paint & body shop.
Local Financial Insights For Retail
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 | $188.4k | $18.84 |
| − Vacancy | −$15.1k | −$1.51 |
| EGI | $173.3k | $17.33 |
| − OpEx | −$52.0k | −$5.20 |
| NOI | $121.3k | $12.13 |
Alternative Uses
Property Analytics
Current Use by Public Records
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