Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2003 N University Ave Lafayette, LA 70507

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    0.44 acre commercial land near I-10 and I-49.

    Lot size:
    0.44 Acres

    Property Features for 2003 N University Ave

    General Information

    Standard status
    Active
    Lot size
    0.44 Acres

    We can help!

    Listing Contact
    Justin Gauthreaux
    Source: Exprealty

    Listing Agency: exp realty, llc Listing Agent: Justin Gauthreaux

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Fronting N University Ave

    This 0.44-acre commercial land is located on N University Ave, approximately 2 minutes from I-10 and 5 minutes from I-49.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.032923
    Latitude
    30.231446

    Nearby Similar for Sale

    • $450,000
      3,060 SF

      Mid-Century Modern Office Building

      First-class office building in the Oil Center, Lafayette.
      133 S Audubon Blvd, Lafayette, LA 70503
      View Details
    • $825,000
      3,476 SF

      Historic Downtown Lafayette Commercial Property

      Renovated historic commercial property in downtown Lafayette with rental income.
      120 Caillouett Pl, Lafayette, LA 70501
      View Details
    • New
      $425,000
      3,900 SF

      Downtown Lafayette Commercial Property

      Prime commercial property in downtown Lafayette with office and warehouse space.
      310 S Buchanan St, Lafayette, LA 70501
      View Details
    • $749,000
      4,281 SF

      Historic Office Building, Lafayette

      Historic office building in Downtown Lafayette, ideal for professional use.
      814 S Washington St, Lafayette, LA 70501
      View Details
    • $460,000
      3,700 SF

      Established Automotive Business Opportunity

      Well-equipped automotive business with strong reputation in Lafayette, Louisiana.
      401 8Th St, Lafayette, LA 70501
      View Details
    • New
      $495,000
      4,094 SF

      High-Visibility Commercial Building on Thruway

      4,000+ sq ft commercial building on high-traffic corner lot.
      418 SW Evangeline Dr, Lafayette, LA 70501
      View Details
    • New
      $699,000
      4,200 SF

      Mixed-Use Building in Lafayette, LA

      Mixed-use building with income potential in a high-visibility location.
      2807 Kaliste Saloom Rd, Lafayette, LA 70508
      View Details
    • $325,000
      3,000 SF

      Vermilion River Office Condominium

      Two-story office space in Waterwood Office Park.
      241 La Rue France, Lafayette, LA 70508
      View Details
    • New
      $1,100,000
      11,600 SF

      Versatile Commercial Facility in Lafayette

      11,600 SF commercial space suitable for various business operations.
      312 Westgate Rd, Lafayette, LA 70506
      View Details
    • $900,000
      2,380 SF

      Lafayette Medical Office Building

      Well-kept medical office near hospitals and retailers for sale.
      324 E Farrel Rd, Lafayette, LA 70508
      View Details
    • New
      $440,000
      2,295 SF

      Restaurant with Drive-Thru in Lafayette

      Fully operational restaurant with drive-thru in high-traffic area.
      1322 Moss Street Ext, Lafayette, LA 70501
      View Details
    • New
      $335,000
      Pending

      Downtown Lafayette Commercial Brick Building

      Versatile 4,364 SF building in the heart of Downtown Lafayette.
      1306 Jefferson St, Lafayette, LA 70501
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.44 acre commercial land near I-10 and I-49.
    Where is this commercial land located?
    The property is located at 2003 N University Ave Lafayette, LA.
    What are key features of this property?
    This property features: - 0.44 Acres Fronting N University Ave; - 2 minutes from I-10; - 5 minutes from I-49
    (337) 298-0072
    Request Owner's contact information
    2003 N University Ave Lafayette, LA 70507
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2003 N University Ave
    Lafayette, LA 70507
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2003 N University Ave Lafayette, LA 70507
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin Gauthreaux
    (337) 298-0072 (941) 462-3321
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!