Downtown Storefront with Development
New
For Sale
$889,000
123 E Convent Street, Lafayette, LA 70501
A commercial building is paired with adjoining cleared parcels currently surfaced for parking.
Property Size3,752 SF
Price / SF$236.94
Days on Market4
Property Features for 123 E Convent Street
General Information
Standard status
Active
Size
3,752 SF
Zoning
Downtown (D)
Site & Location
Road Frontage
150 ft
Road Access
Yes
Additional Details
Land Use
commercial
Amenities
access gates
Building Details
Buildings
1
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Tyler Albrecht · License #0995697749
(337) 780-9698
Source:
Exprealty
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:07AM
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 Keaty Real Estate Team
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 123 E. Convent Street, a 3,752-square-foot commercial building is part of a three-parcel assemblage. Two adjoining sites are cleared and currently graveled for parking, with new access gates in place.
The property has 150 feet of frontage on East Convent Street and is zoned Downtown (D). The building and adjoining land provide distinct components within a downtown Lafayette location.
The property has 150 feet of frontage on East Convent Street and is zoned Downtown (D). The building and adjoining land provide distinct components within a downtown Lafayette location.
Key Highlights
- Three contiguous parcels, including a 3,752 SF commercial building
- Two adjoining cleared parcels are graveled for parking
- 150 feet of continuous frontage on East Convent Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,503
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,060
$910.1K
Cap Rate 7%
$650,043
$650.0K
Cap Rate 9%
$505,589
$505.6K
Market Conditions
NOI Build-Up for 3,752 SF
Gross rent
$70.7K $18.84/SF
− Vacancy
−$5.7K −$1.51/SF
EGI
$65.0K $17.33/SF
− OpEx
−$19.5K −$5.20/SF
NOI
$45.5K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,060
Cap Rate 7%
$650,043
Cap Rate 9%
$505,589
Alternative Uses
Best Use
Retail
$650.0K
$568.8K – $758.4K
NOI $45,503 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.1K
$776.2K – $1.03M
NOI $62,097 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,299
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Roy-al Flowers & Gifts — 401 W University Ave, Lafayette, LA 70506
- Root Floral Design — 810 Jefferson St, Lafayette, LA 70501
- Flowers Etc — 1803 W University Ave, Lafayette, LA 70506
- Tommy's Downtown Flower Market — 220 Duclos St, Lafayette, LA 70506
- Preservation Press — 526 St John St, Lafayette, LA 70501
Frequently Asked Questions
What type of property is this?
Storefront property - A commercial building is paired with adjoining cleared parcels currently surfaced for parking.
Where is this storefront property located?
The property is located at 123 E Convent Street Lafayette, LA.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Three contiguous parcels, including a 3,752 SF commercial building; Two adjoining cleared parcels are graveled for parking; 150 feet of continuous frontage on East Convent Street
