Listing Agency: Real Broker, LLC

Listed By: Shannon L Broussard · License #0995688213 Show Phone

Source: Athomerealtyla

Added: May 25 Changed: Oct 3 Last Checked: Oct 6 at 12:19AM

Report an Issue

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 commercial property offers a functional layout and accessibility, suitable for various professional uses. The space includes 4 private offices, a reception and waiting area, a kitchen or breakroom, and 2 restrooms, supporting both client-facing operations and administrative needs. It is suited for medical or wellness practices, salon or beauty professionals, engineering firms, accounting or bookkeeping services, chiropractic care, counseling or therapy offices, nutritional services, insurance agencies, consulting firms, tutoring services, real estate offices, or other professional and service-based businesses. Located off Eraste Landry Drive and near I-10, the property provides access for clients and staff. The lot offers on-site parking. The property contains 1,261 square feet.

Key Highlights

• Excellent accessibility due to its location just off Eraste Landry Drive and near I‑10.
• Ample on‑site parking on a large lot.
• Functional layout featuring 4 private offices, reception/waiting area, kitchen/breakroom, and 2 restrooms.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,674

Cap Rate

6.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,480 $293.5K

Cap Rate 7%

$209,629 $209.6K

Cap Rate 9%

$163,044 $163.0K

Market Conditions

NOI Build-Up for 1,261 SF

Gross rent

$22.7K $18.00/SF

− Vacancy

−$3.1K −$2.48/SF

EGI

$19.6K $15.52/SF

− OpEx

−$4.9K −$3.88/SF

NOI

$14.7K $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 Rate 5%

$293,480

Cap Rate 7%

$209,629

Cap Rate 9%

$163,044

Alternative Uses

Best Use

Office B

$209.6K

$183.4K – $244.6K (±1% cap)

NOI $14,674 @ 7.0% cap · market cap 6.52%

Second Best

Healthcare Medical

$204.3K

$178.8K – $238.3K (±1% cap)

NOI $14,300 @ 7.0% cap · market cap 6.36%

Theoretical Best

Office A

$298.1K

$260.9K – $347.8K (±1% cap)

NOI $20,870 @ 7.0% cap · market cap 9.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Apex Prevention Physician Hebert Jennifer Foster Care Service Wellness Express, LLC Gym & Fitness Center

Suggested Use

Top Pick Dental Office Law Firm (Bike/Boat/Book/etc) Store Real Estate Agency Barber Shop Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

586

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

First-Floor Office Unit

130 Rue Beauregard Ste B, Lafayette, LA 70508

$277,500

1,672 SF

View details

Ground-Level Office Unit

412 W University Avenue, Lafayette, LA 70506

$145,000

1,000 SF

View details

Ground-Floor Office Unit

104-412 University Ave, Lafayette, LA 70503

$145,000

1,000 SF

View details

Office Building with Drive-Thru Potential

1414 Se Evangeline Trwy, Lafayette, LA 70501

$225,000

2,255 SF

View details

Corner Office Unit

100 Sunset Dr, Lafayette, LA 70501

$129,900

1,836 SF

View details

Renovated Multi-Office Building

100 W Pine Street, Lafayette, LA 70501

$230,000

3,200 SF

View details

Professional Office Condo

140 Rue Beauregard, Lafayette, LA 70508

$395,000

2,348 SF

View details

Flex Space with Warehouse and Offices

3121 Cameron Street, Lafayette, LA 70506

$218,000

5,700 SF

View details

Downtown Office Suite with Parking

718 S Buchanan St, Lafayette, LA 70501

Contact for pricing

1,500 SF

View details

Medical and Professional Office

134 Jomela Dr, Lafayette, LA 70503

$600,000

3,400 SF

View details

Flex Space with Warehouse

339 S Buchanan St, Lafayette, LA 70501

$420,000

4,370 SF

View details

Two-Building Flex Space Property

201 Marcon Dr, Lafayette, LA 70507

$425,000

5,000 SF

View details

Similar Off Market Nearby

• SpayNation for Dogs & Cats — 1640 N Bertrand Dr, Lafayette, LA 70506

Frequently Asked Questions

What type of property is this?

Medical Office Space - Functional layout, excellent accessibility, ideal for professional uses.

Where is this medical office space located?

The property is located at 207 N Luke St Lafayette, LA.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Excellent accessibility due to its location just off Eraste Landry Drive and near I‑10.; Ample on‑site parking on a large lot.; Functional layout featuring 4 private offices, reception/waiting area, kitchen/breakroom, and 2 restrooms.**