Automotive Service Property with Bay
For Sale
$450,000
401 8th St, Lafayette, LA 70501
Automotive service facility with multiple bay doors, on-site office, and included equipment for hands-on vehicle work.
Property Size3,700 SF
Price / SF$121.62
Days on Market944
Property Features for 401 8th St
General Information
Standard status
Active
Size
3,700 SF
Listing Agency:
Keaty Real Estate Team
(337) 780-9698
Listed By:
Tyler Albrecht · License #0995697749
(337) 780-9698
Source:
Exprealty
Added: Jan 28, 2024
Changed: Aug 20
Last Checked: Aug 26 at 12:16PM
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
Investment Insights
Based on property information with market context.
The property features two buildings designed for automotive service operations. The main building is 70 by 30 feet and includes five spacious bay doors, along with a 200-square-foot office with a bathroom and a 100-square-foot storage room to support daily workflow. A separate white building measuring 40 by 40 feet is also included; it is currently rented, with half of the space used as an office and the other half used as a warehouse.
The asset is offered for sale at 401 8th St in Lafayette, Louisiana. It has been an established automotive business site since 1983, specializing in mufflers and tires, and the sale includes equipment valued at $42,000. Included equipment listed consists of car lifts, tire machines, compressors, welding equipment, and other tools used in vehicle service and repair.
This setup can fit an owner-operator or buyer looking for an automotive-focused facility with functional bays, office space for customer intake or management, and storage for parts and supplies. It also provides the option to continue using the rented building’s office/warehouse configuration while operating service work from the main structure, supported by the included equipment package.
The asset is offered for sale at 401 8th St in Lafayette, Louisiana. It has been an established automotive business site since 1983, specializing in mufflers and tires, and the sale includes equipment valued at $42,000. Included equipment listed consists of car lifts, tire machines, compressors, welding equipment, and other tools used in vehicle service and repair.
This setup can fit an owner-operator or buyer looking for an automotive-focused facility with functional bays, office space for customer intake or management, and storage for parts and supplies. It also provides the option to continue using the rented building’s office/warehouse configuration while operating service work from the main structure, supported by the included equipment package.
Key Highlights
- Main shop building is 2,100 SF (70' x 30') with five spacious bay doors
- Includes a 200 SF office with a bathroom plus a 100 SF storage room
- Separate 1,600 SF (40' x 40') white building is currently rented for $1,000/month
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
$21,198
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
4.71%
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%
$423,960
$424.0K
Cap Rate 7%
$302,829
$302.8K
Cap Rate 9%
$235,533
$235.5K
Market Conditions
NOI Build-Up for 3,700 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
$26.2K $7.08/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$24.9K $6.74/SF
− OpEx
−$3.7K −$1.01/SF
NOI
$21.2K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$423,960
Cap Rate 7%
$302,829
Cap Rate 9%
$235,533
Alternative Uses
Best Use
Retail
$641.0K
$560.9K – $747.9K
NOI $44,872 @ 7.0% cap · market cap 9.97%
Second Best
Warehouse
$302.8K
$265.0K – $353.3K
NOI $21,198 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$874.8K
$765.5K – $1.02M
NOI $61,236 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Well-served
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility with multiple bay doors, on-site office, and included equipment for hands-on vehicle work.
Where is this auto shop located?
The property is located at 401 8th St Lafayette, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Main shop building is 2,100 SF (70' x 30') with five spacious bay doors; Includes a 200 SF office with a bathroom plus a 100 SF storage room; Separate 1,600 SF (40' x 40') white building is currently rented for $1,000/month
