Retail with Adjoining
For Sale
$140,000
320 & 320a Center St, New Iberia, LA 70560
Historic retail and stockroom connect to a larger warehouse, with an adjacent lot included for parking and outdoor work.
Property Size2,400 SF
Price / SF$58.33
Days on Market496
Property Features for 320 & 320a Center St
General Information
Standard status
Active
Size
2,400 SF
Listing Agency:
Caffery Real Estate, Inc.
(337) 519-5290
Listed By:
Katie I LaBauve
(337) 519-5290
Source:
Exprealty
Added: Apr 4, 2025
Changed: Jul 10
Last Checked: Aug 11 at 10:51AM
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 Caffery Real Estate, Inc.
Investment Insights
Based on property information with market context.
This historic commercial property combines retail space, a back stockroom, and warehouse space in one usable layout. The building includes approximately 600 square feet of retail area with an adjoining stockroom, transitioning into a larger roughly 1,800 square foot warehouse. That warehouse configuration can support a range of practical uses such as workshop activity, storage, or light industrial operations. An adjacent lot to the right of the building is included, providing additional room for parking, potential expansion, or outdoor workspace.
Located at 320 & 320a Center St in New Iberia, Louisiana, the property is tied to its longtime identity as a local bicycle shop landmark. The current owner also reports receiving calls daily from people seeking bicycle repairs and parts, reflecting continued local interest tied to the site’s prior service role.
For buyers or operators looking for a small-footprint retail front with warehouse capacity behind it, this site offers a straightforward, mixed-use setup. It may also appeal to service-oriented concepts that want to reintroduce a specialty retail and repair model using the existing store-to-warehouse flow. With the included adjacent lot, tenants and owners can plan for customer or employee parking and practical outdoor operations alongside the building.
Located at 320 & 320a Center St in New Iberia, Louisiana, the property is tied to its longtime identity as a local bicycle shop landmark. The current owner also reports receiving calls daily from people seeking bicycle repairs and parts, reflecting continued local interest tied to the site’s prior service role.
For buyers or operators looking for a small-footprint retail front with warehouse capacity behind it, this site offers a straightforward, mixed-use setup. It may also appeal to service-oriented concepts that want to reintroduce a specialty retail and repair model using the existing store-to-warehouse flow. With the included adjacent lot, tenants and owners can plan for customer or employee parking and practical outdoor operations alongside the building.
Key Highlights
- 600 sq. ft. retail space with an adjoining stockroom
- 1,800 sq. ft. warehouse connected for workshop, storage, or light industrial use
- Adjacent lot included for parking and outdoor workspace
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
$12,469
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
8.91%
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%
$249,380
$249.4K
Cap Rate 7%
$178,129
$178.1K
Cap Rate 9%
$138,544
$138.5K
Market Conditions
NOI Build-Up for 2,400 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
$18.7K $7.78/SF
− Vacancy
−$859 −$0.36/SF
EGI
$17.8K $7.42/SF
− OpEx
−$5.3K −$2.23/SF
NOI
$12.5K $5.20/SF
Area
Iberia County, LA
Vacancy
4.60%
Lease Rate
$7.78 /SF/Yr
Expense Ratio
30.00%
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%
$249,380
Cap Rate 7%
$178,129
Cap Rate 9%
$138,544
Alternative Uses
Best Use
Retail
$275.9K
$241.4K – $321.9K
NOI $19,313 @ 7.0% cap · market cap 13.79%
Second Best
Warehouse
$216.3K
$189.3K – $252.4K
NOI $15,141 @ 7.0% cap · market cap 10.82%
Theoretical Best
Office A
$396.9K
$347.3K – $463.1K
NOI $27,786 @ 7.0% cap · market cap 19.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
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?
Flex space - Historic retail and stockroom connect to a larger warehouse, with an adjacent lot included for parking and outdoor work.
Where is this flex space located?
The property is located at 320 & 320a Center St New Iberia, LA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 600 sq. ft. retail space with an adjoining stockroom; 1,800 sq. ft. warehouse connected for workshop, storage, or light industrial use; Adjacent lot included for parking and outdoor workspace
