Office and Flex Space
For Sale
$147,000
129 Landry St, Opelousas, LA 70570
Downtown Opelousas building with a large open front area and a separate rear flex space.
Property Size580 SF
Price / SF$253.45
Days on Market152
Property Features for 129 Landry St
General Information
Standard status
Active
Size
580 SF
Lease Terms
Lease Term
36 months
Flexible Term
Yes
Listing Agency:
Real Broker, LLC
(337) 418-9700
Listed By:
Colby Richard · License #0995688740
(337) 290-3551
Source:
Exprealty
Added: Apr 9
Changed: Sep 3
Last Checked: Sep 6 at 11:01AM
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.
The Jim Bowie Building offers an expansive layout designed around a large, open front area with natural light, supporting flexible office and tenant configurations. In addition to the main front space, there is a spacious rear flex area that can accommodate a variety of back-of-house or supplemental uses.
The property is located directly across from the historic Courthouse Square in downtown Opelousas, providing immediate access to the area’s established commercial center.
Offered for sale, the owner also indicates an available minimum 3-year lease option for the right tenant. The floor plan’s scale is best appreciated in person, and a private tour is recommended to evaluate the space and layout options.
The property is located directly across from the historic Courthouse Square in downtown Opelousas, providing immediate access to the area’s established commercial center.
Offered for sale, the owner also indicates an available minimum 3-year lease option for the right tenant. The floor plan’s scale is best appreciated in person, and a private tour is recommended to evaluate the space and layout options.
Key Highlights
- Downtown Opelousas commercial building across from Historic Courthouse Square
- Large open front area with a flexible layout and natural light
- Separate rear flex space for additional use or layout options
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
$4,437
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
3.02%
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%
$88,740
$88.7K
Cap Rate 7%
$63,386
$63.4K
Cap Rate 9%
$49,300
$49.3K
Market Conditions
NOI Build-Up for 580 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
$7.0K $12.00/SF
− Vacancy
−$1.0K −$1.80/SF
EGI
$5.9K $10.20/SF
− OpEx
−$1.5K −$2.55/SF
NOI
$4.4K $7.65/SF
Area
St. Landry County, LA
Vacancy
15.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
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%
$88,740
Cap Rate 7%
$63,386
Cap Rate 9%
$49,300
Alternative Uses
Best Use
Office B
$63.4K
$55.5K – $74.0K
NOI $4,437 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$87.5K
$76.6K – $102.1K
NOI $6,125 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 70570, LA
38,746
Population
17,099
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
171.8 sq mi
ZIP Area
226
Density / Sq Mi
$45,276
Median Household Income
$33,090
Median Earnings
$764
Median Rent
$151,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Downtown Opelousas building with a large open front area and a separate rear flex space.
Where is this office building located?
The property is located at 129 Landry St Opelousas, LA.
What is the asking price?
The asking price for this property is $147,000.
What are key features of this property?
This property features: Downtown Opelousas commercial building across from Historic Courthouse Square; Large open front area with a flexible layout and natural light; Separate rear flex space for additional use or layout options
