Downtown Office Building with Open
For Sale
$150,000
129 W Landry Street, Opelousas, LA 70570
COMMERCIAL - Opelousas, LA
Property Size580 SF
Lot Size0.08 Acres
Price / SF$258.62
Days on Market130
Property Features for 129 W Landry Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
On Street, Assigned
Exterior features
Partially Fenced
Fencing
Partial
Subdivision
Original Town of Opelousas
Directions
Coming from Lafayette head N on I 49 towards Opelousas. Take exit 19B to merge onto US 190 W towards Opelousas. In 0.3 miles destination will be on the left.
Standard status
Active
APN
0101603800
Size
580 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
1 LOT (35X100) BLK 13 ORIGINAL TOWN OF OPELOUSAS N LANDRY ST S WILSON E LOPEZ & BARSTOW W ELDER & WALKER FRONTING 35' ON LANDRY ST (3485 SQ FT) 1075227
Legal Description
1 LOT (35X100) BLK 13 ORIGINAL TOWN OF OPELOUSAS N LANDRY ST S WILSON E LOPEZ & BARSTOW W ELDER & WALKER FRONTING 35' ON LANDRY ST (3485 SQ FT) 1075227
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
1
Flooring type
Wood
Roof type
Metal
Listing Agency:
Real Broker, LLC
(337) 418-9700
Listed By:
Colby Richard · License #0995688740
(337) 290-3551
Added: Apr 6
Changed: Aug 4
Last Checked: Aug 13 at 10:06AM
MLS# 2600002976
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 129 W Landry Street in Opelousas, this commercial office property is part of the Jim Bowie Building and totals approximately 580 square feet on a 0.08-acre lot. The layout features an expansive front area with an open floor plan designed to accommodate a variety of interior configurations. A spacious flex space is located in the rear, providing additional usable area beyond the main open room.
The building sits directly across from the historic Courthouse Square in downtown Opelousas. Zoning is listed as Commercial.
For buyers, this is a for-sale opportunity in the Jim Bowie Building. The public remarks also note an available minimum 3-year lease option for the right tenant. Prospective parties are encouraged to tour the space to evaluate the scale and layout in person.
The building sits directly across from the historic Courthouse Square in downtown Opelousas. Zoning is listed as Commercial.
For buyers, this is a for-sale opportunity in the Jim Bowie Building. The public remarks also note an available minimum 3-year lease option for the right tenant. Prospective parties are encouraged to tour the space to evaluate the scale and layout in person.
Key Highlights
- Located directly across from the historic Courthouse Square in the Jim Bowie Building in Downtown Opelousas
- Expansive open floor plan in the front area with wood flooring
- Includes a spacious rear flex space for additional use
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
2.96%
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 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$87.5K
$76.6K – $102.1K
NOI $6,125 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
715
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
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Frequently Asked Questions
What type of property is this?
Office units - Office space in the Jim Bowie Building with a large open front area and additional rear flex space.
Where is this office units located?
The property is located at 129 W Landry Street Opelousas, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Located directly across from the historic Courthouse Square in the Jim Bowie Building in Downtown Opelousas; Expansive open floor plan in the front area with wood flooring; Includes a spacious rear flex space for additional use
