Two-Story Office
For Sale
$599,000
1603 W Pinhook Rd, Lafayette, LA 70508
Two-story office building with ample parking, located near the Vermillion River and zoned CH.
Property Size4,435 SF
Price / SF$135.06
Days on Market92
Property Features for 1603 W Pinhook Rd
General Information
Standard status
Active
Size
4,435 SF
Class
B
Property subtype
Office
Zoning
CH
Amenities
ample parking
Building Details
Building Size
4,435 SF
Stories
2
Listing Agency:
Elifin Realty Lafayette
(501) 513-7394
Listed By:
Mark Johns · License #995715972
(501) 513-7394
Source:
Elifinrealty
Added: Jun 2
Changed: Aug 8
Last Checked: Sep 1 at 4:34PM
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 Elifin Realty Lafayette
Investment Insights
Based on property information with market context.
1603 W Pinhook Rd is a two-story office building now available for sale or lease. The property totals approximately 4,435 SF and includes ample parking for employees and visitors. The roof was replaced last year.
The building is located near the Vermillion River and is about 6 minutes from LFT. Nearby amenities include Girard Park and Bon Temps Grill.
The property is zoned CH – Commercial Heavy, supporting a range of commercial uses consistent with that classification.
The building is located near the Vermillion River and is about 6 minutes from LFT. Nearby amenities include Girard Park and Bon Temps Grill.
The property is zoned CH – Commercial Heavy, supporting a range of commercial uses consistent with that classification.
Key Highlights
- ±4,435 SF two‑story office building at 1603 W Pinhook Rd
- Zoned CH – Commercial Heavy
- Ample parking on‑site
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
$51,610
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
8.62%
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%
$1,032,200
$1.0M
Cap Rate 7%
$737,286
$737.3K
Cap Rate 9%
$573,444
$573.4K
Market Conditions
NOI Build-Up for 4,435 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
$79.8K $18.00/SF
− Vacancy
−$11.0K −$2.48/SF
EGI
$68.8K $15.52/SF
− OpEx
−$17.2K −$3.88/SF
NOI
$51.6K $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 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%
$1,032,200
Cap Rate 7%
$737,286
Cap Rate 9%
$573,444
Alternative Uses
Best Use
Office B
$737.3K
$645.1K – $860.2K
NOI $51,610 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.5K – $1.22M
NOI $73,401 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
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 - Two-story office building with ample parking, located near the Vermillion River and zoned CH.
Where is this office building located?
The property is located at 1603 W Pinhook Rd Lafayette, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: ±4,435 SF two‑story office building at 1603 W Pinhook Rd; Zoned CH – Commercial Heavy; Ample parking on‑site
