CM1-Zoned Commercial
For Sale
$465,000
1803 1809 W University Ave, Lafayette, LA 70506
Two lots with existing buildings support renovation, redevelopment, or build-to-suit planning.
Property Size2,654 SF
Price / SF$175.21
Days on Market19
Property Features for 1803 1809 W University Ave
General Information
Standard status
Active
Size
2,654 SF
Listing Agency:
Weiser Realty & Property Managment, LLC
(337) 351-6299
Listed By:
Asim Baloch · License #995696005
Source:
Athomerealtyla
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 30 at 8:38PM
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 Weiser Realty & Property Managment, LLC
Investment Insights
Based on property information with market context.
This CM1-zoned commercial land offering includes two buildings and two lots totaling 0.433 acres at 1803–1809 W University Ave. The existing improvements can be renovated for retail use, while the site also supports a build-to-suit approach. The property information identifies an additional house next door that may provide rental income.
The site is positioned at a busy intersection along W University Ave, a major Lafayette corridor. Average traffic is reported at over 23,000 cars passing daily, providing substantial movement through the surrounding area. The configuration gives an owner flexibility to retain and improve the existing buildings, pursue retail-oriented redevelopment, or clear the property for new construction.
The site is positioned at a busy intersection along W University Ave, a major Lafayette corridor. Average traffic is reported at over 23,000 cars passing daily, providing substantial movement through the surrounding area. The configuration gives an owner flexibility to retain and improve the existing buildings, pursue retail-oriented redevelopment, or clear the property for new construction.
Key Highlights
- 0.433 acres across two lots
- CM1 zoning
- Two existing buildings included
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
$32,187
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
6.92%
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%
$643,740
$643.7K
Cap Rate 7%
$459,814
$459.8K
Cap Rate 9%
$357,633
$357.6K
Market Conditions
NOI Build-Up for 2,654 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
$50.0K $18.84/SF
− Vacancy
−$4.0K −$1.51/SF
EGI
$46.0K $17.33/SF
− OpEx
−$13.8K −$5.20/SF
NOI
$32.2K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /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%
$643,740
Cap Rate 7%
$459,814
Cap Rate 9%
$357,633
Alternative Uses
Best Use
Retail
$459.8K
$402.3K – $536.5K
NOI $32,187 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.5K
$549.1K – $732.1K
NOI $43,925 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two lots with existing buildings support renovation, redevelopment, or build-to-suit planning.
Where is this commercial land located?
The property is located at 1803 1809 W University Ave Lafayette, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 0.433 acres across two lots; CM1 zoning; Two existing buildings included
