Two-Story Flex
For Sale
$1,050,000
1416 S Hugh Wallis Rd, Lafayette, LA 70508
Office and climate-controlled shop areas support professional, industrial, research, and service-related operations.
Property Size7,350 SF
Price / SF$142.86
Days on Market90
Property Features for 1416 S Hugh Wallis Rd
General Information
Standard status
Active
Size
7,350 SF
Additional Details
Highway Access
Yes
Office Build-Out
4,650 SF
Amenities
private offices
conference room
kitchen/break area
laboratory room
server room
blacklight inspection room
locking storm shutters
Building Details
Buildings
1
Stories
2
Building Size
7,350 SF
Listing Agency:
Arceneaux Real Estate, LLC
Listed By:
Paul Arceneaux · License #995719154
(337) 322-8300
Source:
Athomerealtyla
Added: Jul 10
Changed: Sep 23
Last Checked: Oct 6 at 12:04AM
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 Arceneaux Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2002, this two-story flex facility combines professional office space with climate-controlled shop areas. The 7,350-square-foot building includes approximately 4,650 square feet of offices and 2,700 square feet of shop space. Office improvements include 20 private offices, a conference room, two restrooms, a kitchen and break area, laboratory space, and a dedicated server room.
The shop area provides two climate-controlled bays with roll-up overhead doors. One bay has a 5-ton overhead bridge crane and blacklight inspection room, while the other includes a third restroom and heavy-duty storage racking. Locking storm shutters add security and storm protection. The property offers access to the U.S. Highway 90 corridor and the airport, with a configuration suited to engineering, industrial, professional services, technology, research, and service-related operations.
The shop area provides two climate-controlled bays with roll-up overhead doors. One bay has a 5-ton overhead bridge crane and blacklight inspection room, while the other includes a third restroom and heavy-duty storage racking. Locking storm shutters add security and storm protection. The property offers access to the U.S. Highway 90 corridor and the airport, with a configuration suited to engineering, industrial, professional services, technology, research, and service-related operations.
Key Highlights
- 7,350‑square‑foot two‑story flex facility built in 2002
- Approximately 4,650 SF of office space and 2,700 SF of climate‑controlled shop space
- Office area includes 20 private offices, conference room, laboratory, server room, kitchen/break area, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,532
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,710,640
$1.7M
Cap Rate 7%
$1,221,886
$1.2M
Cap Rate 9%
$950,356
$950.4K
Market Conditions
NOI Build-Up for 7,350 SF
Gross rent
$132.3K $18.00/SF
− Vacancy
−$18.3K −$2.48/SF
EGI
$114.0K $15.52/SF
− OpEx
−$28.5K −$3.88/SF
NOI
$85.5K $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 Rate 5%
$1,710,640
Cap Rate 7%
$1,221,886
Cap Rate 9%
$950,356
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.43M
NOI $85,532 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$495.4K
$433.5K – $578.0K
NOI $34,678 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,645 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Well-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and climate-controlled shop areas support professional, industrial, research, and service-related operations.
Where is this flex space located?
The property is located at 1416 S Hugh Wallis Rd Lafayette, LA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 7,350‑square‑foot two‑story flex facility built in 2002; Approximately 4,650 SF of office space and 2,700 SF of climate‑controlled shop space; Office area includes 20 private offices, conference room, laboratory, server room, kitchen/break area, and two restrooms
