Building Details

Year Built 1990

Buildings 1

Construction steel frame

Tenancy Multi

Owner Occupied Yes

Listing Agency: Keller Williams Realty Acadiana

Listed By: Brian Gotreaux · License #0995693775 Show Phone

Source: Lacdb.resimplifi

Added: Sep 20, 2024 Changed: Oct 9 Last Checked: Oct 14 at 7:51PM

Report an Issue

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 Keller Williams Realty Acadiana

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 1990, this 7,774-square-foot flex property is a steel building arranged into four separate units. The interior divisions use non-load-bearing walls, allowing the existing layout to remain in place or be reconfigured for a more open warehouse arrangement.

Unit A contains 2,500 square feet, divided evenly between office and shop space, and is occupied by the seller. Units B, C, and D each contain 1,250 square feet with 150, 200, and 100 square feet of office area, respectively. Units B, C, and D are currently leased. Water service is provided by LUS, electric service is supplied by Entergy, and each unit has its own electric meter. The property also includes an onsite sewer treatment plant.

Key Highlights

• 7,774‑square‑foot steel flex building constructed in 1990
• Four‑unit layout with removable non‑load‑bearing separation walls
• Unit A offers 2,500 square feet with 1,250 square feet of office and 1,250 square feet of shop space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,488

Cap Rate

8.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$649,760 $649.8K

Cap Rate 7%

$464,114 $464.1K

Cap Rate 9%

$360,978 $361.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,774 SF

Gross rent

$46.6K $6.00/SF

− Vacancy

−$233 −$0.03/SF

EGI

$46.4K $5.97/SF

− OpEx

−$13.9K −$1.79/SF

NOI

$32.5K $4.18/SF

Area

Lafayette County, LA

Vacancy

0.50%

Lease Rate

$6.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$649,760

Cap Rate 7%

$464,114

Cap Rate 9%

$360,978

Alternative Uses

Best Use

Office B

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,466 @ 7.0% cap · market cap 22.67%

Second Best

Flex RnD

$646.4K

$565.6K – $754.2K (±1% cap)

NOI $45,251 @ 7.0% cap · market cap 11.34%

Theoretical Best

Office A

$1.84M

$1.61M – $2.14M (±1% cap)

NOI $128,663 @ 7.0% cap · market cap 32.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Pharmacy Spa & Massage Center Parking Lot & Garage Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Office units

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

277

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70583, LA

11,981

Population

4,476

Households

2.7

Avg Household Size

37

Median Age

19%

College-Educated

82%

High-School Grad

28.4 sq mi

ZIP Area

422

Density / Sq Mi

$52,856

Median Household Income

$45,131

Median Earnings

$877

Median Rent

$130,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Office Warehouse Complex with Overhead Doors

125 Raggio Rd, Scott, LA 70583

$1,400,000

13,050 SF

View details

Commercial Space on Ambassador Caffery

403 Ambassador Caffery Parkway, Scott, LA 70583

$1,400,000

13,250 SF

View details

Renovated Warehouse with Bridge Cranes

211 Diesel Dr, Scott, LA 70583

Contact for pricing

26,500 SF

View details

Four-Rental House Multifamily Property

2501 W Willow Street, Scott, LA 70583

$850,000

55.00 Acres

View details

4-Bay Retail Strip Center

400 Westgate Road, Scott, LA 70583

$569,000

4,800 SF

View details

4-Unit Rental Property

902 Domingue Street, Scott, LA 70583

$299,000

3,407 SF

View details

Four-Unit Residential Property

1222 Saint Mary Street, Scott, LA 70583

$225,000

4,048 SF

View details

Multifamily Cottage Community

1001 Apollo Rd, Scott, LA 70583

$3,635,000

17,718 SF

View details

Church Facility with Separate Gym

1610 W Willow St, Scott, LA 70583

$3,000,000

26,400 SF

View details

Mixed-Use Property in Scott, LA

700 Mills Street, Scott, LA 70501

$349,000

4.62 Acres

View details

Grocery-Anchored Shopping Center

5500-5545 Cameron Street, Scott, LA 70583

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Flex space - Steel construction with configurable interior divisions and individually metered electric service.

Where is this flex space located?

The property is located at 502 Pecan Grove Rd Scott, LA.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 7,774‑square‑foot steel flex building constructed in 1990; Four‑unit layout with removable non‑load‑bearing separation walls; Unit A offers 2,500 square feet with 1,250 square feet of office and 1,250 square feet of shop space