Subdivided Flex Space
For Sale
$399,000
502 Pecan Grove Rd, Scott, LA 70583
Steel construction with configurable interior divisions and individually metered electric service.
Property Size7,774 SF
Price / SF$51.32
Days on Market711
Property Features for 502 Pecan Grove Rd
General Information
Standard status
Active
Size
7,774 SF
Property subtype
Office
Additional Details
Utilities to Site
Yes
Clear Span
No
Office Units
4
Amenities
Water
Sewer
Building Details
Year Built
1990
Buildings
1
Construction
steel frame
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Keller Williams Realty Acadiana
(337) 278-3444
Listed By:
Brian Gotreaux · License #0995693775
(337) 278-3444
Source:
Lacdb.resimplifi
Added: Sep 20, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:00PM
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
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.
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 = 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
$32,488
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
8.14%
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%
$649,760
$649.8K
Cap Rate 7%
$464,114
$464.1K
Cap Rate 9%
$360,978
$361.0K
Market Conditions
NOI Build-Up for 7,774 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
$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 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%
$649,760
Cap Rate 7%
$464,114
Cap Rate 9%
$360,978
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,466 @ 7.0% cap · market cap 22.67%
Second Best
Flex RnD
$646.4K
$565.6K – $754.2K
NOI $45,251 @ 7.0% cap · market cap 11.34%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,663 @ 7.0% cap · market cap 32.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
