Freestanding Office
New
For Sale
$490,000
216 La Rue France, Lafayette, LA 70508
Brick professional office property with reception, conference, break-room, and private work areas.
Property Size2,400 SF
Price / SF$204.17
Days on Market4
Property Features for 216 La Rue France
General Information
Standard status
Active
Size
2,400 SF
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
covered front porch
covered back porch
wet bar
fireplace
window nooks
Building Details
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Realty Acadiana
Listed By:
Ivan Jennings · License #995702198
(337) 298-0889
Source:
Athomerealtyla
Added: Sep 20
Changed: Sep 22
Last Checked: Sep 22 at 6:16PM
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.
This 2,400 SF freestanding brick office building provides a practical layout for professional operations. Interior features include stained concrete flooring, a reception area, primary conference room, full break room, two restrooms, six private offices, and a separate area configured with four built-in cubicle workstations. An expansive great room with display shelving is complemented by window nooks, a wet bar, fireplace, and dedicated copy and storage areas.
The property is located at 216 La Rue France in Lafayette, with covered front and rear porches, a private driveway, and an asphalt parking lot for employees and visitors. Central HVAC and city utilities support daily occupancy.
The property is located at 216 La Rue France in Lafayette, with covered front and rear porches, a private driveway, and an asphalt parking lot for employees and visitors. Central HVAC and city utilities support daily occupancy.
Key Highlights
- 2,400 SF freestanding brick office building
- Six private offices plus four built‑in cubicle workstations
- Reception area, conference room, break room, and two restrooms
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
$27,929
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
5.70%
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%
$558,580
$558.6K
Cap Rate 7%
$398,986
$399.0K
Cap Rate 9%
$310,322
$310.3K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$6.0K −$2.48/SF
EGI
$37.2K $15.52/SF
− OpEx
−$9.3K −$3.88/SF
NOI
$27.9K $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%
$558,580
Cap Rate 7%
$398,986
Cap Rate 9%
$310,322
Alternative Uses
Best Use
Office B
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,873
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Office building - Brick professional office property with reception, conference, break-room, and private work areas.
Where is this office building located?
The property is located at 216 La Rue France Lafayette, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,400 SF freestanding brick office building; Six private offices plus four built‑in cubicle workstations; Reception area, conference room, break room, and two restrooms
