Flex Space with Grade-Level
For Sale
$5,250,000
1407 Surrey St, Lafayette, LA 70501
The property combines private offices, service areas, bay access, and an apartment within a large commercial facility.
Property Size34,000 SF
Lot Size3.84 Acres
Price / SF$154.41
Days on Market232
Property Features for 1407 Surrey St
General Information
Standard status
Active
Size
34,000 SF
Lot size
3.84 Acres
Property subtype
Industrial
Zoning
CH and CH(c)
Additional Details
Highway Access
Yes
Amenities
conference rooms
break areas
Power
Water
Sewer
Building Details
Building Size
34,000 SF
Listing Agency:
Beacon Realty
(337) 654-1973
Listed By:
Burton Richard
(337) 654-1973
Source:
Lacdb.resimplifi
Added: Jan 9
Changed: Aug 28
Last Checked: Aug 28 at 6:52AM
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 Beacon Realty
Investment Insights
Based on property information with market context.
The property includes a ±34,000 SF office and warehouse facility on ±3.84 acres, with a layout that combines private offices, conference rooms, break areas, restrooms, and expansive warehouse and service areas. Multiple grade-level bay doors and on-site parking support the existing commercial improvements, while the included residential apartment adds space for company or management use. The facility was formerly operated as a Honda dealership and retains automotive-related infrastructure.
Located at 1407 Surrey St in Lafayette, the property is approximately ±0.9 miles from U.S. Highway 90 and minutes from Lafayette Regional Airport. Zoning is CH and CH(c). The existing configuration provides a substantial flex-space platform for automotive, industrial, service, retail, or redevelopment applications identified in the property information.
Located at 1407 Surrey St in Lafayette, the property is approximately ±0.9 miles from U.S. Highway 90 and minutes from Lafayette Regional Airport. Zoning is CH and CH(c). The existing configuration provides a substantial flex-space platform for automotive, industrial, service, retail, or redevelopment applications identified in the property information.
Key Highlights
- ±34,000 SF office and warehouse facility on ±3.84 acres
- Multiple grade‑level bay doors with expansive warehouse and service areas
- Private offices, conference rooms, break areas, and 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
$395,658
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
7.54%
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%
$7,913,160
$7.9M
Cap Rate 7%
$5,652,257
$5.7M
Cap Rate 9%
$4,396,200
$4.4M
Market Conditions
NOI Build-Up for 34,000 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
$612.0K $18.00/SF
− Vacancy
−$84.5K −$2.48/SF
EGI
$527.5K $15.52/SF
− OpEx
−$131.9K −$3.88/SF
NOI
$395.7K $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%
$7,913,160
Cap Rate 7%
$5,652,257
Cap Rate 9%
$4,396,200
Alternative Uses
Best Use
Office B
$5.65M
$4.95M – $6.59M
NOI $395,658 @ 7.0% cap · market cap 7.54%
Second Best
Warehouse
$2.78M
$2.43M – $3.25M
NOI $194,791 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$8.04M
$7.03M – $9.38M
NOI $562,714 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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 - The property combines private offices, service areas, bay access, and an apartment within a large commercial facility.
Where is this flex space located?
The property is located at 1407 Surrey St Lafayette, LA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: ±34,000 SF office and warehouse facility on ±3.84 acres; Multiple grade‑level bay doors with expansive warehouse and service areas; Private offices, conference rooms, break areas, and restrooms
