Flex Space with Bridge
For Sale
$1,050,000
Pending
1416 S Hugh Wallis Road, Lafayette, LA 70508
Commercial Sale, Lafayette, LA
Property Size7,350 SF
Lot Size0.68 Acres
Days on Market211
Property Features for 1416 S Hugh Wallis Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IL
Parking
20
Parking features
Off Street
Security features
Security System
Exterior features
OH Door 10 - 15 Ft, OH Door 16 - 20 Ft, Partially Fenced, Stabilized Yard Base
Fencing
Partial
Subdivision
Enterprise Pk
Lot features
Level
Directions
From Verot School Rd and South Hugh Wallis Rd, travel on S Hugh Wallis Rd for 0.4 miles. Building is on the left.
Standard status
Pending
APN
6115203
Size
7,350 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Description
Lot 1 Enterprise Park (0.678 ac)
Legal Description
Lot 1 Enterprise Park (0.678 ac)
Utilities
Heating system
Zoned, Central, Electric (Heating)
Cooling system
Zoned, Central Air
Water source
Public
Amenities
conference room
kitchen/break area
laboratory room
dedicated server room
locking storm shutters
climate-controlled bays
overhead bridge crane
blacklight inspection room
heavy-duty storage racking
Building Details
Floors in Building
2
Flooring type
Tile - Ceramic, Concrete, Tile
Building materials
Stucco
Roof type
Metal
Listing Agency:
Arceneaux Real Estate, LLC
(337) 322-8300
Listed By:
Paul Arceneaux · License #995719154
(337) 262-7873
Added: Feb 10
Changed: Sep 8
Last Checked: Sep 9 at 5:06AM
MLS# 2600000774
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story flex property contains 7,350 square feet, including approximately 4,650 square feet of office area and 2,700 square feet of climate-controlled shop space. The office component provides 20 private offices, a conference room, two restrooms, a kitchen and break area, laboratory space, and a server room. Two climate-controlled shop bays each have a roll-up overhead door; one includes a 5-ton overhead bridge crane and blacklight inspection room, while the other offers additional storage racking and a third restroom. Locking storm shutters, a metal roof, public water, zoned electric heating and central air, and off-street parking are also included.
The property occupies 0.68 acres at 1416 S Hugh Wallis Road in Lafayette, Louisiana, with access to the U.S. Highway 90 corridor and the airport. IL zoning, a partially fenced site, and a stabilized yard base complement the building’s office, shop, laboratory, and storage configuration.
The property occupies 0.68 acres at 1416 S Hugh Wallis Road in Lafayette, Louisiana, with access to the U.S. Highway 90 corridor and the airport. IL zoning, a partially fenced site, and a stabilized yard base complement the building’s office, shop, laboratory, and storage configuration.
Key Highlights
- 7,350‑square‑foot two‑story flex building with approximately 4,650 square feet of office space
- Approximately 2,700 square feet of climate‑controlled shop area in two bays
- One shop bay includes a 5‑ton overhead bridge crane and blacklight inspection room
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
$85,532
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
8.15%
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%
$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
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
$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 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%
$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
Warehouse
$601.6K
$526.4K – $701.8K
NOI $42,109 @ 7.0% cap · market cap 4.01%
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
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-story office and industrial facility with climate-controlled work areas, private offices, and specialized operational infrastructure.
Where is this flex space located?
The property is located at 1416 S Hugh Wallis Road 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 building with approximately 4,650 square feet of office space; Approximately 2,700 square feet of climate‑controlled shop area in two bays; One shop bay includes a 5‑ton overhead bridge crane and blacklight inspection room
