Remodeled Downtown Office
For Sale
$399,000
145 W Main Street, New Iberia, LA 70560
COMMERCIAL - New Iberia, LA
Property Size4,018 SF
Price / SF$99.30
Days on Market916
Property Features for 145 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
On Street
Security features
Security System
Exterior features
Door Sign
Directions
Main street New Iberia past plaza, corner of Main and French street. Building on left.Sign on property.
Subdivision
I2
Standard status
Active
APN
0500481501
Size
4,018 SF
Taxes and HOA fees
Tax Description
1-50x92 W Main St, Cestia, Amentor, Longhorn Leasing Being Defined by subject to the boundary wall
Legal Description
1-50x92 W Main St, Cestia, Amentor, Longhorn Leasing Being Defined by subject to the boundary wall
Utilities
Heating system
Natural Gas, Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
bathroom and kitchen areas
Building Details
Floors in Building
1
Flooring type
Tile, Wood, Concrete
Listing Agency:
McGeeScott Realty
(337) 735-4040
Listed By:
Linell Champagne · License #995680034
(337) 254-8891
Added: Feb 8, 2024
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 24001233
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 for-sale commercial office building features two separate units within a newly remodeled downtown structure. Each unit includes its own bathroom and kitchen areas, supporting independent office use and tenant privacy. Updates called out in the property remarks include fresh paint throughout, new flooring, fixtures, and the installation of separate electrical meters. Additional building systems include a TPO roof estimated to be about 12 years old, with a furnace updated in 2021 and an AC unit dated 2016.
The property is located at 145 W Main Street in New Iberia, Louisiana, within C-2 zoning. It is currently tenant occupied, which may be of interest to investors seeking an income-producing asset.
For tenants, the layout of two self-contained office units with private kitchen and bathroom facilities can support a range of professional uses. For buyers and investors, the presence of separate electrical metering and the documented 2022 interior improvements provide a practical basis for ongoing operation as-is, while the split-unit configuration offers flexibility in how the property can be managed.
The property is located at 145 W Main Street in New Iberia, Louisiana, within C-2 zoning. It is currently tenant occupied, which may be of interest to investors seeking an income-producing asset.
For tenants, the layout of two self-contained office units with private kitchen and bathroom facilities can support a range of professional uses. For buyers and investors, the presence of separate electrical metering and the documented 2022 interior improvements provide a practical basis for ongoing operation as-is, while the split-unit configuration offers flexibility in how the property can be managed.
Key Highlights
- Income‑producing commercial building in a downtown historical setting with 2 separate units, currently tenant occupied
- Unit sizes include 2,660 SF and 1,358 SF; both units have their own kitchen and bathroom areas
- 2022 updates included fresh paint, new flooring and fixtures, and separate electrical meters installed
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
$33,848
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
8.48%
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%
$676,960
$677.0K
Cap Rate 7%
$483,543
$483.5K
Cap Rate 9%
$376,089
$376.1K
Market Conditions
NOI Build-Up for 4,018 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
$57.9K $14.40/SF
− Vacancy
−$12.7K −$3.17/SF
EGI
$45.1K $11.23/SF
− OpEx
−$11.3K −$2.81/SF
NOI
$33.8K $8.42/SF
Area
Iberia County, LA
Vacancy
22.00%
Lease Rate
$14.40 /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%
$676,960
Cap Rate 7%
$483,543
Cap Rate 9%
$376,089
Alternative Uses
Best Use
Office B
$483.5K
$423.1K – $564.1K
NOI $33,848 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.6K
$581.5K – $775.3K
NOI $46,519 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
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?
Office units - Two tenant-ready office units with private kitchens and bathrooms in a recently updated downtown building.
Where is this office units located?
The property is located at 145 W Main Street New Iberia, 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: Income‑producing commercial building in a downtown historical setting with 2 separate units, currently tenant occupied; Unit sizes include 2,660 SF and 1,358 SF; both units have their own kitchen and bathroom areas; 2022 updates included fresh paint, new flooring and fixtures, and separate electrical meters installed
