Listing Agency: Carter Roy Real Estate Group

Listed By: Shawn P Carter · License #995709983 Show Phone

Source: Athomerealtyla

Added: Jul 8 Changed: Sep 14 Last Checked: Oct 7 at 1:20PM

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Investment Insights

Based on property information with market context.

This flex property contains 13,025 square feet of combined office and warehouse space. Portions of the building have been renovated, while other areas remain adaptable for future improvements or reconfiguration. The property is currently 85% tenant occupied, providing an existing operating component for an owner or investor.

Located at 1450 Surrey St, the building is near the Lafayette airport and just off Hwy 90, with access to Lafayette and Broussard. Its office-and-warehouse configuration supports a range of commercial functions, while the mix of completed work and customizable areas offers flexibility for continued occupancy or property updates.

Key Highlights

• 13,025 square feet of combined office and warehouse space
• 85% tenant occupied
• Renovations completed in portions of the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,622

Cap Rate

4.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,492,440 $1.5M

Cap Rate 7%

$1,066,029 $1.1M

Cap Rate 9%

$829,133 $829.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,025 SF

Gross rent

$92.2K $7.08/SF

− Vacancy

−$4.4K −$0.34/SF

EGI

$87.8K $6.74/SF

− OpEx

−$13.2K −$1.01/SF

NOI

$74.6K $5.73/SF

Area

Lafayette, LA

Vacancy

4.80%

Lease Rate

$7.08 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,492,440

Cap Rate 7%

$1,066,029

Cap Rate 9%

$829,133

Alternative Uses

Best Use

Office B

$2.17M

$1.89M – $2.53M (±1% cap)

NOI $151,572 @ 7.0% cap · market cap 10.10%

Second Best

Warehouse

$1.07M

$932.8K – $1.24M (±1% cap)

NOI $74,622 @ 7.0% cap · market cap 4.97%

Theoretical Best

Office A

$3.08M

$2.69M – $3.59M (±1% cap)

NOI $215,569 @ 7.0% cap · market cap 14.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Pharmacy HVAC Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

347

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Combined office and warehouse property with completed improvements and additional areas available for customization.

Where is this flex space located?

The property is located at 1450 Surrey St Lafayette, LA.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 13,025 square feet of combined office and warehouse space; 85% tenant occupied; Renovations completed in portions of the property