Renovated Flex Space Near
For Sale
$1,500,000
1450 Surrey St, Lafayette, LA 70501
Combined office and warehouse property with completed improvements and additional areas available for customization.
Property Size13,025 SF
Price / SF$115.16
Days on Market55
Property Features for 1450 Surrey St
General Information
Standard status
Active
Size
13,025 SF
Listing Agency:
Carter Roy Real Estate Group
(337) 789-3037
Listed By:
Shawn P Carter · License #995709983
Source:
Athomerealtyla
Added: Jul 8
Changed: Aug 30
Last Checked: Aug 25 at 4:01AM
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 Carter Roy Real Estate Group
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.
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 = 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
$74,622
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
4.97%
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%
$1,492,440
$1.5M
Cap Rate 7%
$1,066,029
$1.1M
Cap Rate 9%
$829,133
$829.1K
Market Conditions
NOI Build-Up for 13,025 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
$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 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%
$1,492,440
Cap Rate 7%
$1,066,029
Cap Rate 9%
$829,133
Alternative Uses
Best Use
Office B
$2.17M
$1.89M – $2.53M
NOI $151,572 @ 7.0% cap · market cap 10.10%
Second Best
Warehouse
$1.07M
$932.8K – $1.24M
NOI $74,622 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,569 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Audrey's Catering Services — 205 choctaw rd, lafayette, la 70501
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
