Flex Space with Loading
For Sale
$1,500,000
1450 Surrey Street, Lafayette, LA 70501
Commercial Sale, Lafayette, LA
Property Size13,025 SF
Lot Size2.00 Acres
Price / SF$115.16
Days on Market174
Property Features for 1450 Surrey Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CH
Parking features
On Street, Covered
Security features
Security System
Exterior features
Loading Dock/Well, OH Door 10 - 15 Ft, Partially Fenced
Fencing
Partial
Lot features
Level
Directions
Evangeline Thwy South towards Broussard. Left on Surrey. Property is on the left.
Subdivision
H
Standard status
Active
APN
6026747
Size
13,025 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Description
Sec 76 T9S R5E (2 AC)
Legal Description
Sec 76 T9S R5E (2 AC)
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air, Attic Fan
Water source
Public
Building Details
Flooring type
Concrete, Carpet - Full, Tile
Roof type
Metal
Listing Agency:
Carter Roy Real Estate Group
(337) 465-9615
Listed By:
Shawn P Carter · License #995709983
(337) 789-3037
Added: Mar 20
Changed: Sep 8
Last Checked: Sep 9 at 3:06AM
MLS# 2600002357
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 13,025-square-foot flex property combines office and warehouse areas on a 2-acre site. The improvements include a loading dock or well, an overhead door measuring 10–15 feet, partial fencing, and a metal roof. Interior finishes include concrete, carpet, and tile, with central heating, central air, ceiling fans, and an attic fan. Covered and on-street parking are available, and the property is served by public water.
The property is located at 1450 Surrey Street in Lafayette, near the Lafayette airport and just off Hwy 90. It is approximately 85% tenant occupied, providing an existing occupancy component alongside areas that have received renovations and other spaces suitable for further customization. CH zoning is in place.
The property is located at 1450 Surrey Street in Lafayette, near the Lafayette airport and just off Hwy 90. It is approximately 85% tenant occupied, providing an existing occupancy component alongside areas that have received renovations and other spaces suitable for further customization. CH zoning is in place.
Key Highlights
- 13,025 square feet of combined office and warehouse space
- 2‑acre site with CH zoning
- Approximately 85% tenant occupied
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
Lease Details
85%
Occupancy
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse improvements with partial occupancy, flexible finish levels, and access to public water.
Where is this flex space located?
The property is located at 1450 Surrey Street 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; 2‑acre site with CH zoning; Approximately 85% tenant occupied
