Former Car Dealership Redevelopment
For Sale
Contact for pricing
1456 SURREY ST, Lafayette, LA 70501
Former dealership property with a sizable warehouse building and mostly stabilized concrete yard for vehicle- and equipment-focused operations.
Property Size2,500 SF
Lot Size0.95 Acres
Price / SF$240
Days on Market102
Property Features for 1456 SURREY ST
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.95 Acres
Property subtype
Retail
Zoning
CH
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Units
1
Listing Agency:
Beacon Realty, LLC
Listed By:
Burton Richard · License #995700828
Source:
Crexi
Added: May 29
Changed: Aug 13
Last Checked: Sep 6 at 11:17PM
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 Beacon Realty, LLC
Investment Insights
Based on property information with market context.
This former car dealership property includes a ±12,500 SF building and a ±10.95-acre site. The majority of the outdoor area is stabilized with existing concrete surfacing, supporting immediate utility for vehicle sales, equipment storage, contractor operations, fleet services, or other commercial uses that benefit from hardstand parking and staging. The building and site are presented as an adaptable setup for owner-users, redevelopment, or buyers evaluating an industrial or automotive-aligned configuration.
The property is positioned in a highly accessible corridor near the airport and US Hwy 90. With strong visibility and easy access emphasized in the offering, the site is designed for practical day-to-day operations and convenient customer or workforce movement. The surrounding area includes activity associated with a newly developed amphitheater nearby, adding to the overall commercial context.
For tenants or buyers seeking a property that can support vehicle-related or storage-heavy business models, the concrete-stabilized yard and established dealership layout can help reduce initial operational friction. It may also fit redevelopment scenarios where an owner wants a large, already-improved site with an existing building in place rather than starting from raw land. Overall, the combination of a substantial enclosed space and a mostly stabilized outdoor yard supports a range of flexible commercial applications.
The property is positioned in a highly accessible corridor near the airport and US Hwy 90. With strong visibility and easy access emphasized in the offering, the site is designed for practical day-to-day operations and convenient customer or workforce movement. The surrounding area includes activity associated with a newly developed amphitheater nearby, adding to the overall commercial context.
For tenants or buyers seeking a property that can support vehicle-related or storage-heavy business models, the concrete-stabilized yard and established dealership layout can help reduce initial operational friction. It may also fit redevelopment scenarios where an owner wants a large, already-improved site with an existing building in place rather than starting from raw land. Overall, the combination of a substantial enclosed space and a mostly stabilized outdoor yard supports a range of flexible commercial applications.
Key Highlights
- Former car dealership property with a 2,500 SF building on 0.95 acres
- Most of the site is stabilized with existing concrete surfacing for vehicle and equipment use
- Commercial site layout suited for vehicle sales, equipment storage, contractor operations, or fleet services
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
$30,319
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
5.05%
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%
$606,380
$606.4K
Cap Rate 7%
$433,129
$433.1K
Cap Rate 9%
$336,878
$336.9K
Market Conditions
NOI Build-Up for 2,500 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
$47.1K $18.84/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$43.3K $17.33/SF
− OpEx
−$13.0K −$5.20/SF
NOI
$30.3K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$606,380
Cap Rate 7%
$433,129
Cap Rate 9%
$336,878
Alternative Uses
Best Use
Retail
$433.1K
$379.0K – $505.3K
NOI $30,319 @ 7.0% cap · market cap 5.05%
Second Best
Warehouse
$204.6K
$179.0K – $238.7K
NOI $14,323 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$591.1K
$517.2K – $689.6K
NOI $41,376 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- University Self Storage — 209 Lucille Ave, Lafayette, LA 70501
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- Lpss Warehouse — Lafayette, LA 70508
- Lafayette Parish Sheriff’s Office Marine Building — 110 Grissom Dr, Lafayette, LA 70508
Frequently Asked Questions
What type of property is this?
Warehouse - Former dealership property with a sizable warehouse building and mostly stabilized concrete yard for vehicle- and equipment-focused operations.
Where is this warehouse located?
The property is located at 1456 SURREY ST Lafayette, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Former car dealership property with a 2,500 SF building on 0.95 acres; Most of the site is stabilized with existing concrete surfacing for vehicle and equipment use; Commercial site layout suited for vehicle sales, equipment storage, contractor operations, or fleet services
