1608 Creswell Ln Ext, Opelousas, LA 70570

Building Details

Tenancy Single More

Listing Agency: Cushman & Wakefield - Phoenix, Arizona

Listed By: Chris Hollenbeck · License LA SA584876000 Show Phone

Source: Crexi

Added: Oct 14 Changed: Nov 8 Last Checked: Nov 10 at 8:57AM

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Investment Insights

Based on property information with market context.

The ±32,863-square-foot furniture showroom occupies ±4.73 acres at 1608 Creswell Lane Extension in Opelousas, Louisiana. Ashley HomeStore has occupied the property since rent commencement on January 9, 2019. The absolute NNN lease is guaranteed by Dufresne Spencer Group Holdings, LLC and expires January 31, 2031, with four five-year renewal options. Beginning February 1, 2027, annual rent increases are based on the lesser of 1.375% or 1.25x CPI.

The property is adjacent to Interstate 49, which carries approximately 39,789 vehicles per day. Opelousas is approximately 25 miles north of Lafayette, and the stated trade area includes approximately 29,581 residents within five miles.

Key Highlights

• ±32,863‑square‑foot Ashley HomeStore showroom on ±4.73 acres
• Absolute NNN lease with no landlord responsibilities
• Lease expires January 31, 2031; four five‑year renewal options

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$228,569

Cap Rate

6.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,571,380 $4.6M

Cap Rate 7%

$3,265,271 $3.3M

Cap Rate 9%

$2,539,656 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 32,863 SF

Gross rent

$354.9K $10.80/SF

− Vacancy

−$28.4K −$0.86/SF

EGI

$326.5K $9.94/SF

− OpEx

−$98.0K −$2.98/SF

NOI

$228.6K $6.96/SF

Area

St. Landry County, LA

Vacancy

8.00%

Lease Rate

$10.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,571,380

Cap Rate 7%

$3,265,271

Cap Rate 9%

$2,539,656

Alternative Uses

Best Use

Retail

$3.27M

$2.86M – $3.81M (±1% cap)

NOI $228,569 @ 7.0% cap · market cap 6.58%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.96M

$4.34M – $5.78M (±1% cap)

NOI $347,033 @ 7.0% cap · market cap 9.99%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Building Supply Gym & Fitness Center 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.

Lease Details

39,789 VPD

Traffic count

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

364

Businesses Nearby

Explore this area Business Placement

Demographics for 70570, LA

38,746

Population

17,099

Households

2.3

Avg Household Size

39

Median Age

15%

College-Educated

82%

High-School Grad

171.8 sq mi

ZIP Area

226

Density / Sq Mi

$45,276

Median Household Income

$33,090

Median Earnings

$764

Median Rent

$151,300

Median Home Value

Market

Average Price Trend$/SF for Retail space in St. Landry County, LA

$99.26 Jul

$90.56 Aug

$96.61 Sep

$87.36 Oct

Properties on Market for Retail space in St. Landry County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - An absolute NNN lease places the property under a tenant-operated structure with no landlord responsibilities.

Where is this retail space located?

The property is located at 1608 Creswell Ln Ext Opelousas, LA.

What is the asking price?

The asking price for this property is $3,474,771.

What are key features of this property?

This property features: ±32,863‑square‑foot Ashley HomeStore showroom on ±4.73 acres; Absolute NNN lease with no landlord responsibilities; Lease expires January 31, 2031; four five‑year renewal options