Gerber Collision & Glass Auto
For Sale
$684,310
1704 S Lewis St, New Iberia, LA 70560
An 11,000-square-foot automotive facility is occupied under an NN lease with scheduled annual increases.
Property Size11,000 SF
Price / SF$62.21
Days on Market76
Property Features for 1704 S Lewis St
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Retail - Street Retail
Net Operating Income
$54,553
Additional Details
Cap Rate
7.97%
Building Details
Building Size
11,000 SF
Listing Agency:
APEX Commercial Real Estate Advisors
Listed By:
Sal Yaldo · License #6501443637
(248) 579-5045
Source:
Commercialcafe
Added: Aug 10
Changed: Oct 9
Last Checked: Oct 24 at 1:43PM
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 APEX Commercial Real Estate Advisors
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Investment Insights
Based on property information with market context.
Located at 1704 South Lewis Street in New Iberia, Louisiana, this 11,000-square-foot automotive property is occupied by Gerber Collision & Glass. The asset is positioned along a well-traveled corridor and includes ample parking, with established businesses and dense residential communities in the surrounding area.
The investment is structured under an NN lease, with annual 1.5% rental increases and multiple 5-year renewal options. The property carries a 7.97% cap rate and is supported by a nationally recognized collision-repair operator. These lease provisions provide defined renewal periods and scheduled income growth within the existing occupancy.
The investment is structured under an NN lease, with annual 1.5% rental increases and multiple 5-year renewal options. The property carries a 7.97% cap rate and is supported by a nationally recognized collision-repair operator. These lease provisions provide defined renewal periods and scheduled income growth within the existing occupancy.
Key Highlights
- 11,000‑square‑foot automotive property at 1704 South Lewis Street
- Occupied by Gerber Collision & Glass
- 7.97% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,150
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,000
$1.1M
Cap Rate 7%
$816,429
$816.4K
Cap Rate 9%
$635,000
$635.0K
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$85.6K $7.78/SF
− Vacancy
−$3.9K −$0.36/SF
EGI
$81.6K $7.42/SF
− OpEx
−$24.5K −$2.23/SF
NOI
$57.2K $5.20/SF
Area
Iberia County, LA
Vacancy
4.60%
Lease Rate
$7.78 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,000
Cap Rate 7%
$816,429
Cap Rate 9%
$635,000
Alternative Uses
Best Use
Retail
$1.26M
$1.11M – $1.48M
NOI $88,519 @ 7.0% cap · market cap 12.94%
Second Best
Industrial
$816.4K
$714.4K – $952.5K
NOI $57,150 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,354 @ 7.0% cap · market cap 18.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
312k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 22%
Apparel 19%
Groceries 16%
Rouses Market
Groceries
40,468 visits/mo
0.2 miles
T.J. Maxx
Apparel
31,718 visits/mo
0.4 miles
Five Below
Shops & Services
31,392 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
21,450 visits/mo
0.2 miles
Wendy's
Dining
15,988 visits/mo
0.5 miles
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Tracy's Auto Specialists Inc — 1105 Weeks Island Rd, New Iberia, LA 70560
- Dents Plus Automotive Repair, Inc — 915 Weeks Island Rd, New Iberia, LA 70560
- Richard's Muffler & Car Care — 1002 Weeks Island Rd, New Iberia, LA 70560
- Glass Services Unlimited — 1612 S Lewis St, New Iberia, LA 70560
- Gerber Collision & Glass — 1704 S Lewis St, New Iberia, LA 70560
Frequently Asked Questions
What type of property is this?
Auto shop - An 11,000-square-foot automotive facility is occupied under an NN lease with scheduled annual increases.
Where is this auto shop located?
The property is located at 1704 S Lewis St New Iberia, LA.
What is the asking price?
The asking price for this property is $684,310.
What are key features of this property?
This property features: 11,000‑square‑foot automotive property at 1704 South Lewis Street; Occupied by Gerber Collision & Glass; 7.97% cap rate
