Gerber Collision & Glass Auto
For Sale
Contact for pricing
1704 South Lewis Street, 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 Market15
Property Features for 1704 South Lewis Street
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Net Operating Income
$54,553
Additional Details
Cap Rate
7.97%
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
APEX Commercial Real Estate Advisors
(248) 702-0940
Listed By:
Divon Shammami · License #6501467308
Source:
Crexi
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 8:56AM
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
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 = 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
$57,150
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
8.35%
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%
$1,143,000
$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
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
$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 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%
$1,143,000
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
125k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
McDonald's
Dining
29,471 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
16,339 visits/mo
0.1 miles
Chevron
Shops & Services
15,495 visits/mo
0.5 miles
SONIC Drive In
Dining
14,938 visits/mo
0.3 miles
Burger King
Dining
11,405 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Tracy's Auto Specialists Inc — 1105 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
- Dents Plus Automotive Repair, Inc — 915 Weeks Island Rd, 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 South Lewis Street 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
