CM1 Zoned Retail Redevelopment
For Sale
$465,000
1803 1809 W University Avenue, Lafayette, LA 70506
COMMERCIAL - Lafayette, LA
Property Size2,654 SF
Lot Size0.43 Acres
Price / SF$175.21
Days on Market685
Property Features for 1803 1809 W University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial CM1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
9
Parking features
Parking Lot
Exterior features
Partially Fenced, Pole Sign, Roof Sign
Fencing
Partial
Subdivision
West End Hgts
Lot features
Corner, Level
Directions
From I-10 take the University Avenue Exit, continue straight passing Willow St, continue straight passing Madeline Avenue, continue straight passing Cameron Street, the property will be approximately 3 blocks straight ahead on the left. The property is 2 lots on the corner of West University Avenue and Agnes Street.
Standard status
Active
APN
6042232 & 6037629
Size
2,654 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Description
LOTS 17-18-19-20 BLK 15 WEST END HTS (.289 AC) AND LOTS 21-22 BLK 15 WEST END HGTS SUB
Legal Description
LOTS 17-18-19-20 BLK 15 WEST END HTS (.289 AC) AND LOTS 21-22 BLK 15 WEST END HGTS SUB
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Weiser Realty & Property Managment, LLC
(337) 345-8677
Listed By:
Asim Baloch · License #995696005
(337) 351-6299
Added: Sep 27, 2024
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 24009112
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 offering includes two buildings and two lots totaling 0.43 acres, zoned Commercial CM1. The package features an existing building that can be renovated for retail uses, along with an additional house next door that may provide rental income. Depending on the buyer’s plan, the property can also be cleared for a build-to-suit development.
The site is positioned at a busy intersection with average traffic reported at over 23,000 cars passing daily. University is also described as a major corridor to Lafayette, supporting a retail-oriented setting for visibility and customer access.
For investors or owner-occupiers, the combination of CM1 zoning, multiple structures, and flexible redevelopment paths can support a range of retail-centric strategies. Tenants or operators evaluating a retail location can consider renovating the existing building, while buyers looking to scale can evaluate clearing the site and constructing a tailored retail development consistent with the CM1 designation.
The site is positioned at a busy intersection with average traffic reported at over 23,000 cars passing daily. University is also described as a major corridor to Lafayette, supporting a retail-oriented setting for visibility and customer access.
For investors or owner-occupiers, the combination of CM1 zoning, multiple structures, and flexible redevelopment paths can support a range of retail-centric strategies. Tenants or operators evaluating a retail location can consider renovating the existing building, while buyers looking to scale can evaluate clearing the site and constructing a tailored retail development consistent with the CM1 designation.
Key Highlights
- Two buildings and two lots totaling 0.433 acres
- CM1 zoning potential noted for redevelopment, including options to renovate the existing building
- Over 23,000 cars pass daily at the busy intersection (average traffic)
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
$32,187
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
6.92%
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%
$643,740
$643.7K
Cap Rate 7%
$459,814
$459.8K
Cap Rate 9%
$357,633
$357.6K
Market Conditions
NOI Build-Up for 2,654 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
$50.0K $18.84/SF
− Vacancy
−$4.0K −$1.51/SF
EGI
$46.0K $17.33/SF
− OpEx
−$13.8K −$5.20/SF
NOI
$32.2K $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%
$643,740
Cap Rate 7%
$459,814
Cap Rate 9%
$357,633
Alternative Uses
Best Use
Retail
$459.8K
$402.3K – $536.5K
NOI $32,187 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$321.4K
$281.3K – $375.0K
NOI $22,500 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$627.5K
$549.1K – $732.1K
NOI $43,925 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two buildings on two lots in CM1 zoning, offering redevelopment options and potential rental income.
Where is this commercial land located?
The property is located at 1803 1809 W University Avenue Lafayette, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two buildings and two lots totaling 0.433 acres; CM1 zoning potential noted for redevelopment, including options to renovate the existing building; Over 23,000 cars pass daily at the busy intersection (average traffic)
