CM1-Zoned Commercial
For Sale
$465,000
1803 1809 W University Ave, Lafayette, LA 70506
Two lots with existing buildings support renovation, redevelopment, or build-to-suit planning.
Property Size2,654 SF
Price / SF$175.21
Days on Market65
Property Features for 1803 1809 W University Ave
General Information
Standard status
Active
Size
2,654 SF
Listing Agency:
Weiser Realty & Property Managment, LLC
Listed By:
Asim Baloch · License #995696005
(337) 351-6299
Source:
Athomerealtyla
Added: Aug 13
Changed: Oct 12
Last Checked: Oct 7 at 2:44PM
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 Weiser Realty & Property Managment, LLC
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Investment Insights
Based on property information with market context.
This CM1-zoned commercial land offering includes two buildings and two lots totaling 0.433 acres at 1803–1809 W University Ave. The existing improvements can be renovated for retail use, while the site also supports a build-to-suit approach. The property information identifies an additional house next door that may provide rental income.
The site is positioned at a busy intersection along W University Ave, a major Lafayette corridor. Average traffic is reported at over 23,000 cars passing daily, providing substantial movement through the surrounding area. The configuration gives an owner flexibility to retain and improve the existing buildings, pursue retail-oriented redevelopment, or clear the property for new construction.
The site is positioned at a busy intersection along W University Ave, a major Lafayette corridor. Average traffic is reported at over 23,000 cars passing daily, providing substantial movement through the surrounding area. The configuration gives an owner flexibility to retain and improve the existing buildings, pursue retail-oriented redevelopment, or clear the property for new construction.
Key Highlights
- 0.433 acres across two lots
- CM1 zoning
- Two existing buildings included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,187
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
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
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 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
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,104
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
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
Frequently Asked Questions
What type of property is this?
Commercial land - Two lots with existing buildings support renovation, redevelopment, or build-to-suit planning.
Where is this commercial land located?
The property is located at 1803 1809 W University Ave 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: 0.433 acres across two lots; CM1 zoning; Two existing buildings included
