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    Lafayette Commercial Property For Sale Title is generated by Realmo AI

    1803 1809 W University Avenue, Lafayette, LA 70506

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    Claim this Listing
    For Sale
    $475,000

    COMMERCIAL - Lafayette, LA

    Property size:
    2,654 SF
    Lot size:
    0.43 Acres
    Price / SF:
    $178/SF
    Added:
    Sep 27, 2024
    Days on Market:
    610
    Last Refresh:
    May 29 at 10:06 pm

    Property Features for 1803 1809 W University Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial CM1
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking
    9
    Parking features
    Parking Lot
    Exterior features
    Partially Fenced, Pole Sign, Roof Sign
    Fencing
    Partial
    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

    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

    We can help!

    Listing Contact
    Asim Baloch

    Listing agent Asim Baloch License #995696005

    Listing office Weiser Realty & Property Managment, LLC 117 E Broussard Rd, Lafayette, LA

    Listing date Sep 27, 2024

    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.

    HighLights

    • CM1 zoning offers flexible development options.
    • High traffic location with 23,000+ cars daily.
    • Two buildings and two lots included in the sale (totaling 0.433 acres).
    • Potential for rental income from existing house.
    • Existing building suitable for renovation into retail location(s).
    • Includes parking lot and signage.

    Overview

    This commercial property in Lafayette, Louisiana, features two buildings and two lots, totaling 0.43 acres. The property is zoned CM1, offering various possibilities. The existing building could be renovated for retail location(s), with the house next door providing additional rental income. Alternatively, the property could be cleared for a build-to-suit project. The location benefits from high traffic, with an average of over 23,000 cars passing daily. University Avenue is a major corridor to Lafayette. The property includes 2,654 square feet of retail space and commercial land, presenting an investor special opportunity.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $50.0k $18.84
    − Vacancy −$4.0k −$1.51
    EGI $46.0k $17.33
    − OpEx −$13.8k −$5.20
    NOI $32.2k $12.13
    2,654 SF · lease $18.84/SF/yr · vacancy 8.04% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $459.8K
    $402.3K – $536.5K (±1% cap)
    NOI $32,187 @ 7.0% cap · market cap 6.78%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $627.5K
    $549.1K – $732.1K (±1% cap)
    NOI $43,925 @ 7.0% cap · market cap 9.25%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flowers Etc (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.03094
    Latitude
    30.229518

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    FAQs

    What type of property is this?
    Retail space - Two buildings, two lots, CM1 zoning, high-traffic location.
    Where is this retail space 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 $475,000.
    What are key features of this property?
    This property features: CM1 zoning offers flexible development options.; High traffic location with 23,000+ cars daily.; Two buildings and two lots included in the sale (totaling 0.433 acres).
    (337) 351-6299
    We can help!
    Listing Contact
    Asim Baloch
    Real Estate License ID: 995696005
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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