Commercial Land with Existing
For Sale
$465,000
1803 1809 W University Avenue, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size2,654 SF
Lot Size0.43 Acres
Price / SF$175.21
Days on Market749
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
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
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: Oct 8
Last Checked: Oct 15 at 2:06AM
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.
The commercial property includes two buildings and two lots, with CM1 zoning. Existing improvements have concrete flooring, central electric heating, central air conditioning, and metal roofing. Public water and sewer serve the property, and parking is provided in a lot. Exterior features include partial fencing and pole and roof signs.
The property occupies an intersection on W University Avenue, a major Lafayette corridor. Average daily traffic at the intersection exceeds 23,000 vehicles.
The property occupies an intersection on W University Avenue, a major Lafayette corridor. Average daily traffic at the intersection exceeds 23,000 vehicles.
Key Highlights
- Two existing buildings across two lots
- CM1 commercial zoning
- Average intersection traffic exceeds 23,000 vehicles daily
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
Mixed Use
$437.9K
$383.2K – $510.9K
NOI $30,654 @ 7.0% cap · market cap 6.59%
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
Lease Details
23,000 VPD
Traffic count
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - CM1 zoning, public water and sewer, and an existing two-building configuration shape the site’s commercial profile.
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 existing buildings across two lots; CM1 commercial zoning; Average intersection traffic exceeds 23,000 vehicles daily
