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 Market763
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
Lot features
Corner Lot, 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.
Subdivision
G3
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
Tax Annual Amount
2396
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Building materials
Brick, Frame
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 28
Last Checked: Oct 29 at 10:06AM
MLS# 24009112
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This commercial land offering includes two buildings and two lots. The property is zoned Commercial CM1, and the existing structures total 2,654 square feet. Building features include brick and frame construction, concrete flooring, central air, electric and central heating, and a metal roof. Public water and sewer serve the property, with natural gas available.
The site is at 1803 and 1809 W University Avenue in Lafayette, at an intersection described as carrying more than 23,000 vehicles per day. W University Avenue is identified as a major Lafayette corridor.
The site is at 1803 and 1809 W University Avenue in Lafayette, at an intersection described as carrying more than 23,000 vehicles per day. W University Avenue is identified as a major Lafayette corridor.
Key Highlights
- Two buildings and two lots on a Commercial CM1‑zoned parcel
- Existing building area totals 2,654 square feet
- Intersection traffic averages more than 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
—
—
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
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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 buildings and two lots are situated within a Commercial CM1-zoned parcel.
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 on a Commercial CM1‑zoned parcel; Existing building area totals 2,654 square feet; Intersection traffic averages more than 23,000 vehicles daily
