Former Bank Office
For Sale
$545,000
1920 Gerstner Memorial Dr, Lake Charles, LA 70601
Operating ATM provides recurring monthly rental income alongside the office property.
Property Size4,605 SF
Price / SF$118.35
Days on Market231
Property Features for 1920 Gerstner Memorial Dr
General Information
Standard status
Active
Size
4,605 SF
Property subtype
Office
Zoning
B
Listing Agency:
Stirling Lafayette
Listed By:
Rankin Bihm
(337) 572-0276
Source:
Lacdb.resimplifi
Added: Feb 25
Changed: Sep 29
Last Checked: Oct 12 at 4:33PM
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 Stirling Lafayette
Investment Insights
Based on property information with market context.
This former bank branch contains approximately 4,605 square feet within a 1.79-acre property. The existing improvements offer a commercial office configuration, with potential application to professional administrative or medical office use as supported by the property’s current setup. An operating ATM generates monthly rental income.
The property is located at 1920 Gerstner Memorial Dr in Lake Charles, along Hwy 14. B zoning is identified for the site, providing an additional reference point for evaluating future use and redevelopment considerations.
The property is located at 1920 Gerstner Memorial Dr in Lake Charles, along Hwy 14. B zoning is identified for the site, providing an additional reference point for evaluating future use and redevelopment considerations.
Key Highlights
- Former bank branch with 4,605 SF of improvements
- Property encompasses 1.79 acres
- Operating ATM generates monthly rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,635
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,700
$812.7K
Cap Rate 7%
$580,500
$580.5K
Cap Rate 9%
$451,500
$451.5K
Market Conditions
NOI Build-Up for 4,605 SF
Gross rent
$60.8K $13.20/SF
− Vacancy
−$2.7K −$0.59/SF
EGI
$58.1K $12.61/SF
− OpEx
−$17.4K −$3.78/SF
NOI
$40.6K $8.82/SF
Area
Calcasieu County, LA
Vacancy
4.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,700
Cap Rate 7%
$580,500
Cap Rate 9%
$451,500
Alternative Uses
Best Use
Specialty Retail
$992.6K
$868.5K – $1.16M
NOI $69,483 @ 7.0% cap · market cap 12.75%
Second Best
Retail
$580.5K
$507.9K – $677.3K
NOI $40,635 @ 7.0% cap · market cap 7.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
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Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Operating ATM provides recurring monthly rental income alongside the office property.
Where is this office building located?
The property is located at 1920 Gerstner Memorial Dr Lake Charles, LA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Former bank branch with 4,605 SF of improvements; Property encompasses 1.79 acres; Operating ATM generates monthly rental income
