Office Building with 4 Private
For Sale
$225,000
207 N Luke Street, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size1,261 SF
Lot Size0.40 Acres
Price / SF$178.43
Days on Market242
Property Features for 207 N Luke Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Lot features
Cul-De-Sac, Level
Directions
I-10 to Ambassador Caffery, right on Eraste Landry, N. Luke will be on left between Bare Woods and Grainger, bldg 2nd to last on left
Subdivision
G3
Standard status
Active
APN
6046991
Size
1,261 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
LOT 11 JAMES B COMEAUX ET AL RESUB (17370 SF)(94.50X184.66X94.50X184.62)
Tax Annual Amount
1813
Legal Description
LOT 11 JAMES B COMEAUX ET AL RESUB (17370 SF)(94.50X184.66X94.50X184.62)
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Floors in Building
1
Building materials
Frame
Roof type
Metal
Listing Agency:
Real Broker, LLC
(337) 534-0555
Listed By:
Shannon Broussard · License #0995688213
(337) 315-0654
Added: Feb 23
Changed: Oct 23
Last Checked: Oct 23 at 1:06PM
MLS# 2600001331
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.
The 1,261-square-foot office property is arranged with four private offices, a reception and waiting area, a kitchen or breakroom, and two restrooms. Frame construction, a metal roof, central heating and air conditioning, and natural gas service are among its recorded features. The layout is suited to professional operations, including medical or wellness practices and other service businesses.
The property occupies a 0.4-acre lot at 207 N Luke Street in Lafayette. It is near I-10 and Eraste Landry Drive, with on-site parking. Zoning is COMM, and the site has public sewer service.
The property occupies a 0.4-acre lot at 207 N Luke Street in Lafayette. It is near I-10 and Eraste Landry Drive, with on-site parking. Zoning is COMM, and the site has public sewer service.
Key Highlights
- Four private offices in a 1,261‑square‑foot building
- 0.4‑acre lot with on‑site parking
- Reception and waiting area, kitchen or breakroom, and 2 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,674
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,480
$293.5K
Cap Rate 7%
$209,629
$209.6K
Cap Rate 9%
$163,044
$163.0K
Market Conditions
NOI Build-Up for 1,261 SF
Gross rent
$22.7K $18.00/SF
− Vacancy
−$3.1K −$2.48/SF
EGI
$19.6K $15.52/SF
− OpEx
−$4.9K −$3.88/SF
NOI
$14.7K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,480
Cap Rate 7%
$209,629
Cap Rate 9%
$163,044
Alternative Uses
Best Use
Office B
$209.6K
$183.4K – $244.6K
NOI $14,674 @ 7.0% cap · market cap 6.52%
Second Best
Healthcare Medical
$204.3K
$178.8K – $238.3K
NOI $14,300 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$298.1K
$260.9K – $347.8K
NOI $20,870 @ 7.0% cap · market cap 9.28%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
586
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 Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Reception and waiting areas, a breakroom, and two restrooms complement the private workspaces.
Where is this office building located?
The property is located at 207 N Luke Street Lafayette, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Four private offices in a 1,261‑square‑foot building; 0.4‑acre lot with on‑site parking; Reception and waiting area, kitchen or breakroom, and 2 restrooms
