Flex Space with Loading
For Sale
$1,150,000
218 Four Park Road, Lafayette, LA 70507
COMMERCIAL - Lafayette, LA
Property Size17,470 SF
Lot Size0.67 Acres
Price / SF$65.83
Days on Market200
Property Features for 218 Four Park Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
20
Parking features
Parking Lot
Exterior features
OH Door 10 - 15 Ft, Pole Sign
Subdivision
Northerland
Directions
From Gloria Switch west of I-49, turn onto Four Park Rd and follow it to the end where building is the last on the right.
Standard status
Active
APN
6016258
Size
17,470 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Description
LOT 21 & 22 NORTHERLAND- AN INDUSTRIAL DEVELOPMENT (160.66X10.55X206.66X160X193.04)
Legal Description
LOT 21 & 22 NORTHERLAND- AN INDUSTRIAL DEVELOPMENT (160.66X10.55X206.66X160X193.04)
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
shower facility
employee lounge area
Building Details
Floors in Building
1
Flooring type
Tile
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(337) 522-7554
Listed By:
Viki L Falgout · License #0995685591
(337) 356-8101
Added: Feb 10
Changed: Aug 4
Last Checked: Aug 29 at 3:06AM
MLS# 2600000788
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.
This 17,470-square-foot flex property occupies 0.67 acres and has supported several commercial formats, including retail, call-center, warehouse, and indoor recreational operations. The building contains more than six office spaces, four restrooms, a shower facility, an employee lounge, and a loading dock. Interior tile flooring, central air conditioning, and electric heat serve the facility, while a metal roof completes the structure.
Located at 218 Four Park Road in Lafayette, the property includes 20 parking spaces, a parking lot, and a pole sign. An overhead door measuring 10–15 feet and public water service add practical features for commercial occupancy. The property is zoned Commercial.
Located at 218 Four Park Road in Lafayette, the property includes 20 parking spaces, a parking lot, and a pole sign. An overhead door measuring 10–15 feet and public water service add practical features for commercial occupancy. The property is zoned Commercial.
Key Highlights
- 17,470‑square‑foot building on 0.67 acres
- Four restrooms, more than six office spaces, shower facility, and employee lounge
- Loading dock and 10–15‑foot overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,088
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,001,760
$2.0M
Cap Rate 7%
$1,429,829
$1.4M
Cap Rate 9%
$1,112,089
$1.1M
Market Conditions
NOI Build-Up for 17,470 SF
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.
Gross rent
$123.7K $7.08/SF
− Vacancy
−$5.9K −$0.34/SF
EGI
$117.8K $6.74/SF
− OpEx
−$17.7K −$1.01/SF
NOI
$100.1K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,001,760
Cap Rate 7%
$1,429,829
Cap Rate 9%
$1,112,089
Alternative Uses
Best Use
Retail
$3.03M
$2.65M – $3.53M
NOI $211,871 @ 7.0% cap · market cap 18.42%
Second Best
Office B
$2.90M
$2.54M – $3.39M
NOI $203,298 @ 7.0% cap · market cap 17.68%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $289,135 @ 7.0% cap · market cap 25.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70507, LA
17,791
Population
8,133
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
21.4 sq mi
ZIP Area
831
Density / Sq Mi
$64,010
Median Household Income
$40,700
Median Earnings
$937
Median Rent
$206,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial zoning accompanies a substantial building with offices, restrooms, and dedicated loading access.
Where is this flex space located?
The property is located at 218 Four Park Road Lafayette, LA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 17,470‑square‑foot building on 0.67 acres; Four restrooms, more than six office spaces, shower facility, and employee lounge; Loading dock and 10–15‑foot overhead door
