Leased Office Building on
For Sale
$850,000
2201 W Congress Street, Lafayette, LA 70506
4,494 SF office building leased to national tenant.
Property Size4,494 SF
Lot Size0.56 Acres
Price / SF$189.14
Days on Market209
Property Features for 2201 W Congress Street
General Information
Standard status
Active
Size
4,494 SF
Class
C
Lot size
0.56 Acres
Property subtype
Office
Building Details
Building Size
4,494 SF
Year Built
1977
Listed By:
Beau Box, SIOR
(225) 931-3200
Source:
Beaubox
Added: Mar 26
Changed: Oct 19
Last Checked: Oct 19 at 4:42AM
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 Beau Box, SIOR
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Investment Insights
Based on property information with market context.
The subject property is a 4,494 square foot, one-story brick office building situated on a 0.561-acre corner lot. It is currently leased to a national tenant at $4,972 per month, which equates to a lease rate of $13.28 per square foot. The base term of the lease expires on February 28, 2027, and includes three one-year renewal options. The property is conveniently located between Bertrand Drive and Evangeline Thruway, both of which run north-south and provide direct connections to Interstate 10. Nearby attractions include the Cajundome and Cajun Field. Ochsner University Hospital & Clinics and Downtown Lafayette are a short drive away. The Lafayette Regional Airport is also easily accessible.
Key Highlights
- 4,494 sq ft brick office building leased to a national tenant
- Current lease generates $4,972 monthly income
- Lease expires February 28, 2027, with three one‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,297
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,940
$1.0M
Cap Rate 7%
$747,100
$747.1K
Cap Rate 9%
$581,078
$581.1K
Market Conditions
NOI Build-Up for 4,494 SF
Gross rent
$80.9K $18.00/SF
− Vacancy
−$11.2K −$2.48/SF
EGI
$69.7K $15.52/SF
− OpEx
−$17.4K −$3.88/SF
NOI
$52.3K $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%
$1,045,940
Cap Rate 7%
$747,100
Cap Rate 9%
$581,078
Alternative Uses
Best Use
Office B
$747.1K
$653.7K – $871.6K
NOI $52,297 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.7K – $1.24M
NOI $74,377 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
825
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - 4,494 SF office building leased to national tenant.
Where is this office building located?
The property is located at 2201 W Congress Street Lafayette, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,494 sq ft brick office building leased to a national tenant; Current lease generates $4,972 monthly income; Lease expires February 28, 2027, with three one‑year renewal options
