Auto Shop with Two Bay
For Sale
$250,000
2301 Johnston St, Lafayette, LA 70503
CH-zoned facility includes office, workshop, storage, and vehicle-access bays.
Property Size1,467 SF
Price / SF$170.42
Days on Market304
Property Features for 2301 Johnston St
General Information
Standard status
Active
Size
1,467 SF
Property subtype
Other
Zoning
CH
Additional Details
Road Access
Yes
Drive-In Doors
2
Amenities
lobby/office area
workshop
bay doors
storage space
billboard
Building Details
Buildings
1
Listing Agency:
Compass Lafayette
(337) 233-9541
Listed By:
Stefanie Kellner · License #0995685223
(337) 233-9541
Source:
Lacdb.resimplifi
Added: Oct 29, 2025
Changed: Aug 28
Last Checked: Aug 28 at 6:52AM
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 Compass Lafayette
Investment Insights
Based on property information with market context.
This auto shop at 2301 Johnston St in Lafayette is arranged with a customer-facing lobby and office area, a workshop, storage space, and two large bay doors for vehicle access. The existing configuration can support automotive operations or be adapted through renovation for another commercial use.
The property is positioned on Johnston Street with proximity to Downtown Lafayette and the University of Louisiana at Lafayette. It is zoned CH. The site previously operated as a gas station; the original owner removed the tanks, and an environmental study was completed by LDEQ in 2013 and recorded with the Lafayette Parish Clerk of Court.
The property is positioned on Johnston Street with proximity to Downtown Lafayette and the University of Louisiana at Lafayette. It is zoned CH. The site previously operated as a gas station; the original owner removed the tanks, and an environmental study was completed by LDEQ in 2013 and recorded with the Lafayette Parish Clerk of Court.
Key Highlights
- Auto shop configuration with lobby, office, workshop, and storage
- Two large bay doors provide vehicle and inventory access
- CH zoning
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
$17,791
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
7.12%
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%
$355,820
$355.8K
Cap Rate 7%
$254,157
$254.2K
Cap Rate 9%
$197,678
$197.7K
Market Conditions
NOI Build-Up for 1,467 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
$27.6K $18.84/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$25.4K $17.33/SF
− OpEx
−$7.6K −$5.20/SF
NOI
$17.8K $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 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%
$355,820
Cap Rate 7%
$254,157
Cap Rate 9%
$197,678
Alternative Uses
Best Use
Retail
$254.2K
$222.4K – $296.5K
NOI $17,791 @ 7.0% cap · market cap 7.12%
Second Best
Industrial
$98.9K
$86.5K – $115.4K
NOI $6,921 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$346.8K
$303.5K – $404.7K
NOI $24,279 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,411
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Brakes For Less — 1351 W Pinhook Rd, Lafayette, LA 70503
- Dave's Car Care Center — 1400 W Pinhook Rd, Lafayette, LA 70503
- Express Oil Change & Tire Engineers — 2964 Johnston St, Lafayette, LA 70503
- Fournet's Winnwood Chevron — 2932 Johnston St, Lafayette, LA 70503
- Goodyear Auto Service — 2802 Johnston St, Lafayette, LA 70503
Frequently Asked Questions
What type of property is this?
Auto shop - CH-zoned facility includes office, workshop, storage, and vehicle-access bays.
Where is this auto shop located?
The property is located at 2301 Johnston St Lafayette, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Auto shop configuration with lobby, office, workshop, and storage; Two large bay doors provide vehicle and inventory access; CH zoning
