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    Prime Corner Lot for Development Title is generated by Realmo AI

    2322 S Fieldspan Rd, Duson, LA 70529

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    1.26-acre corner lot ideal for retail or restaurant development.

    Type:Retail, Office, Land
    Property size:
    54,885 SF
    Lot size:
    1.26 Acres
    Price / SF:
    $7/SF
    Added:
    Nov 16, 2023
    Days on Market:
    929
    Last Refresh:
    May 13 at 8:22 pm

    Property Features for 2322 S Fieldspan Rd

    General Information

    Standard status
    Active
    Size
    54,885 SF
    Lot size
    1.26 Acres
    Property subtype
    Retail, Office, Land

    We can help!

    Listing Contact
    Mo Hannie
    Mo Hannie

    Listing agent Mo Hannie License #440000497

    Listing office NAI Rampart

    Listing date Nov 16, 2023

    Source Crexi

    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 NAI Rampart

    HighLights

    • High‑traffic corner location at a roundabout intersection with 12,450+ vehicles per day.
    • Located in a fast‑growing area of Lafayette Parish, less than a mile from a new 94‑acre residential development.
    • 1.26‑acre parcel (54,885 sq ft) mostly cleared and ready for development.
    • Significant frontage: 159’+ on S. Fieldspan Rd (LA Hwy 724) and 291’+ on Ridge Road (LA Hwy 342).
    • Located in Flood Zone X, an area of minimal flood hazard.
    • Utilities available: SLEMCO power, Center Point Energy natural gas, and Lafayette Parish Water District South water.

    Overview

    This 1.26-acre (54,885 sq ft) hard corner site is located in a fast-growing area of Lafayette Parish. The parcel features over 159 feet of frontage on S. Fieldspan Rd (LA Hwy 724) and over 291 feet on Ridge Road (LA Hwy 342). Situated at a roundabout intersection, the location benefits from a traffic count exceeding 12,450 vehicles per day. It is less than a mile from a new 94-acre residential development. The corner is in flood zone X, an area of minimal flood hazard, and is mostly cleared and ready for development. Current utilities include SLEMCO power, Center Point Energy for natural gas, and Lafayette Parish Water District South for water. Neighboring businesses include Leger’s Storage, Farmers State Bank, and Village Station, an Exxon c-store. Ridge Rd offers local and national restaurants, retailers, and banks, and provides direct access to Ambassador Caffery Pkwy in Lafayette. This highly visible corner is ideal for a retail center, fast casual restaurant, pharmacy, or medical office building. Per deed restrictions, convenience stores and drive-thru liquor establishments are prohibited.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Department Store Accounting Firm Storage Facility Bar & Pub Garden Center Discount Store Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Duson
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.14304
    Latitude
    30.18194

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    FAQs

    What type of property is this?
    Commercial land - 1.26-acre corner lot ideal for retail or restaurant development.
    Where is this commercial land located?
    The property is located at 2322 S Fieldspan Rd Duson, LA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: **High‑traffic corner location** at a roundabout intersection with 12,450+ vehicles per day.; Located in a fast‑growing area of Lafayette Parish, less than a mile from a new 94‑acre residential development.; **1.26‑acre parcel (54,885 sq ft) mostly cleared and ready for development.**
    (337) 278-6444 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mo Hannie
    Mo Hannie
    Real Estate License ID: 440000497
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2322 S Fieldspan Rd, Duson, LA 70529
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