Retail Land with Former
For Sale
$1,150,000
2513 Johnston Street, Lafayette, LA 70503
COMMERCIAL - Lafayette, LA
Property Size3,010 SF
Lot Size1.35 Acres
Price / SF$382.06
Days on Market464
Property Features for 2513 Johnston Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM-1 (COMMERCIA
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot
Subdivision
Martin Park
Directions
from I-10, take Exit 100 to Ambassador Caffery Pkwy (la-3184) Head south on Ambassador Caffery Pkwy for approximately 5 miles. Turn left onto Johnston St. Continue on Johnston St. for about 3.2 miles. The property is on the right.
Standard status
Active
APN
6049064
Size
3,010 SF
Lot size
1.35 Acres
Taxes and HOA fees
Tax Description
SEC 47 T10S R4E (1.353 AC) (212.7X271.9X80.3.26.6X111.8X337.8) SEC 47 T10S R4E (30X150) (REDWOOD DRIVE CONT ON 57 PLAT)
Legal Description
SEC 47 T10S R4E (1.353 AC) (212.7X271.9X80.3.26.6X111.8X337.8) SEC 47 T10S R4E (30X150) (REDWOOD DRIVE CONT ON 57 PLAT)
Utilities
Heating system
Wall Furnace
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood
Roof type
Composition
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Anthony D Moroux · License #995716708
(337) 257-8133
Added: May 6, 2025
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 2020023587
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.
For sale: 1.35+/- acres of commercial land along Johnston St in Lafayette, LA. The site includes a 3,010 sf former residence that has been renovated for retail or commercial use.
The property is presented as highly visible with strong traffic in a busy commercial corridor. Zoning is listed as CM-1 (COMMERCIA…).
With land area for redevelopment and an existing improved structure, the site offers flexibility for buyers looking to adapt the current building to commercial use or pursue redevelopment on the parcel.
The property is presented as highly visible with strong traffic in a busy commercial corridor. Zoning is listed as CM-1 (COMMERCIA…).
With land area for redevelopment and an existing improved structure, the site offers flexibility for buyers looking to adapt the current building to commercial use or pursue redevelopment on the parcel.
Key Highlights
- 1.3+/- acres of highly visible land along Johnston St in Lafayette’s busiest corridor
- Former 3,010 SF residence renovated for retail or commercial use
- Wood flooring
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
$36,504
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
3.17%
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%
$730,080
$730.1K
Cap Rate 7%
$521,486
$521.5K
Cap Rate 9%
$405,600
$405.6K
Market Conditions
NOI Build-Up for 3,010 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
$56.7K $18.84/SF
− Vacancy
−$4.6K −$1.51/SF
EGI
$52.1K $17.33/SF
− OpEx
−$15.6K −$5.20/SF
NOI
$36.5K $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%
$730,080
Cap Rate 7%
$521,486
Cap Rate 9%
$405,600
Alternative Uses
Best Use
Retail
$521.5K
$456.3K – $608.4K
NOI $36,504 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$711.7K
$622.7K – $830.3K
NOI $49,817 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
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 Retail 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?
Commercial land - Redevelopment opportunity featuring 1.35+/- acres and a 3,010 sf former residence renovated for retail or commercial use.
Where is this commercial land located?
The property is located at 2513 Johnston Street 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: 1.3+/- acres of highly visible land along Johnston St in Lafayette’s busiest corridor; Former 3,010 SF residence renovated for retail or commercial use; Wood flooring
