Multi-Tenant Office/Warehouse
For Sale
$310,000
300 Cardinal Drive, Lafayette, LA 70508
A four-suite office/warehouse setup with multiple access points and overhead doors for flexible tenant use.
Property Size6,250 SF
Price / SF$49.60
Days on Market59
Property Features for 300 Cardinal Drive
General Information
Standard status
Active
Size
6,250 SF
Property subtype
Industrial
Additional Details
Drive-In Doors
4
Office Units
4
Building Details
Building Size
6,250 SF
Tenancy
Multi
Listing Agency:
(337) 288-0118
Listed By:
Patrick Reagan · License #LA #995706722
(337) 288-0118
Source:
Beaubox
Added: Jun 25
Changed: Aug 22
Last Checked: Aug 22 at 4:14AM
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 Patrick Reagan
Investment Insights
Based on property information with market context.
This multi-tenant office/warehouse building is currently configured as four individual suites. The property includes three restrooms and three access points, supporting separate operations within one asset. It also features four overhead doors, making it suitable for users that need both office space and warehouse access.
The building is located in Greenway Industrial Park, off a 50' x 125' parcel described for this property. With multiple points of entry and overhead door access, the layout is geared toward a multi-tenant environment rather than a single large user.
For tenants, the combination of office space and warehouse functionality can work well for light industrial, distribution, or service-oriented businesses that need dedicated suites. For buyers and investors, the four-suite configuration provides multiple occupied-ready options within one property, while the overhead doors and office/amenity separation can help accommodate a range of tenant requirements.
The building is located in Greenway Industrial Park, off a 50' x 125' parcel described for this property. With multiple points of entry and overhead door access, the layout is geared toward a multi-tenant environment rather than a single large user.
For tenants, the combination of office space and warehouse functionality can work well for light industrial, distribution, or service-oriented businesses that need dedicated suites. For buyers and investors, the four-suite configuration provides multiple occupied-ready options within one property, while the overhead doors and office/amenity separation can help accommodate a range of tenant requirements.
Key Highlights
- Multi‑tenant office/warehouse building in Greenway Industrial Park
- 4 individual office/warehouse suites with current multi‑suite configuration
- 3 access points for tenant/entry flexibility
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
$27,382
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
8.83%
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%
$547,640
$547.6K
Cap Rate 7%
$391,171
$391.2K
Cap Rate 9%
$304,244
$304.2K
Market Conditions
NOI Build-Up for 6,250 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
$44.3K $7.08/SF
− Vacancy
−$2.1K −$0.34/SF
EGI
$42.1K $6.74/SF
− OpEx
−$14.7K −$2.36/SF
NOI
$27.4K $4.38/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
35.00%
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%
$547,640
Cap Rate 7%
$391,171
Cap Rate 9%
$304,244
Alternative Uses
Best Use
Warehouse
$511.5K
$447.6K – $596.8K
NOI $35,807 @ 7.0% cap · market cap 11.55%
Second Best
Industrial
$421.3K
$368.6K – $491.5K
NOI $29,488 @ 7.0% cap · market cap 9.51%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,440 @ 7.0% cap · market cap 33.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A four-suite office/warehouse setup with multiple access points and overhead doors for flexible tenant use.
Where is this flex space located?
The property is located at 300 Cardinal Drive Lafayette, LA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Multi‑tenant office/warehouse building in Greenway Industrial Park; 4 individual office/warehouse suites with current multi‑suite configuration; 3 access points for tenant/entry flexibility
