Renovated Duplex With Individually Metered
For Sale
$227,000
301 S Pierce Street, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size1,791 SF
Lot Size0.21 Acres
Price / SF$126.74
Days on Market258
Property Features for 301 S Pierce Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MN-1
Subdivision
Hopkins Addition
Lot features
Corner
Directions
Take Congress towards Downtown. Turn Left on Pierce. House is on Right between Simcoe and Cameron
Standard status
Active
APN
6025384
Size
1,791 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LOT 1 & N 1/2 LOT 4 BLK F HOPKINS ADD (75 FT FRONT)
Legal Description
LOT 1 & N 1/2 LOT 4 BLK F HOPKINS ADD (75 FT FRONT)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood
Roof type
Composition
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Charles Ditch · License #995695266
(337) 501-9467
Added: Dec 10, 2025
Changed: Aug 4
Last Checked: Aug 25 at 9:06AM
MLS# 2500006185
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.
This newly renovated duplex is set up as two separate residences, offering an efficient, turnkey configuration for income and flexible occupancy. Unit One features 3 bedrooms and 1 bathroom. Unit Two features 1 bedroom and 1 bathroom. The property includes a roof estimated to be approximately two years old, and each unit is individually metered for electricity. Designated parking spaces are provided for each unit.
The property is located at 301 S Pierce Street in Lafayette, Louisiana, in Flood Zone X, described as “high and dry.” The listing notes quick access to Downtown Lafayette and nearby retail, dining, and major thoroughfares.
Zoning is MN-1, which the listing describes as supporting neighborhood retail, convenience, service, office, and institutional uses within Residential and Mixed Residential categories. For tenants, buyers, or operators seeking a duplex with separate utilities and dedicated parking, this layout can support straightforward day-to-day operations while fitting a range of residential strategies consistent with the current zoning language.
The property is located at 301 S Pierce Street in Lafayette, Louisiana, in Flood Zone X, described as “high and dry.” The listing notes quick access to Downtown Lafayette and nearby retail, dining, and major thoroughfares.
Zoning is MN-1, which the listing describes as supporting neighborhood retail, convenience, service, office, and institutional uses within Residential and Mixed Residential categories. For tenants, buyers, or operators seeking a duplex with separate utilities and dedicated parking, this layout can support straightforward day-to-day operations while fitting a range of residential strategies consistent with the current zoning language.
Key Highlights
- Mixed‑Use zoning allows for highly profitable Short‑Term Rentals (STRs).
- Newly renovated duplex featuring a 3 Bed/1 Bath unit (1,251 sqft) and a 1 Bed/1 Bath unit (544 sqft).
- Centrally located with quick access to Downtown Lafayette, River Ranch, shopping, dining, and major thoroughfares.
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
$16,752
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
7.38%
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%
$335,040
$335.0K
Cap Rate 7%
$239,314
$239.3K
Cap Rate 9%
$186,133
$186.1K
Market Conditions
NOI Build-Up for 1,791 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
$32.0K $17.88/SF
− Vacancy
−$8.1K −$4.52/SF
EGI
$23.9K $13.36/SF
− OpEx
−$7.2K −$4.01/SF
NOI
$16.8K $9.35/SF
Area
Lafayette, LA
Vacancy
25.27%
Lease Rate
$17.88 /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%
$335,040
Cap Rate 7%
$239,314
Cap Rate 9%
$186,133
Alternative Uses
Best Use
Multifamily LT 5
$239.3K
$209.4K – $279.2K
NOI $16,752 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$216.9K
$189.8K – $253.1K
NOI $15,184 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$423.5K
$370.5K – $494.0K
NOI $29,642 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newly renovated duplex with two units, individual electricity metering, and designated off-street parking for each residence.
Where is this duplex located?
The property is located at 301 S Pierce Street Lafayette, LA.
What is the asking price?
The asking price for this property is $227,000.
What are key features of this property?
This property features: Mixed‑Use zoning allows for highly profitable Short‑Term Rentals (STRs).; Newly renovated duplex featuring a 3 Bed/1 Bath unit (1,251 sqft) and a 1 Bed/1 Bath unit (544 sqft).; Centrally located with quick access to Downtown Lafayette, River Ranch, shopping, dining, and major thoroughfares.
