Climate-Controlled Flex
For Sale
$815,000
302 Toledo Dr Unit 0, Lafayette, LA 70506
Open commercial layout with two roll-up doors and access to I-10.
Property Size9,029 SF
Price / SF$90.26
Days on Market17
Property Features for 302 Toledo Dr Unit 0
General Information
Standard status
Active
Size
9,029 SF
Additional Details
Highway Access
Yes
Conditioned Warehouse
Yes
Listing Agency:
Real Broker, LLC
(337) 654-5700
Listed By:
Mark Van Eaton · License #4771
Source:
Athomerealtyla
Added: Aug 15
Changed: Aug 30
Last Checked: Aug 31 at 7:00PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Available for sale or lease, this 9,029-square-foot flex property in Lafayette features full climate control and an expansive open interior. Two roll-up doors support loading and operational flexibility, while the largely unobstructed layout can accommodate a range of commercial configurations.
The building is located at 302 Toledo Dr with quick access to I-10. Lease terms are structured on an NNN basis.
The building is located at 302 Toledo Dr with quick access to I-10. Lease terms are structured on an NNN basis.
Key Highlights
- 9,029 SF flex building in Lafayette
- Fully climate‑controlled interior
- Wide‑open floor plan for flexible configuration
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
$51,728
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
6.35%
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%
$1,034,560
$1.0M
Cap Rate 7%
$738,971
$739.0K
Cap Rate 9%
$574,756
$574.8K
Market Conditions
NOI Build-Up for 9,029 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
$63.9K $7.08/SF
− Vacancy
−$3.1K −$0.34/SF
EGI
$60.9K $6.74/SF
− OpEx
−$9.1K −$1.01/SF
NOI
$51.7K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,034,560
Cap Rate 7%
$738,971
Cap Rate 9%
$574,756
Alternative Uses
Best Use
Warehouse
$739.0K
$646.6K – $862.1K
NOI $51,728 @ 7.0% cap · market cap 6.35%
Second Best
Industrial
$608.6K
$532.5K – $710.0K
NOI $42,600 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.13M
$1.87M – $2.49M
NOI $149,434 @ 7.0% cap · market cap 18.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
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.
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout with two roll-up doors and access to I-10.
Where is this flex space located?
The property is located at 302 Toledo Dr Unit 0 Lafayette, LA.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 9,029 SF flex building in Lafayette; Fully climate‑controlled interior; Wide‑open floor plan for flexible configuration
