Two-Building Flex
For Sale
$2,200,000
3029 NW Evangeline, Lafayette, LA 70507
Commercial Sale, Lafayette, LA
Property Size19,000 SF
Lot Size1.67 Acres
Price / SF$115.79
Days on Market276
Property Features for 3029 NW Evangeline
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
LI
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Lot features
Rolling Slope
Directions
I-49 North to Butcher Switch Rd. Left on I-49 Frontage Road South. Property on the right side of the Frontage Road.
Subdivision
D
Standard status
Active
APN
6112681
Size
19,000 SF
Lot size
1.67 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office and Warehouse
Taxes and HOA fees
Tax Description
LOT3-A-SEC 44 T9R R4E (1.67 AC)
Tax Annual Amount
12000
Legal Description
LOT3-A-SEC 44 T9R R4E (1.67 AC)
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Building materials
Brick, Metal Siding
Roof type
Metal
Buildings
2
Listing Agency:
Coldwell Banker Trahan Real Estate Group
(337) 993-1414
Listed By:
John O'Reilly · License #0000019177
(337) 315-6066
Added: Jan 26
Changed: Oct 28
Last Checked: Oct 29 at 9:06AM
MLS# 2600000279
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property consists of two adjacent buildings, each approximately 9,500 square feet, for a combined 19,000 square feet. Both have similar office and warehouse layouts. One building is leased with multiple years remaining; the owner-occupied building may be leased as a whole or divided. The buildings have brick and metal siding, metal roofs, central air, and electric central heating.
The property is on I-49 north of I-10 in Lafayette, Louisiana, on a 1.67-acre site. Public water and a shared septic system serve the buildings, and on-site parking is provided. Three-phase power can be added to either or both buildings.
The property is on I-49 north of I-10 in Lafayette, Louisiana, on a 1.67-acre site. Public water and a shared septic system serve the buildings, and on-site parking is provided. Three-phase power can be added to either or both buildings.
Key Highlights
- Two adjacent buildings total 19,000 square feet, with approximately 9,500 square feet in each
- Office and warehouse areas in both buildings
- One building has multiple years remaining on its lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,854
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,177,080
$2.2M
Cap Rate 7%
$1,555,057
$1.6M
Cap Rate 9%
$1,209,489
$1.2M
Market Conditions
NOI Build-Up for 19,000 SF
Gross rent
$134.5K $7.08/SF
− Vacancy
−$6.5K −$0.34/SF
EGI
$128.1K $6.74/SF
− OpEx
−$19.2K −$1.01/SF
NOI
$108.9K $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 Rate 5%
$2,177,080
Cap Rate 7%
$1,555,057
Cap Rate 9%
$1,209,489
Alternative Uses
Best Use
Warehouse
$1.56M
$1.36M – $1.81M
NOI $108,854 @ 7.0% cap · market cap 4.95%
Second Best
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,644 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,458 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70507, LA
17,791
Population
8,133
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
21.4 sq mi
ZIP Area
831
Density / Sq Mi
$64,010
Median Household Income
$40,700
Median Earnings
$937
Median Rent
$206,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Dinner Time By Prime — 602 N Montauban Dr, Lafayette, LA 70507
- Crawdaddy's Onsite Catering, LLC — 3015 NW Evangeline Thruway, Lafayette, LA 70507
Frequently Asked Questions
What type of property is this?
Flex space - Two similar buildings combine office and warehouse areas, with options to occupy or lease the owner-used space.
Where is this flex space located?
The property is located at 3029 NW Evangeline Lafayette, LA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two adjacent buildings total 19,000 square feet, with approximately 9,500 square feet in each; Office and warehouse areas in both buildings; One building has multiple years remaining on its lease
