Building Details

Buildings 2

Building Size 19,000 SF

Tenancy Multi

Owner Occupied Yes

Listing Agency: Coldwell Banker Trahan Real Estate Group t***@trahangroup.com Show Phone

Listed By: John O'Reilly · License #0000019177 Show Phone

Source: Exprealty

Added: Jan 26 Changed: Oct 12 Last Checked: Oct 15 at 1:40AM

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Investment Insights

Based on property information with market context.

This flex space offering includes two adjacent buildings with comparable layouts combining office and warehouse areas. Each building measures approximately 9,500 square feet, for a combined total of 19,000 square feet. One building is leased with multiple years remaining, while the owner-occupied building may be leased as a whole or divided into smaller portions.

The property is located at 3029 NW Evangeline Trwy in Lafayette, north of I-10 along I-49. Both buildings have on-site parking and share a sewer system supplied by city water. Three-phase power can be added to either building or both, providing an option for users whose operations require that service.

Key Highlights

• Two adjacent buildings totaling 19,000 square feet
• Each building is approximately 9, 500 square feet
• Office and warehouse layouts in both buildings

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

Is this asking price fair?

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

Office B

$3.16M

$2.76M – $3.69M (±1% cap)

NOI $221,103 @ 7.0% cap · market cap 10.05%

Second Best

Warehouse

$1.56M

$1.36M – $1.81M (±1% cap)

NOI $108,854 @ 7.0% cap · market cap 4.95%

Theoretical Best

Office A

$4.49M

$3.93M – $5.24M (±1% cap)

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

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Hair Salon Law Firm Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

200

Businesses Nearby

Under-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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Adjacent office-warehouse buildings provide flexible occupancy options with on-site parking and shared municipal utilities.

Where is this flex space located?

The property is located at 3029 Nw Evangeline Trwy 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 totaling 19,000 square feet; Each building is approximately 9, 500 square feet; Office and warehouse layouts in both buildings