Building Details

Building Size 4,135 SF

Listing Agency: Elifin Realty

Listed By: Mark Johns · License #995715972 Show Phone

Source: Elifinrealty

Added: Jul 23 Changed: Oct 10 Last Checked: Oct 20 at 5:23PM

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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 Elifin Realty

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Investment Insights

Based on property information with market context.

305 Fairlane Dr is an office/warehouse property with a flex-style layout that includes private office space and a kitchen. The warehouse component features a 16' eave height, making the space suitable for light industrial storage or operations.

The property is located within the industrial corridor near W Pont Des Mouton Rd, with stated access just off the roadway. It is described as approximately 3 minutes from I-49 and 5 minutes from I-10. The property is zoned IL (Industrial Light).

Key Highlights

• ±4,135 SF office/warehouse located in the industrial corridor of W Pont Des Mouton Rd
• Flex space includes private offices and a kitchen
• Warehouse features ±16' eave height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,690

Cap Rate

5.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$473,800 $473.8K

Cap Rate 7%

$338,429 $338.4K

Cap Rate 9%

$263,222 $263.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,135 SF

Gross rent

$29.3K $7.08/SF

− Vacancy

−$1.4K −$0.34/SF

EGI

$27.9K $6.74/SF

− OpEx

−$4.2K −$1.01/SF

NOI

$23.7K $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 Rate 5%

$473,800

Cap Rate 7%

$338,429

Cap Rate 9%

$263,222

Alternative Uses

Best Use

Warehouse

$338.4K

$296.1K – $394.8K (±1% cap)

NOI $23,690 @ 7.0% cap · market cap 5.78%

Second Best

Industrial

$278.7K

$243.9K – $325.2K (±1% cap)

NOI $19,509 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$977.7K

$855.5K – $1.14M (±1% cap)

NOI $68,436 @ 7.0% cap · market cap 16.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Computer Concepts Tech Support Center

Suggested Use

Top Pick Storage Facility Auto Parts Store Electrical Service Law Firm Spa & Massage Center (Bike/Boat/Book/etc) Store

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

16 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

151

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex office and warehouse space with private offices, kitchen, and 16' eave height under IL zoning.

Where is this flex space located?

The property is located at 305 Fairlane Dr Lafayette, LA.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: ±4,135 SF office/warehouse located in the industrial corridor of W Pont Des Mouton Rd; Flex space includes private offices and a kitchen; Warehouse features ±16' eave height