Bank Branch with
For Sale
$200,000
309 E St Peter, New Iberia, LA 70560
COMMERCIAL - New Iberia, LA
Property Size810 SF
Lot Size0.76 Acres
Price / SF$246.91
Days on Market392
Property Features for 309 E St Peter
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Lot features
Interior Lot
Directions
From HWY 90 take Center Street exit into New Iberia, continue to Center, turn left on Charles Street, destination will be on your left
Subdivision
I2
Standard status
Active
APN
0502701010
Size
810 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Description
1- 56/75/132 X 124/187/312 ITEM 1 CHARLES ST, ST PETER ST & ROMERO, SOILEAU, ROMERO AND CONGREGATION GATES OF PRAYER IMP (TELLER AREA) ITEM 3 LAND COMM SITE DEVELOPMENT ITEM 2 ACQ: JOHN J ROMERO - 2023 (19699)
Legal Description
1- 56/75/132 X 124/187/312 ITEM 1 CHARLES ST, ST PETER ST & ROMERO, SOILEAU, ROMERO AND CONGREGATION GATES OF PRAYER IMP (TELLER AREA) ITEM 3 LAND COMM SITE DEVELOPMENT ITEM 2 ACQ: JOHN J ROMERO - 2023 (19699)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
covered drive-thru
concrete overhang walkway
Building Details
Flooring type
Concrete
Building materials
Stucco
Listing Agency:
The Gleason Group
(337) 262-7873
Listed By:
Barton Broussard · License #52896
(337) 380-9511
Added: Jul 14, 2025
Changed: Aug 4
Last Checked: Aug 9 at 3:06AM
MLS# 2500001186
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 C2-zoned commercial property includes approximately 0.76 acres of paved concrete parking and drive-through area, along with an approximately 810-square-foot office building. The improvements include a covered drive-through, concrete flooring, stucco construction, central heating, central air, public water, and one bathroom. The site previously operated as a drive-through ATM and bank branch.
Dual frontage and access on Saint Peter Street and Charles Street support convenient ingress and egress. The property has 41 designated parking spaces and a concrete overhang walkway. Its existing layout is suited to continued financial-services use, a quick-service restaurant, or redevelopment, as identified in the property information.
Dual frontage and access on Saint Peter Street and Charles Street support convenient ingress and egress. The property has 41 designated parking spaces and a concrete overhang walkway. Its existing layout is suited to continued financial-services use, a quick-service restaurant, or redevelopment, as identified in the property information.
Key Highlights
- Approximately 0.76 acres of paved concrete parking and drive‑through area
- 810 SF office building with a covered drive‑through
- Dual frontage and access on Saint Peter Street and Charles Street
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
$6,518
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
3.26%
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%
$130,360
$130.4K
Cap Rate 7%
$93,114
$93.1K
Cap Rate 9%
$72,422
$72.4K
Market Conditions
NOI Build-Up for 810 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
$9.7K $12.00/SF
− Vacancy
−$408 −$0.50/SF
EGI
$9.3K $11.50/SF
− OpEx
−$2.8K −$3.45/SF
NOI
$6.5K $8.05/SF
Area
Iberia County, LA
Vacancy
4.20%
Lease Rate
$12.00 /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%
$130,360
Cap Rate 7%
$93,114
Cap Rate 9%
$72,422
Alternative Uses
Best Use
Retail
$93.1K
$81.5K – $108.6K
NOI $6,518 @ 7.0% cap · market cap 3.26%
Second Best
Specialty Retail
$37.4K
$32.7K – $43.7K
NOI $2,619 @ 7.0% cap · market cap 1.31%
Theoretical Best
Office A
$134.0K
$117.2K – $156.3K
NOI $9,378 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,957 visits/mo
0.4 miles
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Bank - C2-zoned commercial site with an office building, covered drive-through, and paved customer parking area.
Where is this bank located?
The property is located at 309 E St Peter New Iberia, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Approximately 0.76 acres of paved concrete parking and drive‑through area; 810 SF office building with a covered drive‑through; Dual frontage and access on Saint Peter Street and Charles Street
