Fenced Flex Space with Office
For Sale
$425,000
Pending
310 S Buchanan St, Lafayette, LA 70501
Fenced commercial property combining office areas with warehouse and storage space.
Property Size3,900 SF
Lot Size0.34 Acres
Days on Market174
Property Features for 310 S Buchanan St
General Information
Standard status
Pending
Size
3,900 SF
Lot size
0.34 Acres
Site & Location
Road Access
Yes
Fenced Yard
Yes
Building Details
Buildings
1
Building Size
3,900 SF
Listing Agency:
Choice Realty
(337) 258-0235
Listed By:
C. Leigh Ann Meche · License #76801
(337) 258-0235
Source:
Exprealty
Added: Mar 11
Changed: Aug 20
Last Checked: Aug 30 at 11:57PM
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 Choice Realty
Investment Insights
Based on property information with market context.
This flex space includes an existing building with approximately 3,900 square feet of office and warehouse area. The first floor contains five office spaces, while the upper level includes additional living area. Separate storage areas provide further functional space within the property.
The approximately 15, 246 S.F. property occupies .342 acre in Downtown Lafayette, between Buchanan St. and Second Street. The site is fully fenced and positioned 1/2 block from the Mardi Gras Parade route, with walkable access to downtown Lafayette attractions.
The approximately 15, 246 S.F. property occupies .342 acre in Downtown Lafayette, between Buchanan St. and Second Street. The site is fully fenced and positioned 1/2 block from the Mardi Gras Parade route, with walkable access to downtown Lafayette attractions.
Key Highlights
- Approximately 15, 246 S.F. property on .342 acre
- Existing building with approximately 3,900 sqft of office and warehouse space
- Five first‑floor office spaces plus additional living area upstairs
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
$22,344
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
5.26%
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%
$446,880
$446.9K
Cap Rate 7%
$319,200
$319.2K
Cap Rate 9%
$248,267
$248.3K
Market Conditions
NOI Build-Up for 3,900 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
$27.6K $7.08/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$26.3K $6.74/SF
− OpEx
−$3.9K −$1.01/SF
NOI
$22.3K $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%
$446,880
Cap Rate 7%
$319,200
Cap Rate 9%
$248,267
Alternative Uses
Best Use
Office B
$648.3K
$567.3K – $756.4K
NOI $45,384 @ 7.0% cap · market cap 10.68%
Second Best
Warehouse
$319.2K
$279.3K – $372.4K
NOI $22,344 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$922.1K
$806.8K – $1.08M
NOI $64,547 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property combining office areas with warehouse and storage space.
Where is this flex space located?
The property is located at 310 S Buchanan St Lafayette, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approximately 15, 246 S.F. property on .342 acre; Existing building with approximately 3,900 sqft of office and warehouse space; Five first‑floor office spaces plus additional living area upstairs
