Office Building with Private
For Sale
$495,000
311 W University Ave, Lafayette, LA 70506
A multi-suite configuration includes private entrances and a rear courtyard.
Property Size3,001 SF
Price / SF$164.95
Days on Market337
Property Features for 311 W University Ave
General Information
Standard status
Active
Size
3,001 SF
Property subtype
Office
Zoning
CM-1
Amenities
conference room
kitchen
lobby
restroom
private courtyard
private entrances
Power
Water
Sewer
Vacant
Listing Agency:
Scout Real Estate Co.
Listed By:
Jeff Landry · License #BROK.995682229-ACT
(337) 257-5380
Source:
Lacdb.resimplifi
Added: Nov 14, 2025
Changed: Oct 6
Last Checked: Oct 16 at 5:49AM
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 Scout Real Estate Co.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building is arranged with seven offices, a conference room, kitchen, two lobbies, and two restrooms. The layout can support up to three separate tenant suites, each with its own entrance. A courtyard at the rear is assigned to the rear suite, adding an outdoor component to that space. Private parking is also included.
The property is positioned near University Ave. and Johnston St., with access to Downtown Lafayette and the University of Lafayette. CM-1 Commercial Mixed Zoning applies to the site.
The property is positioned near University Ave. and Johnston St., with access to Downtown Lafayette and the University of Lafayette. CM-1 Commercial Mixed Zoning applies to the site.
Key Highlights
- Seven offices, a conference room, kitchen, two lobbies, and two restrooms
- Layout accommodates up to three individual tenant suites
- Each tenant suite can have a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,923
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,460
$698.5K
Cap Rate 7%
$498,900
$498.9K
Cap Rate 9%
$388,033
$388.0K
Market Conditions
NOI Build-Up for 3,001 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$7.5K −$2.48/SF
EGI
$46.6K $15.52/SF
− OpEx
−$11.6K −$3.88/SF
NOI
$34.9K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,460
Cap Rate 7%
$498,900
Cap Rate 9%
$388,033
Alternative Uses
Best Use
Office B
$498.9K
$436.5K – $582.1K
NOI $34,923 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.5K
$620.9K – $827.8K
NOI $49,668 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A multi-suite configuration includes private entrances and a rear courtyard.
Where is this office building located?
The property is located at 311 W University Ave Lafayette, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Seven offices, a conference room, kitchen, two lobbies, and two restrooms; Layout accommodates up to three individual tenant suites; Each tenant suite can have a private entrance
