Versatile Office Property Near
311 W University Avenue Lafayette, LA 70501
311 W University Avenue, Lafayette, LA, 70501
$495,000
For Sale
$495,000
COMMERCIAL - Lafayette, LA
Property Size3,001 SF
Lot Size0.29 Acres
Price / SF$164.95
Days on Market245
Property Features for 311 W University Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CM-1 (COMMERCIA
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Parking features
- Parking Lot
- Exterior features
- Door Sign
- Standard status
- Active
- APN
- 6022502
- Size
- 3,001 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Description
- P LOTS 1-2-3-4-5-6 BLK 8 ELMHURST PARK ADD SE P OF LOTS 1-2-3-4 & P LOT 5 BLK 8 ELMHURST PARK ADD SE P OF LOTS 5-6 BLK 8 ELMHURST PARK ADD
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Flooring type
- Tile, Wood
- Roof type
- Built-Up
Listing Agency
Scout Real Estate Co.
(337) 443-0880
617 S Buchanan Street, Lafayette, LA
Listed by
Jeff Landry · License #995682229
(337) 257-5380
Added: Nov 14, 2025 Checked: Jul 17 at 7:06 pm
MLS# 2500005554
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 versatile office property is centrally located near the intersection of University Ave. and Johnston St., offering convenient access to Downtown Lafayette and the University of Lafayette. The building, with CM-1 Commercial Mixed Zoning, features seven offices, a conference room, a kitchen, two lobbies, and two restrooms. It offers the flexibility to accommodate up to three individual tenant suites, each with private entrances. The rear suite includes a private courtyard. Additional highlights include private parking and proximity to a city bus stop just 1 block away. The property has a size of 3001 square feet and sits on a lot of 0.29 acres.
Key Highlights
- CM‑1 Commercial Mixed Zoning allows for a wide range of potential uses.
- Centrally located near University Ave. and Johnston St.
- Flexibility to accommodate up to three individual tenant suites, each with private entrances.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $18.00 |
| − Vacancy | −$7.5k | −$2.48 |
| EGI | $46.6k | $15.52 |
| − OpEx | −$11.6k | −$3.88 |
| NOI | $34.9k | $11.64 |
3,001 SF · lease $18.00/SF/yr · vacancy 13.80% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kenneth D. St. ...
Law Firm
Christopher T. Lee
Law Firm
Russo Consulting Group
Consultant
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FAQs
What type of property is this?
Office units - Centrally located office property with flexible tenant suite options.
Where is this office units located?
The property is located at 311 W University Avenue 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: CM‑1 Commercial Mixed Zoning allows for a wide range of potential uses.; Centrally located near University Ave. and Johnston St.; Flexibility to accommodate up to three individual tenant suites, each with private entrances.
