Multi-Suite Office
For Sale
$495,000
311 W University Avenue, Lafayette, LA 70501
Commercial Sale, Lafayette, LA
Property Size3,001 SF
Lot Size0.29 Acres
Price / SF$164.95
Days on Market336
Property Features for 311 W University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM-1 (COMMERCIA
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot
Exterior features
Door Sign
Subdivision
Elmhurst Park
Lot features
Level
Directions
From Pinhook Rd, take University Ave, pass Johnston St. intersection, building will be about 1 block down on the left
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
Legal 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
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
conference room
kitchen
lobby
private courtyard
Building Details
Flooring type
Tile, Wood
Roof type
Built-Up
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Jeff Landry · License #995682229
(337) 257-5380
Added: Nov 14, 2025
Changed: Oct 8
Last Checked: Oct 16 at 11:06AM
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.
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 3,001-square-foot office building contains seven offices, a conference room, a kitchen, two lobbies, and two restrooms. The layout can be arranged as as many as three tenant suites, each with its own entrance. The rear suite also has a private courtyard. Interior finishes include tile and wood flooring, with central heating and air conditioning.
The property is near University Avenue and Johnston Street, with access to Downtown Lafayette and the University of Lafayette. A city bus stop is one block away. On-site parking is available, and the property is zoned CM-1 Commercial Mixed.
The property is near University Avenue and Johnston Street, with access to Downtown Lafayette and the University of Lafayette. A city bus stop is one block away. On-site parking is available, and the property is zoned CM-1 Commercial Mixed.
Key Highlights
- 3,001‑square‑foot office building with seven offices and a conference room
- Configurable for up to three suites, each with a separate entrance
- Rear suite includes a private courtyard
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
2,226
Businesses Nearby
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
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 - Seven offices and separate suite entrances support a flexible workplace layout.
Where is this office building 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: 3,001‑square‑foot office building with seven offices and a conference room; Configurable for up to three suites, each with a separate entrance; Rear suite includes a private courtyard
