Flex Space Facility with
For Sale
$990,000
312 Westgate Rd, Lafayette, LA 70506
Climate-controlled flex facility with offices, conference room, and ample parking for accommodating teams and clients.
Property Size10,000 SF
Price / SF$99
Days on Market107
Property Features for 312 Westgate Rd
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
63
Property subtype
Other
Zoning
T4
Listing Agency:
Epique Realty
Listed By:
Kiwi Bautista
(337) 706-4445
Source:
Lacdb.resimplifi
Added: May 31
Changed: Sep 4
Last Checked: Sep 12 at 3:39AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This flexible facility is climate-controlled and built for day-to-day operations, with durable stained concrete flooring throughout. The interior layout can support one larger enterprise or multiple businesses under a single roof, and includes a dedicated conference room, a spacious kitchen, two private offices, and multiple restrooms with three single restrooms plus a separate men’s restroom. For operational practicality, the property also includes a storage shed and three recently replaced 10-ton HVAC units intended to support year-round comfort.
Parking is a significant feature, with 63 on-site spaces plus an additional 20 spaces available through a transferable lease. The property is located in Flood Zone X, providing a noted level of flood-related peace of mind.
For buyers looking for flexible commercial space, the combination of office support areas, conference space, and multiple restroom setups can fit a range of operational needs—from office-forward production and warehousing support to service-oriented users requiring both team workspace and client-ready meeting space. The facility’s configuration allows for either consolidated use or division among multiple businesses, supported by its adaptable single-roof layout and in-place amenities.
Parking is a significant feature, with 63 on-site spaces plus an additional 20 spaces available through a transferable lease. The property is located in Flood Zone X, providing a noted level of flood-related peace of mind.
For buyers looking for flexible commercial space, the combination of office support areas, conference space, and multiple restroom setups can fit a range of operational needs—from office-forward production and warehousing support to service-oriented users requiring both team workspace and client-ready meeting space. The facility’s configuration allows for either consolidated use or division among multiple businesses, supported by its adaptable single-roof layout and in-place amenities.
Key Highlights
- 11,600 SF climate‑controlled flex facility with durable stained concrete flooring
- Layout includes a dedicated conference room, spacious kitchen, two private offices, and multiple restrooms (3 single + separate men’s)
- HVAC: three recently replaced 10‑ton units for year‑round comfort
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
$47,181
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
4.77%
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%
$943,620
$943.6K
Cap Rate 7%
$674,014
$674.0K
Cap Rate 9%
$524,233
$524.2K
Market Conditions
NOI Build-Up for 10,000 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
$70.8K $7.08/SF
− Vacancy
−$3.4K −$0.34/SF
EGI
$67.4K $6.74/SF
− OpEx
−$20.2K −$2.02/SF
NOI
$47.2K $4.72/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /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%
$943,620
Cap Rate 7%
$674,014
Cap Rate 9%
$524,233
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,370 @ 7.0% cap · market cap 11.75%
Second Best
Industrial
$674.0K
$589.8K – $786.4K
NOI $47,181 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,504 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled flex facility with offices, conference room, and ample parking for accommodating teams and clients.
Where is this flex space located?
The property is located at 312 Westgate Rd Lafayette, LA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 11,600 SF climate‑controlled flex facility with durable stained concrete flooring; Layout includes a dedicated conference room, spacious kitchen, two private offices, and multiple restrooms (3 single + separate men’s); HVAC: three recently replaced 10‑ton units for year‑round comfort
