Flex Space with Office
For Sale
$949,000
312 Westgate Road, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size11,600 SF
Lot Size0.86 Acres
Price / SF$81.81
Days on Market587
Property Features for 312 Westgate Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security System
Exterior features
OH Door 10 - 15 Ft, Partially Fenced, Outside Storage, Storage Building
Fencing
Partial
Directions
Starting on Ambassador Caffery Pkwy, pass by Popeyes Louisiana Kitchen. Turn left onto Eraste Landry Rd and turn right onto Westgate Rd and the destination will be on the left.
Subdivision
F
Standard status
Active
APN
6122044
Size
11,600 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Description
LOTS 23 24 25 26 27 OF NICKERSON COMMERCIAL DEVELOPMENT (APPROX 144.62X259.42X144.62X259. 23)
Legal Description
LOTS 23 24 25 26 27 OF NICKERSON COMMERCIAL DEVELOPMENT (APPROX 144.62X259.42X144.62X259. 23)
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
conference room
kitchen
storage shed
Building Details
Flooring type
Concrete
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Taylor Johnson · License #995716481
(337) 852-0867
Added: Mar 20, 2025
Changed: Oct 26
Last Checked: Oct 27 at 6:06AM
MLS# 2020021891
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.
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Investment Insights
Based on property information with market context.
This 11,600-square-foot flex property sits on 0.86 acres and has a climate-controlled interior with stained concrete floors. The layout includes a conference room, kitchen, two private offices, three single-user restrooms, and a separate men’s restroom. Three 10-ton HVAC units were recently replaced. Exterior features include a 10- to 15-foot overhead door, partial fencing, and a storage building.
The property has 63 on-site parking spaces, plus 20 additional spaces available through a transferable lease. It is in Flood Zone X and is served by public water and sewer.
The property has 63 on-site parking spaces, plus 20 additional spaces available through a transferable lease. It is in Flood Zone X and is served by public water and sewer.
Key Highlights
- 11,600 square feet on 0.86 acres
- 63 on‑site parking spaces, with 20 additional spaces available through a transferable lease
- Three recently replaced 10‑ton HVAC units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,730
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,600
$1.1M
Cap Rate 7%
$781,857
$781.9K
Cap Rate 9%
$608,111
$608.1K
Market Conditions
NOI Build-Up for 11,600 SF
Gross rent
$82.1K $7.08/SF
− Vacancy
−$3.9K −$0.34/SF
EGI
$78.2K $6.74/SF
− OpEx
−$23.5K −$2.02/SF
NOI
$54.7K $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 Rate 5%
$1,094,600
Cap Rate 7%
$781,857
Cap Rate 9%
$608,111
Alternative Uses
Best Use
Industrial
$781.9K
$684.1K – $912.2K
NOI $54,730 @ 7.0% cap · market cap 5.77%
Second Best
Flex RnD
$726.0K
$635.3K – $847.0K
NOI $50,821 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,985 @ 7.0% cap · market cap 20.23%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
353
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Mary's Restaurant & Catering — 202 Fenetre Rd, Scott, LA 70583
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled space combines private offices, a conference room, kitchen, and multiple restrooms.
Where is this flex space located?
The property is located at 312 Westgate Road Lafayette, LA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 11,600 square feet on 0.86 acres; 63 on‑site parking spaces, with 20 additional spaces available through a transferable lease; Three recently replaced 10‑ton HVAC units
