Climate-Controlled Flex
For Sale
$949,000
312 Westgate Road, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size11,000 SF
Lot Size0.86 Acres
Price / SF$81.81
Days on Market541
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
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
fitness room
conference facility
security service
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: Sep 11
Last Checked: Sep 11 at 12:06PM
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.
Investment Insights
Based on property information with market context.
This 11,600-square-foot flex facility on 0.86 acres provides a climate-controlled interior with stained concrete floors and a layout suited to one operation or multiple businesses. The building includes a conference room, kitchen, two private offices, three single restrooms, and a separate men's restroom. A storage shed, outside storage, partial fencing, and a 10- to 15-foot overhead door add functional support space.
The property offers 63 on-site parking spaces, plus 20 additional spaces available through a transferable lease. Three recently replaced 10-ton HVAC units support year-round interior comfort. Additional features include a metal roof, central heating and air conditioning, public water, and Flood Zone X designation. The property is located at 312 Westgate Road in Lafayette, Louisiana.
The property offers 63 on-site parking spaces, plus 20 additional spaces available through a transferable lease. Three recently replaced 10-ton HVAC units support year-round interior comfort. Additional features include a metal roof, central heating and air conditioning, public water, and Flood Zone X designation. The property is located at 312 Westgate Road in Lafayette, Louisiana.
Key Highlights
- 11,600 SF flex facility on 0.86 acres
- 63 on‑site parking spaces plus 20 available through a transferable lease
- Three recently replaced 10‑ton HVAC units
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
$54,730
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
5.77%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
4
Dock-high doors
2
Drive-in doors
94%
Occupancy
Single-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial-zoned facility with offices, conference space, kitchen, restrooms, and on-site parking.
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 SF flex facility on 0.86 acres; 63 on‑site parking spaces plus 20 available through a transferable lease; Three recently replaced 10‑ton HVAC units
