Climate-Controlled Flex
For Sale
$990,000
312 Westgate Road, Lafayette, LA 70506
COMMERCIAL - Lafayette, LA
Property Size11,600 SF
Lot Size0.86 Acres
Price / SF$85.34
Days on Market511
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
conference room
kitchen
private offices
restrooms
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: Aug 4
Last Checked: Aug 12 at 10:06AM
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.
Investment Insights
Based on property information with market context.
This 11,600-square-foot flex facility combines a climate-controlled interior with stained concrete flooring and a layout suited to either a single operation or multiple businesses. The building includes a conference room, kitchen, two private offices, three single restrooms, and a separate men’s restroom. Central heating and cooling are supported by three recently replaced 10-ton HVAC units, while a metal roof, partial fencing, an overhead door measuring 10 to 15 feet, and a storage building add practical utility.
The property occupies 0.86 acres in Lafayette, Louisiana, with Commercial zoning and Flood Zone X designation. On-site parking includes 63 spaces, with 20 additional spaces available through a transferable lease. Public water service is in place, and the exterior provides outside storage capacity.
The property occupies 0.86 acres in Lafayette, Louisiana, with Commercial zoning and Flood Zone X designation. On-site parking includes 63 spaces, with 20 additional spaces available through a transferable lease. Public water service is in place, and the exterior provides outside storage capacity.
Key Highlights
- 11,600‑square‑foot flex facility on 0.86 acres
- Three recently replaced 10‑ton HVAC units
- 63 on‑site parking spaces plus 20 available through a transferable lease
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
5.53%
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
Office B
$1.93M
$1.69M – $2.25M
NOI $134,989 @ 7.0% cap · market cap 13.64%
Second Best
Industrial
$781.9K
$684.1K – $912.2K
NOI $54,730 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,985 @ 7.0% cap · market cap 19.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
172
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex facility with adaptable interior space, private offices, meeting areas, storage, and dedicated 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 $990,000.
What are key features of this property?
This property features: 11,600‑square‑foot flex facility on 0.86 acres; Three recently replaced 10‑ton HVAC units; 63 on‑site parking spaces plus 20 available through a transferable lease
