Flex Space With
For Sale
$140,000
320 & 320a Center Street, New Iberia, LA 70560
COMMERCIAL - New Iberia, LA
Property Size2,400 SF
Lot Size0.34 Acres
Price / SF$58.33
Days on Market496
Property Features for 320 & 320a Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
On Street
Exterior features
Partially Fenced
Fencing
Partial
Directions
From Hwy 90 to New Iberia, exit Hwy 14/Center St. Property on the left.
Subdivision
I2
Standard status
Active
APN
0502955500
Size
2,400 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
Lot 17 & Part Lot 16, Blk 258, City Map
Legal Description
Lot 17 & Part Lot 16, Blk 258, City Map
Utilities
Heating system
Space Heater, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Caffery Real Estate, Inc.
(337) 367-7708
Listed By:
Katie I LaBauve · License #29166
(337) 519-5290
Added: Apr 4, 2025
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# 2020022471
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 C-1-zoned flex property at 320 & 320a Center Street includes 2,400 square feet of improvements on a 0.34-acre parcel. The layout pairs a 600-square-foot retail area with an adjoining stockroom and a separate 1,800-square-foot warehouse. Concrete flooring, a metal roof, partial fencing, and a bathroom are among the existing features. Heating is provided by space heaters and natural gas, with window-unit cooling and public water service.
An adjacent lot is included with the property, providing additional outdoor area alongside the building. Parking is available on the street. The property previously housed Labauve's Bicycle Shop for decades, and the address remains associated with bicycle repair and parts inquiries in the surrounding community.
An adjacent lot is included with the property, providing additional outdoor area alongside the building. Parking is available on the street. The property previously housed Labauve's Bicycle Shop for decades, and the address remains associated with bicycle repair and parts inquiries in the surrounding community.
Key Highlights
- 2,400 SF property on a 0.34‑acre parcel
- 600 SF retail area with adjoining stockroom
- 1,800 SF warehouse with concrete flooring
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
$12,469
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
8.91%
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%
$249,380
$249.4K
Cap Rate 7%
$178,129
$178.1K
Cap Rate 9%
$138,544
$138.5K
Market Conditions
NOI Build-Up for 2,400 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
$18.7K $7.78/SF
− Vacancy
−$859 −$0.36/SF
EGI
$17.8K $7.42/SF
− OpEx
−$5.3K −$2.23/SF
NOI
$12.5K $5.20/SF
Area
Iberia County, LA
Vacancy
4.60%
Lease Rate
$7.78 /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%
$249,380
Cap Rate 7%
$178,129
Cap Rate 9%
$138,544
Alternative Uses
Best Use
Retail
$275.9K
$241.4K – $321.9K
NOI $19,313 @ 7.0% cap · market cap 13.79%
Second Best
Warehouse
$216.3K
$189.3K – $252.4K
NOI $15,141 @ 7.0% cap · market cap 10.82%
Theoretical Best
Office A
$396.9K
$347.3K – $463.1K
NOI $27,786 @ 7.0% cap · market cap 19.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C-1-zoned flex space combines retail frontage, a stockroom, and a substantial warehouse area.
Where is this flex space located?
The property is located at 320 & 320a Center Street New Iberia, LA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 2,400 SF property on a 0.34‑acre parcel; 600 SF retail area with adjoining stockroom; 1,800 SF warehouse with concrete flooring
