Flex Space with
For Sale
$420,000
339 S Buchanan St, Lafayette, LA 70501
Front-facing commercial area connects to a substantial rear warehouse, supporting office, retail, and operational uses.
Property Size4,370 SF
Price / SF$96.11
Days on Market41
Property Features for 339 S Buchanan St
General Information
Standard status
Active
Size
4,370 SF
Additional Details
Road Access
Yes
Warehouse Space
3,478 SF
Building Details
Buildings
1
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Tyler Albrecht · License #0995697749
Source:
Athomerealtyla
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 7:54PM
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 Keaty Real Estate Team
Investment Insights
Based on property information with market context.
This flex-space property combines approximately 891 square feet of retail or office area at the front with 3,478 square feet of warehouse space behind it. The configuration places customer-facing or administrative functions separately from storage, production, or other back-of-house activity. Total property size is 4,370 square feet.
The entrance faces S Buchanan Street near the corner of Vine Street in Lafayette’s Central Business District. Street parking is available, and a pay lot is located across the street. The property is directly behind Opportunity Machine, providing a downtown setting with a mix of commercial and creative activity nearby.
The entrance faces S Buchanan Street near the corner of Vine Street in Lafayette’s Central Business District. Street parking is available, and a pay lot is located across the street. The property is directly behind Opportunity Machine, providing a downtown setting with a mix of commercial and creative activity nearby.
Key Highlights
- Approximately 891 SF of front retail or office space
- 3,478 SF of warehouse area in the rear
- 4,370 SF total property size
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
$25,036
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
5.96%
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%
$500,720
$500.7K
Cap Rate 7%
$357,657
$357.7K
Cap Rate 9%
$278,178
$278.2K
Market Conditions
NOI Build-Up for 4,370 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
$30.9K $7.08/SF
− Vacancy
−$1.5K −$0.34/SF
EGI
$29.5K $6.74/SF
− OpEx
−$4.4K −$1.01/SF
NOI
$25.0K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$500,720
Cap Rate 7%
$357,657
Cap Rate 9%
$278,178
Alternative Uses
Best Use
Retail
$757.1K
$662.5K – $883.3K
NOI $52,998 @ 7.0% cap · market cap 12.62%
Second Best
Office B
$726.5K
$635.7K – $847.6K
NOI $50,854 @ 7.0% cap · market cap 12.11%
Theoretical Best
Office A
$1.03M
$904.1K – $1.21M
NOI $72,325 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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 - Front-facing commercial area connects to a substantial rear warehouse, supporting office, retail, and operational uses.
Where is this flex space located?
The property is located at 339 S Buchanan St Lafayette, LA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Approximately 891 SF of front retail or office space; 3,478 SF of warehouse area in the rear; 4,370 SF total property size
