Flex Space With
For Sale
$420,000
339 S Buchanan Street, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size4,370 SF
Lot Size0.02 Acres
Price / SF$96.11
Days on Market188
Property Features for 339 S Buchanan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
D
Parking features
On Street
Exterior features
Partially Fenced
Fencing
Partial
Subdivision
Mccomb Addition
Lot features
Level, Zero Lot Line
Directions
From I-49 South, turn right on E. Second Street, Sharp left to Voorhies St., Right on South Buchanan.
Standard status
Active
APN
6042348
Size
4,370 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Description
P LOTS 11 12 13 BLK 1 MCCOMB ADD SEC 67 T9S R4E (969.52 SQ FT)(PORTION OF ABANDONED ALLEY BEHIND P OF LOTS 12 & 13)
Legal Description
P LOTS 11 12 13 BLK 1 MCCOMB ADD SEC 67 T9S R4E (969.52 SQ FT)(PORTION OF ABANDONED ALLEY BEHIND P OF LOTS 12 & 13)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Tyler Albrecht · License #0995697749
(337) 780-9698
Added: Feb 5
Changed: Aug 4
Last Checked: Aug 12 at 1:06PM
MLS# 2600000647
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 4,370-square-foot flex property combines approximately 891 square feet of front retail or office space with 3,478 square feet of warehouse area at the rear. The building has concrete flooring, central heating and central air, a metal roof, public water, and partial fencing. Its configuration supports a range of commercial layouts within a single building while retaining a distinct storefront-facing area and larger back-of-house space.
The front entry is positioned on S Buchanan Street near Vine Street in Lafayette’s Central Business District, directly behind Opportunity Machine. On-street parking is available, with a pay lot across the street. The property occupies a 0.02-acre lot and is identified with D zoning.
The front entry is positioned on S Buchanan Street near Vine Street in Lafayette’s Central Business District, directly behind Opportunity Machine. On-street parking is available, with a pay lot across the street. The property occupies a 0.02-acre lot and is identified with D zoning.
Key Highlights
- 4,370‑square‑foot flex property with approximately 891 square feet of front commercial space
- Rear warehouse area measures 3,478 square feet
- Located in the Central Business District behind Opportunity Machine
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
1,535
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
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 - Central Business District property combining street-facing commercial space with substantial rear warehouse capacity.
Where is this flex space located?
The property is located at 339 S Buchanan Street 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: 4,370‑square‑foot flex property with approximately 891 square feet of front commercial space; Rear warehouse area measures 3,478 square feet; Located in the Central Business District behind Opportunity Machine
