Automotive Shop with Bay
For Sale
$450,000
401 Eighth Street, Lafayette, LA 70501
COMMERCIAL - Lafayette, LA
Property Size3,700 SF
Lot Size0.29 Acres
Price / SF$121.62
Days on Market945
Property Features for 401 Eighth Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CH (Com Heavy)
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
16
Parking features
Garage, Parking Lot, Off Street
Security features
Security System
Exterior features
OH Door 16 - 20 Ft, Partially Fenced, Pole Sign
Fencing
Partial
Subdivision
Mccomb Addition
Lot features
Additional Land Avail, Level
Directions
From the Airport take Highway 90 North towards i-10. After Johnston Street it will be at the corner of the first street (Eighth Street) on the right.
Standard status
Active
APN
6149916
Size
3,700 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
PARCEL I MCCOMB ADDITION (0.182 AC) PARCEL II MCCOMB ADDITION (0.112 AC) (2013-9882) (FKA P LOTS 7 8 9 10 BLK 35 MC
Legal Description
PARCEL I MCCOMB ADDITION (0.182 AC) PARCEL II MCCOMB ADDITION (0.112 AC) (2013-9882) (FKA P LOTS 7 8 9 10 BLK 35 MC
Utilities
Heating system
Wall Furnace
Cooling system
Window Unit(s)
Water source
Public
Amenities
office
bathroom
storage room
warehouse
Building Details
Floors in Building
2
Flooring type
Vinyl, Concrete
Roof type
Metal
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
Tyler Albrecht · License #0995697749
(337) 780-9698
Added: Jan 27, 2024
Changed: Aug 4
Last Checked: Aug 29 at 3:06AM
MLS# 24000803
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.
Automotive shop property including a main building and a separate white building, designed to support muffler and tire service operations. The main building is 70 by 30 feet (2,100 square feet) and includes five spacious bay doors, plus a 200-square-foot office with a bathroom and a 100-square-foot storage room. A second 40 by 40-foot (1,600 square feet) white building is included as well, with half of the space used as an office and the other half as a warehouse.
The property sits on a 0.29-acre lot with a partially fenced perimeter. Exterior features include a pole sign and an overhead (OH) door sized 16–20 feet. Parking is provided via a parking lot with off-street spaces and a garage. Public water service is available, and the building has a metal roof.
Interior finishes include concrete and vinyl flooring, with a wall furnace for heating and window unit(s) for cooling.
The property sits on a 0.29-acre lot with a partially fenced perimeter. Exterior features include a pole sign and an overhead (OH) door sized 16–20 feet. Parking is provided via a parking lot with off-street spaces and a garage. Public water service is available, and the building has a metal roof.
Interior finishes include concrete and vinyl flooring, with a wall furnace for heating and window unit(s) for cooling.
Key Highlights
- 0.29‑acre lot with partially fenced perimeter
- Main building: 70 by 30 feet (2,100 SF) with five bay doors
- 200‑square‑foot office with bathroom in main building
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
$17,457
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
3.88%
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%
$349,140
$349.1K
Cap Rate 7%
$249,386
$249.4K
Cap Rate 9%
$193,967
$194.0K
Market Conditions
NOI Build-Up for 3,700 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
$26.2K $7.08/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$24.9K $6.74/SF
− OpEx
−$7.5K −$2.02/SF
NOI
$17.5K $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%
$349,140
Cap Rate 7%
$249,386
Cap Rate 9%
$193,967
Alternative Uses
Best Use
Retail
$641.0K
$560.9K – $747.9K
NOI $44,872 @ 7.0% cap · market cap 9.97%
Second Best
Industrial
$249.4K
$218.2K – $291.0K
NOI $17,457 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$874.8K
$765.5K – $1.02M
NOI $61,236 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Well-served
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Cajuns Auto Interior, LLC — 619 e convent st, lafayette, la 70501
Frequently Asked Questions
What type of property is this?
Auto shop - Zoned CH (Com Heavy) automotive shop with multiple bay doors and a partially fenced yard.
Where is this auto shop located?
The property is located at 401 Eighth Street Lafayette, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 0.29‑acre lot with partially fenced perimeter; Main building: 70 by 30 feet (2,100 SF) with five bay doors; 200‑square‑foot office with bathroom in main building
