Automotive Service Property with Bay
For Sale
$450,000
401 Eighth St, Lafayette, LA 70501
Automotive service facility with multiple bay doors, on-site office, and included equipment for hands-on vehicle work.
Property Size3,700 SF
Price / SF$121.62
Days on Market115
Property Features for 401 Eighth St
General Information
Standard status
Active
Size
3,700 SF
Listing Agency:
Keaty Real Estate Team
Listed By:
Tyler Albrecht · License #0995697749
(337) 235-7770
Source:
Athomerealtyla
Added: Jun 15
Changed: Sep 10
Last Checked: Oct 6 at 12:35AM
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.
The property features two buildings designed for automotive service operations. The main building is 70 by 30 feet and includes five spacious bay doors, along with a 200-square-foot office with a bathroom and a 100-square-foot storage room to support daily workflow. A separate white building measuring 40 by 40 feet is also included; it is currently rented, with half of the space used as an office and the other half used as a warehouse.
The asset is offered for sale at 401 8th St in Lafayette, Louisiana. It has been an established automotive business site since 1983, specializing in mufflers and tires, and the sale includes equipment valued at $42,000. Included equipment listed consists of car lifts, tire machines, compressors, welding equipment, and other tools used in vehicle service and repair.
This setup can fit an owner-operator or buyer looking for an automotive-focused facility with functional bays, office space for customer intake or management, and storage for parts and supplies. It also provides the option to continue using the rented building’s office/warehouse configuration while operating service work from the main structure, supported by the included equipment package.
The asset is offered for sale at 401 8th St in Lafayette, Louisiana. It has been an established automotive business site since 1983, specializing in mufflers and tires, and the sale includes equipment valued at $42,000. Included equipment listed consists of car lifts, tire machines, compressors, welding equipment, and other tools used in vehicle service and repair.
This setup can fit an owner-operator or buyer looking for an automotive-focused facility with functional bays, office space for customer intake or management, and storage for parts and supplies. It also provides the option to continue using the rented building’s office/warehouse configuration while operating service work from the main structure, supported by the included equipment package.
Key Highlights
- Main shop building is 2,100 SF (70' x 30') with five spacious bay doors
- Includes a 200 SF office with a bathroom plus a 100 SF storage room
- Separate 1,600 SF (40' x 40') white building is currently rented for $1,000/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,198
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,960
$424.0K
Cap Rate 7%
$302,829
$302.8K
Cap Rate 9%
$235,533
$235.5K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$26.2K $7.08/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$24.9K $6.74/SF
− OpEx
−$3.7K −$1.01/SF
NOI
$21.2K $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 Rate 5%
$423,960
Cap Rate 7%
$302,829
Cap Rate 9%
$235,533
Alternative Uses
Best Use
Retail
$641.0K
$560.9K – $747.9K
NOI $44,872 @ 7.0% cap · market cap 9.97%
Second Best
Warehouse
$302.8K
$265.0K – $353.3K
NOI $21,198 @ 7.0% cap · market cap 4.71%
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
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Allstar Mobile Mechanics — 1211 Johnston St, Lafayette, LA 70506
- Joe's Upholstery — 1500 Jefferson St, Lafayette, LA 70501
- Wipe Out — 613 E Convent St, Lafayette, LA 70501
- Jazz Auto Glass — 1711 Jefferson St A, Lafayette, LA 70501
- Cajuns Auto Interior, LLC — 619 e convent st, lafayette, la 70501
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility with multiple bay doors, on-site office, and included equipment for hands-on vehicle work.
Where is this auto shop located?
The property is located at 401 Eighth St 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: Main shop building is 2,100 SF (70' x 30') with five spacious bay doors; Includes a 200 SF office with a bathroom plus a 100 SF storage room; Separate 1,600 SF (40' x 40') white building is currently rented for $1,000/month
