Building Details

Buildings 1

Stories 2

Building Size 12,200 SF

Tenancy Multi

Listing Agency: NAI Rampart Commercial Real Estate Lafayette

Listed By: Jeremy Harson · License #LA75901 Show Phone

Source: Lacdb.resimplifi

Added: Jan 22 Changed: Oct 15 Last Checked: Oct 16 at 5:49AM

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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 NAI Rampart Commercial Real Estate Lafayette

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Investment Insights

Based on property information with market context.

The two-story office building contains four separate suites arranged around a shared stairwell. It is fully occupied and includes a gated parking area. Recent work includes complete roof replacement in 2025, along with painting and sealing throughout the exterior.

Located at the N College and Bertrand intersection in Lafayette, the property is across from the UL track and field facility. The existing tenant roster fills all four suites, and most leases have substantial remaining terms, providing established occupancy with lease duration already in place.

Key Highlights

• Fully occupied two‑story office building with four distinct suites
• Four suites arranged around a common stairwell
• Complete roof replacement completed in 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$142,670

Cap Rate

7.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,853,400 $2.9M

Cap Rate 7%

$2,038,143 $2.0M

Cap Rate 9%

$1,585,222 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,260 SF

Gross rent

$220.7K $18.00/SF

− Vacancy

−$30.5K −$2.48/SF

EGI

$190.2K $15.52/SF

− OpEx

−$47.6K −$3.88/SF

NOI

$142.7K $11.64/SF

Area

Lafayette, LA

Vacancy

13.80%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,853,400

Cap Rate 7%

$2,038,143

Cap Rate 9%

$1,585,222

Alternative Uses

Best Use

Office B

$2.04M

$1.78M – $2.38M (±1% cap)

NOI $142,670 @ 7.0% cap · market cap 7.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.90M

$2.54M – $3.38M (±1% cap)

NOI $202,908 @ 7.0% cap · market cap 10.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Henry Orthopedics, Family ... Medical Clinic Dupont Chiropractic Alternative Medicine Practice Darrell Henderson, MD Physician BG Realty & Management ... Property Management Company Precision Rehabilitation Medical Clinic

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Storage Facility Electrical Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Office units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,279

Businesses Nearby

Explore this area Business Placement

Demographics for 70506, LA

39,801

Population

20,296

Households

2

Avg Household Size

36

Median Age

37%

College-Educated

91%

High-School Grad

20.8 sq mi

ZIP Area

1,914

Density / Sq Mi

$55,553

Median Household Income

$38,764

Median Earnings

$1,024

Median Rent

$215,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Two-story property offers four suites, gated parking, and recent exterior improvements at N College and Bertrand.

Where is this office building located?

The property is located at 401 N College Rd Lafayette, LA.

What is the asking price?

The asking price for this property is $1,875,000.

What are key features of this property?

This property features: Fully occupied two‑story office building with four distinct suites; Four suites arranged around a common stairwell; Complete roof replacement completed in 2025