Fully Occupied Office
For Sale
$1,875,000
401 N College Rd, Lafayette, LA 70506
Two-story property offers four suites, gated parking, and recent exterior improvements at N College and Bertrand.
Property Size12,200 SF
Price / SF$152.94
Days on Market222
Property Features for 401 N College Rd
General Information
Standard status
Active
Size
12,200 SF
Property subtype
Office
Zoning
CH
Occupancy
100%
Additional Details
Office Units
4
Building Details
Buildings
1
Stories
2
Building Size
12,200 SF
Tenancy
Multi
Listing Agency:
NAI Rampart Commercial Real Estate Lafayette
(337) 233-9541
Listed By:
Jeremy Harson · License #LA75901
(337) 233-9541
Source:
Lacdb.resimplifi
Added: Jan 22
Changed: Aug 31
Last Checked: Aug 31 at 1:23PM
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
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.
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 = 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
$142,670
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
7.61%
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%
$2,853,400
$2.9M
Cap Rate 7%
$2,038,143
$2.0M
Cap Rate 9%
$1,585,222
$1.6M
Market Conditions
NOI Build-Up for 12,260 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
$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 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%
$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
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
NOI $202,908 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
