Bank Building with
For Sale
$620,000
410 W University Ave, Lafayette, LA 70503
CM-1-zoned property sits at a downtown corner near businesses and government offices.
Property Size2,932 SF
Price / SF$211.46
Days on Market29
Property Features for 410 W University Ave
General Information
Standard status
Active
Size
2,932 SF
Zoning
CM-1
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Listing Agency:
Compass
(337) 654-2591
Listed By:
Brennan Billeaud · License #0000069755
(337) 654-2591
Source:
Exprealty
Added: Jul 15
Changed: Aug 10
Last Checked: Aug 11 at 12:00PM
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 Compass
Investment Insights
Based on property information with market context.
This 2,932-square-foot former bank building includes an existing drive-through and occupies the corner of W. University Avenue and Lafayette Street. The property is zoned CM-1 and lies within Flood Zone X, with a physical layout that retains a drive-through component for future operations.
Located at 410 W University Ave in downtown Lafayette, the building provides access to major thoroughfares, nearby businesses, and government offices. The seller will place a deed restriction covering banks and other lending institutions, a consideration for evaluating future use and acquisition plans.
Located at 410 W University Ave in downtown Lafayette, the building provides access to major thoroughfares, nearby businesses, and government offices. The seller will place a deed restriction covering banks and other lending institutions, a consideration for evaluating future use and acquisition plans.
Key Highlights
- 2,932‑square‑foot former bank building
- Existing drive‑through facility
- Corner location at W. University Avenue and Lafayette Street
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
$38,098
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
6.14%
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%
$761,960
$762.0K
Cap Rate 7%
$544,257
$544.3K
Cap Rate 9%
$423,311
$423.3K
Market Conditions
NOI Build-Up for 2,932 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
$55.2K $18.84/SF
− Vacancy
−$4.4K −$1.51/SF
EGI
$50.8K $17.33/SF
− OpEx
−$12.7K −$4.33/SF
NOI
$38.1K $12.99/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /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%
$761,960
Cap Rate 7%
$544,257
Cap Rate 9%
$423,311
Alternative Uses
Best Use
Specialty Retail
$544.3K
$476.2K – $635.0K
NOI $38,098 @ 7.0% cap · market cap 6.14%
Second Best
Retail
$508.0K
$444.5K – $592.6K
NOI $35,558 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$693.2K
$606.6K – $808.8K
NOI $48,526 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - CM-1-zoned property sits at a downtown corner near businesses and government offices.
Where is this bank located?
The property is located at 410 W University Ave Lafayette, LA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 2,932‑square‑foot former bank building; Existing drive‑through facility; Corner location at W. University Avenue and Lafayette Street
