Former Bank with
410 W University Avenue Lafayette, LA 70506
For Sale
$720,000
Former bank building on a highly visible downtown corner with an existing drive-thru and CM-1 zoning.
Property Size2,932 SF
Price / SF$245.57
Days on Market10
Property Features for 410 W University Avenue
General Information
- Standard status
- Active
- Size
- 2,932 SF
Listing Agency:
Compass
(337) 654-2591
Listed By:
Brennan Billeaud · License #0000069755
(337) 654-2591
Source:
Exprealty
Added: Jul 15
Changed: Jul 22
Last Checked: Jul 23 at 8:24PM
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 former bank building is positioned on a highly visible corner in downtown Lafayette. The property includes an existing drive-thru feature, and it is zoned CM-1. The Seller will implement a deed restriction applicable to banks and other lending institutions.
The site is located in Flood Zone X and is situated at the corner of W. University Avenue and Lafayette Street, providing convenient access to major thoroughfares, businesses, and government offices.
The building’s existing drive-thru supports a variety of commercial uses, while the deed restriction limits applicability to banks and other lending institutions.
The site is located in Flood Zone X and is situated at the corner of W. University Avenue and Lafayette Street, providing convenient access to major thoroughfares, businesses, and government offices.
The building’s existing drive-thru supports a variety of commercial uses, while the deed restriction limits applicability to banks and other lending institutions.
Key Highlights
- Former bank building on the highly visible corner of W. University Avenue and Lafayette Street in downtown Lafayette
- CM‑1 zoning for a variety of commercial uses
- Existing drive‑thru on‑site
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.2k | $18.84 |
| − Vacancy | −$4.4k | −$1.51 |
| EGI | $50.8k | $17.33 |
| − OpEx | −$12.7k | −$4.33 |
| NOI | $38.1k | $12.99 |
2,932 SF · lease $18.84/SF/yr · vacancy 8.04% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$544.3K
$476.2K – $635.0K
NOI $38,098 @ 7.0% cap · market cap 5.29%
Second Best
Retail
$508.0K
$444.5K – $592.6K
NOI $35,558 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$693.2K
$606.6K – $808.8K
NOI $48,526 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rayne State Bank ...
Bank
Shazam Atm
Atm
FAQs
What type of property is this?
Bank - Former bank building on a highly visible downtown corner with an existing drive-thru and CM-1 zoning.
Where is this bank located?
The property is located at 410 W University Avenue Lafayette, LA.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Former bank building on the highly visible corner of W. University Avenue and Lafayette Street in downtown Lafayette; CM‑1 zoning for a variety of commercial uses; Existing drive‑thru on‑site
