Former Bank Building with
For Sale
$525,000
410 W University Avenue, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size2,932 SF
Lot Size0.36 Acres
Price / SF$179.06
Days on Market94
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Property Features for 410 W University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM-1
Exterior features
Door Sign
Subdivision
Elmhurst Park
Lot features
Level
Directions
Former Rayne State Bank building on the corner of W. University and Lafayette Street
Standard status
Active
APN
6053015
Size
2,932 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
LOTS 16-17-18-19-20 BLK 2 ELMHURST PARK ADD
Legal Description
LOTS 16-17-18-19-20 BLK 2 ELMHURST PARK ADD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood
Roof type
Tar/Gravel
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Brennan Billeaud · License #0000069755
(337) 654-2591
Added: Jul 14
Changed: Oct 8
Last Checked: Oct 15 at 4:06PM
MLS# 2600006503
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,932-square-foot former bank building sits on a 0.36-acre parcel and includes an existing drive-through. Interior and building features include wood flooring, central heating and air conditioning, and a tar-and-gravel roof. Public water and sewer serve the property.
The site occupies the corner of W. University Avenue and Lafayette Street in downtown Lafayette. It is in Flood Zone X and is zoned CM-1. A deed restriction will prohibit use by banks and other lending institutions.
The site occupies the corner of W. University Avenue and Lafayette Street in downtown Lafayette. It is in Flood Zone X and is zoned CM-1. A deed restriction will prohibit use by banks and other lending institutions.
Key Highlights
- 2,932‑square‑foot former bank building with an existing drive‑through
- 0.36‑acre site at the corner of W. University Avenue and Lafayette Street
- CM‑1 zoning; deed restriction bars banks and other lending institutions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,098
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
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
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 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 7.26%
Second Best
Retail
$508.0K
$444.5K – $592.6K
NOI $35,558 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$693.2K
$606.6K – $808.8K
NOI $48,526 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,226
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Bank - CM-1 zoning and an existing drive-through support commercial use, subject to a restriction barring banks and lending institutions.
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 $525,000.
What are key features of this property?
This property features: 2,932‑square‑foot former bank building with an existing drive‑through; 0.36‑acre site at the corner of W. University Avenue and Lafayette Street; CM‑1 zoning; deed restriction bars banks and other lending institutions
