Lafayette Entertainment Venue
For Sale
$1,700,000
417 Jefferson St, Lafayette, LA 70501
Iconic downtown Lafayette entertainment venue for sale.
Property Size9,155 SF
Price / SF$185.69
Days on Market145
Property Features for 417 Jefferson St
General Information
Standard status
Active
Size
9,155 SF
Listing Agency:
The Gleason Group
(337) 278-2048
Listed By:
Caitlyn Williams · License #0995684676
(337) 278-2048
Source:
Exprealty
Added: Mar 20
Changed: Jul 10
Last Checked: Aug 11 at 9:52AM
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 The Gleason Group
Investment Insights
Based on property information with market context.
Located at 417 Jefferson Street in downtown Lafayette, this property is an entertainment destination. It features a spacious open dance floor, an elevated performance stage, and three bar areas. One of the three bars is situated within an upper loft, previously utilized as a private lounge area, overlooking the main floor. The property is equipped with a full commercial kitchen complete with a grease trap, dedicated prep area, walk-in cooler, and commercial sink. A private rear lot provides an outdoor setting overlooking Parc International. The interior also includes four restrooms and three office-style rooms. The property is surrounded by destinations, including Central Pizza & Bar, Marley's Sports Bar, and Legends Annex. The property size is 9155 square feet.
Key Highlights
- Iconic downtown Lafayette entertainment venue with established recognition.
- Spacious open dance floor, elevated performance stage, and three bar areas designed for large crowds.
- Full commercial kitchen with grease trap, prep area, walk‑in cooler, and commercial sink.
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
$118,960
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
7.00%
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%
$2,379,200
$2.4M
Cap Rate 7%
$1,699,429
$1.7M
Cap Rate 9%
$1,321,778
$1.3M
Market Conditions
NOI Build-Up for 9,155 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
$172.5K $18.84/SF
− Vacancy
−$13.9K −$1.51/SF
EGI
$158.6K $17.33/SF
− OpEx
−$39.7K −$4.33/SF
NOI
$119.0K $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%
$2,379,200
Cap Rate 7%
$1,699,429
Cap Rate 9%
$1,321,778
Alternative Uses
Best Use
Specialty Retail
$1.70M
$1.49M – $1.98M
NOI $118,960 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.53M
NOI $151,519 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,310
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Night club - Iconic downtown Lafayette entertainment venue for sale.
Where is this night club located?
The property is located at 417 Jefferson St Lafayette, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Iconic downtown Lafayette entertainment venue with established recognition.; Spacious open dance floor, elevated performance stage, and three bar areas designed for large crowds.; Full commercial kitchen with grease trap, prep area, walk‑in cooler, and commercial sink.
