Auto Shop with Roll-Up
For Sale
$495,000
418 Sw Evangeline Trwy, Lafayette, LA 70501
Corner-lot automotive facility with substantial electrical capacity, dedicated office and restroom space, and multiple vehicle access points.
Property Size4,094 SF
Price / SF$120.91
Days on Market354
Property Features for 418 Sw Evangeline Trwy
General Information
Standard status
Active
Size
4,094 SF
Site & Location
Traffic Count
95,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Power
220 amps
Amenities
2-hour firewall
four large roll-up doors
private office
restroom
two 220 Amp breaker panels
security system
exterior lighting
paved and rock parking
multiple access points
Building Details
Buildings
1
Construction
metal
Listing Agency:
Keller Williams Realty Acadiana
(318) 787-8653
Listed By:
Robert A Burke · License #0099568021
(318) 787-8653
Source:
Exprealty
Added: Sep 12, 2025
Changed: Aug 30
Last Checked: Aug 31 at 6:23PM
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 Keller Williams Realty Acadiana
Investment Insights
Based on property information with market context.
This 4,094-square-foot automotive building occupies a concrete slab and uses iron-beam construction with a 2-hour firewall. The layout includes four large roll-up doors, a private office, and a restroom. Two separate 220 Amp breaker panels serve the property, with capacity for future electrical expansion. The building is currently operating as a body and paint shop.
Located at 418 SW Evangeline Trwy in Lafayette, Louisiana, the property sits on a highly visible corner lot along the Evangeline Thruway. Reported daily traffic ranges from 68,000 to 95,000 vehicles. Paved and rock parking areas extend across the front and side of the building, while multiple access points support vehicle circulation. Exterior lighting and a security system are also in place. A certified oversized paint booth system and commercial-grade air compressor may be included with an acceptable offer.
Located at 418 SW Evangeline Trwy in Lafayette, Louisiana, the property sits on a highly visible corner lot along the Evangeline Thruway. Reported daily traffic ranges from 68,000 to 95,000 vehicles. Paved and rock parking areas extend across the front and side of the building, while multiple access points support vehicle circulation. Exterior lighting and a security system are also in place. A certified oversized paint booth system and commercial-grade air compressor may be included with an acceptable offer.
Key Highlights
- 4,094‑square‑foot automotive building on a concrete slab
- Four large roll‑up doors support vehicle access and shop operations
- Iron‑beam construction with a 2‑hour firewall
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
$19,316
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
3.90%
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%
$386,320
$386.3K
Cap Rate 7%
$275,943
$275.9K
Cap Rate 9%
$214,622
$214.6K
Market Conditions
NOI Build-Up for 4,094 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
$29.0K $7.08/SF
− Vacancy
−$1.4K −$0.34/SF
EGI
$27.6K $6.74/SF
− OpEx
−$8.3K −$2.02/SF
NOI
$19.3K $4.72/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
30.00%
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%
$386,320
Cap Rate 7%
$275,943
Cap Rate 9%
$214,622
Alternative Uses
Best Use
Retail
$709.3K
$620.6K – $827.5K
NOI $49,651 @ 7.0% cap · market cap 10.03%
Second Best
Industrial
$275.9K
$241.5K – $321.9K
NOI $19,316 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$968.0K
$847.0K – $1.13M
NOI $67,757 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
95,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
939
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Corner-lot automotive facility with substantial electrical capacity, dedicated office and restroom space, and multiple vehicle access points.
Where is this auto shop located?
The property is located at 418 Sw Evangeline Trwy Lafayette, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 4,094‑square‑foot automotive building on a concrete slab; Four large roll‑up doors support vehicle access and shop operations; Iron‑beam construction with a 2‑hour firewall
