Renovated Two-Suite Office
For Sale
$490,000
4605 N University Ave, Carencro, LA 70520
CM-1-zoned office property with medical improvements and shared common space.
Property Size3,049 SF
Price / SF$160.71
Days on Market59
Property Features for 4605 N University Ave
General Information
Standard status
Active
Size
3,049 SF
Total Parking Spaces
7
Property subtype
Office
Zoning
CM-1
Additional Details
Office Units
2
Amenities
kitchen
Power
Water
Sewer
Natural Gas
7 Parking Spaces
Building Details
Year Renovated
2018
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Tim Skinner · License #995715702
(337) 443-0880
Source:
Lacdb.resimplifi
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 28 at 8:06PM
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 Scout Real Estate Co.
Investment Insights
Based on property information with market context.
Located at 4605 N University Ave in Carencro, Louisiana, this 3,049-square-foot office building was extensively renovated in 2018 and arranged for two separate suites with shared common area. The approximately 1,200-square-foot first suite is configured as medical office space and includes select FF&E. A second suite of approximately 500 square feet is leased short term to an insurance company, with the tenant willing to remain or vacate at the buyer’s discretion.
Additional improvements include a kitchen and another room currently used as shared common space. That room has not been renovated, allowing the next owner to customize or expand the interior configuration. The property is zoned CM-1.
Additional improvements include a kitchen and another room currently used as shared common space. That room has not been renovated, allowing the next owner to customize or expand the interior configuration. The property is zoned CM-1.
Key Highlights
- 3,049‑square‑foot office building extensively renovated in 2018
- Two‑suite layout with shared common area
- Approximately 1,200 sq ft of medical office space with select FF&E
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
$36,659
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
7.48%
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%
$733,180
$733.2K
Cap Rate 7%
$523,700
$523.7K
Cap Rate 9%
$407,322
$407.3K
Market Conditions
NOI Build-Up for 3,049 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
$68.4K $22.44/SF
− Vacancy
−$7.3K −$2.40/SF
EGI
$61.1K $20.04/SF
− OpEx
−$24.4K −$8.02/SF
NOI
$36.7K $12.02/SF
Area
Lafayette County, LA
Vacancy
10.70%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
40.00%
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%
$733,180
Cap Rate 7%
$523,700
Cap Rate 9%
$407,322
Alternative Uses
Best Use
Healthcare Medical
$523.7K
$458.2K – $611.0K
NOI $36,659 @ 7.0% cap · market cap 7.48%
Second Best
Office B
$506.9K
$443.5K – $591.4K
NOI $35,481 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$720.9K
$630.8K – $841.0K
NOI $50,462 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 70520, LA
20,017
Population
9,011
Households
2.2
Avg Household Size
37
Median Age
21%
College-Educated
87%
High-School Grad
38.8 sq mi
ZIP Area
516
Density / Sq Mi
$65,956
Median Household Income
$43,019
Median Earnings
$953
Median Rent
$199,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - CM-1-zoned office property with medical improvements and shared common space.
Where is this office building located?
The property is located at 4605 N University Ave Carencro, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 3,049‑square‑foot office building extensively renovated in 2018; Two‑suite layout with shared common area; Approximately 1,200 sq ft of medical office space with select FF&E
