Renovated Office
For Sale
$490,000
4605 N University Avenue, Carencro, LA 70520
Commercial Sale, Carencro, LA
Property Size3,049 SF
Lot Size0.66 Acres
Price / SF$160.71
Days on Market98
Property Features for 4605 N University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CM-1 (COMMERCIA
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot, Covered, Off Street
Lot features
Level
Directions
From Lafayette, take N University Ave into Carencro. Office is on the left just before Melancon Funeral Home.
Subdivision
C
Standard status
Active
APN
6051541
Size
3,049 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Description
SEC 34 T8S R4E (0.66 AC) (150X192)
Legal Description
SEC 34 T8S R4E (0.66 AC) (150X192)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Tim Skinner · License #0995683114
(337) 205-1635
Added: Jul 2
Changed: Sep 12
Last Checked: Oct 7 at 7:06AM
MLS# 2600006027
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.
Renovated in 2018, this 3,049-square-foot office building contains two suites connected by a shared common area. Suite 1 provides approximately 1,200 square feet of medical office space with select FF&E, while Suite 2 includes approximately 500 square feet and is leased short term to an insurance company. The property also includes a kitchen, two bathrooms, tile flooring, central heating, and central air conditioning.
An additional room remains unrenovated and currently serves as shared common space, allowing for future customization within the existing building. The property sits on 0.66 acres at 4605 N University Avenue in Carencro, Louisiana, with public water service and a parking lot that includes covered and off-street spaces.
An additional room remains unrenovated and currently serves as shared common space, allowing for future customization within the existing building. The property sits on 0.66 acres at 4605 N University Avenue in Carencro, Louisiana, with public water service and a parking lot that includes covered and off-street spaces.
Key Highlights
- 3,049‑square‑foot office building renovated in 2018
- Two‑suite layout with shared common area
- Approximately 1,200 square feet of medical office space in Suite 1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,659
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two-suite office property with medical space, shared amenities, and covered parking.
Where is this office building located?
The property is located at 4605 N University Avenue 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 renovated in 2018; Two‑suite layout with shared common area; Approximately 1,200 square feet of medical office space in Suite 1
