Renovated Medical Office
For Sale
$490,000
4605 N University Avenue, Carencro, LA 70520
COMMERCIAL - Carencro, LA
Property Size3,049 SF
Lot Size0.66 Acres
Price / SF$160.71
Days on Market52
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
Covered, Parking Lot, 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: Aug 4
Last Checked: Aug 22 at 6:06PM
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.
Well appointed office building extensively renovated in 2018, configured with two office suites plus a shared common area. Suite 1 is approximately 1,200 square feet and is described as turnkey medical office space with select FF&E, previously owner-occupied and move-in ready for immediate use. Suite 2 is approximately 500 square feet and is currently leased on a short-term basis to an insurance company, with the tenant willing to remain or vacate at buyer discretion. The property also includes a kitchen and an additional room used as part of the shared common area, noted as not renovated but available for future expansion or customization.
The property is located at 4605 N University Avenue in Carencro, Louisiana (Lafayette County) and is identified under zoning CM-1 (Commercial).
The building is offered for sale with a 0.66-acre lot and approximately 3,049 square feet of total property size.
The property is located at 4605 N University Avenue in Carencro, Louisiana (Lafayette County) and is identified under zoning CM-1 (Commercial).
The building is offered for sale with a 0.66-acre lot and approximately 3,049 square feet of total property size.
Key Highlights
- Office building extensively renovated in 2018
- Configured as 2 office suites plus shared common area
- Suite 1: approx. 1,200 SF turnkey medical office space with select FF&E; move‑in ready for immediate use
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 units - Renovated office building offering two suites, including turnkey medical space with shared common area.
Where is this office units 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: Office building extensively renovated in 2018; Configured as 2 office suites plus shared common area; Suite 1: approx. 1,200 SF turnkey medical office space with select FF&E; move‑in ready for immediate use
