Two-Story Medical Office
For Sale
$1,100,000
500 Juliette Pl, Lafayette, LA 70506
Corner-positioned facility includes exam rooms, treatment areas, laboratory space, and administrative areas.
Property Size6,500 SF
Price / SF$169.23
Days on Market363
Property Features for 500 Juliette Pl
General Information
Standard status
Active
Size
6,500 SF
Building Details
Buildings
1
Stories
2
Listing Agency:
NAI Rampart
(337) 298-6169
Listed By:
Dewitt C David · License #46838
(337) 298-6169
Source:
Exprealty
Added: Aug 25, 2025
Changed: Aug 21
Last Checked: Aug 22 at 12:37PM
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 NAI Rampart
Investment Insights
Based on property information with market context.
This two-story medical office property is arranged for clinical, administrative, and patient-support functions. The first floor includes a substantial reception and waiting area, handicap-accessible restroom, two reception stations, five offices, eight exam rooms, a laboratory, coffee room, supply room, and three additional restrooms. One office has a private restroom.
The upper level provides another lobby, a large treatment room, nursing station, mixing room, conference and breakroom area with washer and dryer connections, a small office, and three storage rooms. A partially finished section offers additional interior area within the existing building. The property occupies the corner of Juliette Place and St. Thomas Street in Lafayette, Louisiana, and was formerly used as the Allure Enhancement Center medical spa.
The upper level provides another lobby, a large treatment room, nursing station, mixing room, conference and breakroom area with washer and dryer connections, a small office, and three storage rooms. A partially finished section offers additional interior area within the existing building. The property occupies the corner of Juliette Place and St. Thomas Street in Lafayette, Louisiana, and was formerly used as the Allure Enhancement Center medical spa.
Key Highlights
- Two‑story medical office building at Juliette Place and St. Thomas Street
- Eight exam rooms plus a large treatment room
- First‑floor waiting area with handicap‑accessible restroom
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
$75,641
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
6.88%
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%
$1,512,820
$1.5M
Cap Rate 7%
$1,080,586
$1.1M
Cap Rate 9%
$840,456
$840.5K
Market Conditions
NOI Build-Up for 6,500 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
$117.0K $18.00/SF
− Vacancy
−$16.1K −$2.48/SF
EGI
$100.9K $15.52/SF
− OpEx
−$25.2K −$3.88/SF
NOI
$75.6K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /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%
$1,512,820
Cap Rate 7%
$1,080,586
Cap Rate 9%
$840,456
Alternative Uses
Best Use
Office B
$1.08M
$945.5K – $1.26M
NOI $75,641 @ 7.0% cap · market cap 6.88%
Second Best
Healthcare Medical
$1.05M
$921.4K – $1.23M
NOI $73,710 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,578 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,382
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
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?
Medical Office Space - Corner-positioned facility includes exam rooms, treatment areas, laboratory space, and administrative areas.
Where is this medical office space located?
The property is located at 500 Juliette Pl Lafayette, LA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑story medical office building at Juliette Place and St. Thomas Street; Eight exam rooms plus a large treatment room; First‑floor waiting area with handicap‑accessible restroom
