Brick Medical Office with
For Sale
$187,000
507 N Market Street, Opelousas, LA 70570
COMMERCIAL - Opelousas, LA
Property Size2,371 SF
Price / SF$78.87
Days on Market481
Property Features for 507 N Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking
9
Parking features
Off Street, Secured
Exterior features
Partially Fenced
Fencing
Partial
Lot features
Corner
Directions
From our office at 2000 Kaliste Saloom Rd. Approx a 33 minute drive. Continue on Kaliste Saloom Rd tp SE Evangeline Thruway ; continue north on NE Evangeline Thruway. I-49 Take Exit 19 onto E. Landry in Opelousas, LA. Turn right onto S. Union then left onto E. Bloch Street. Property is at the corner of E. Bloch St. & N. Market Street
Subdivision
L2
Standard status
Active
APN
0102692700
Size
2,371 SF
Taxes and HOA fees
Tax Description
Lot (77.5 x 120) N St Landry Clinic S Block St E Market St W St Landry Clinic 1188989 (Lot 1 Blk 5 N Market St
Legal Description
Lot (77.5 x 120) N St Landry Clinic S Block St E Market St W St Landry Clinic 1188989 (Lot 1 Blk 5 N Market St
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Roof type
Metal
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Ann Porche · License #16592
(337) 277-4652
Added: Apr 11, 2025
Changed: Jul 25
Last Checked: Aug 4 at 6:06PM
MLS# 2020022800
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.
Solid brick frame commercial building with a metal roof, offering a front lobby and reception area with additional access/egress doors. The interior includes a side employee REX room with bathroom, two oversized hallways for circulation to the front and rear areas, and a larger private office off the lobby with a bathroom plus an additional bathroom along the rear hallway by the back lot entry. Flooring, interior painting, lighting, and the HVAC system have been recently updated.
The property is located in Opelousas, Louisiana and includes nine on-street parking spaces with one handicap-accessible space, along with additional rear parking in back of the lot for employees.
Past usage is identified as a medical office and Acadiana Pharmacy. Floor plans and a complete list of amenities are available in the attached documents.
The property is located in Opelousas, Louisiana and includes nine on-street parking spaces with one handicap-accessible space, along with additional rear parking in back of the lot for employees.
Past usage is identified as a medical office and Acadiana Pharmacy. Floor plans and a complete list of amenities are available in the attached documents.
Key Highlights
- Solid brick frame construction with a metal roof
- Central heating and central A/C; flooring, interior painting, lighting, and HVAC recently updated
- Front lobby/reception area plus multiple access points with three other access/egress doors
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.6k | $10.80 |
| − Vacancy | −$2.0k | −$0.86 |
| EGI | $23.6k | $9.94 |
| − OpEx | −$7.1k | −$2.98 |
| NOI | $16.5k | $6.96 |
2,371 SF · lease $10.80/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$328.8K
$287.7K – $383.6K
NOI $23,018 @ 7.0% cap · market cap 12.31%
Second Best
Healthcare Medical
$316.5K
$276.9K – $369.2K
NOI $22,154 @ 7.0% cap · market cap 11.85%
Theoretical Best
Office A
$357.7K
$313.0K – $417.3K
NOI $25,038 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70570, LA
38,746
Population
17,099
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
171.8 sq mi
ZIP Area
226
Density / Sq Mi
$45,276
Median Household Income
$33,090
Median Earnings
$764
Median Rent
$151,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Solid brick office building with updated HVAC, lobby/reception, multiple offices, and on-street and rear parking.
Where is this medical office space located?
The property is located at 507 N Market Street Opelousas, LA.
What is the asking price?
The asking price for this property is $187,000.
What are key features of this property?
This property features: Solid brick frame construction with a metal roof; Central heating and central A/C; flooring, interior painting, lighting, and HVAC recently updated; Front lobby/reception area plus multiple access points with three other access/egress doors
