Affordable Commercial/Medical Building For
For Sale
$240,000
510 W 18th St W, Lake Charles, LA 70601
2,400 SF commercial or medical building with ample parking.
Property Size2,400 SF
Price / SF$100
Days on Market213
Property Features for 510 W 18th St W
General Information
Standard status
Active
Size
2,400 SF
Listing Agency:
Coldwell Banker Ingle Safari R
Listed By:
Steve Floyd · License #41445
(337) 274-5684
Source:
Athomerealtyla
Added: Mar 26
Changed: Oct 6
Last Checked: Oct 7 at 12:56PM
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 Coldwell Banker Ingle Safari R
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Investment Insights
Based on property information with market context.
This is a 2,400 square foot commercial or medical Class B/C building. The property features a large lobby, executive and reception offices, multiple exam rooms, and ample storage. There are 10 parking spaces, with 7 located in the front and 3 in the rear. The owner has occupied the property since 2004 and is relocating due to expansion needs. The property includes municipal water and sewer services. Trash pickup is provided by Republic for $159 for 2 cans. The annual property taxes are $1,317. The property is located in Flood Zone X, typically not requiring flood insurance. It offers an opportunity for a variety of commercial or medical uses.
Key Highlights
- Affordable 2,400 SF commercial/medical building.
- Suitable for a variety of commercial or medical uses.
- Includes a large lobby, executive and reception offices, and multiple exam rooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,060
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,200
$421.2K
Cap Rate 7%
$300,857
$300.9K
Cap Rate 9%
$234,000
$234.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$36.0K $15.00/SF
− Vacancy
−$7.9K −$3.30/SF
EGI
$28.1K $11.70/SF
− OpEx
−$7.0K −$2.93/SF
NOI
$21.1K $8.78/SF
Area
Calcasieu County, LA
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,200
Cap Rate 7%
$300,857
Cap Rate 9%
$234,000
Alternative Uses
Best Use
Healthcare Medical
$453.6K
$396.9K – $529.2K
NOI $31,752 @ 7.0% cap · market cap 13.23%
Second Best
Office B
$300.9K
$263.3K – $351.0K
NOI $21,060 @ 7.0% cap · market cap 8.77%
Theoretical Best
Specialty Retail
$517.3K
$452.7K – $603.5K
NOI $36,212 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
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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?
Medical Office Space - 2,400 SF commercial or medical building with ample parking.
Where is this medical office space located?
The property is located at 510 W 18th St W Lake Charles, LA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Affordable 2,400 SF commercial/medical building.; Suitable for a variety of commercial or medical uses.; Includes a large lobby, executive and reception offices, and multiple exam rooms.
