Office Building with Rooftop
For Sale
$4,000,000
538 Jefferson Street, Lafayette, LA 70501
Commercial Sale, Lafayette, LA
Property Size24,850 SF
Price / SF$160.97
Days on Market137
Property Features for 538 Jefferson Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Garage
Directions
Down Jefferson Street across from Parking Tower
Subdivision
G3
Standard status
Active
APN
6072219
Size
24,850 SF
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
W P LOT 125-OLD CORP (JEFFERSON STREET MARKET)
Tax Annual Amount
18000
Legal Description
W P LOT 125-OLD CORP (JEFFERSON STREET MARKET)
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
conference rooms
meeting rooms
training rooms
full kitchen
rooftop deck
heavy electrical capacity
high-speed fiber internet
Building Details
Floors in Building
2
Flooring type
Concrete, Tile - Ceramic
Building materials
Brick, Frame
Roof type
Tar/Gravel
Buildings
1
Listing Agency:
Keaty Real Estate Team
(337) 235-7770
Listed By:
James Keaty · License #30974
(337) 344-4236
Added: Jun 9
Changed: Oct 23
Last Checked: Oct 23 at 5:06PM
MLS# 2600005138
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 24,850-square-foot office building at 538 Jefferson Street spans two floors. The renovated first floor offers approximately 15,500 square feet with a kitchen, conference and training areas, meeting rooms, restrooms, and open workspace. Above, approximately 9,350 square feet remains open, with plumbing in place. A rooftop deck serves the upper level, and the building also has brick and frame construction, central heating and air conditioning, and garage parking.
The property is in downtown Lafayette’s Historic Downtown District and Downtown Economic Development Zone. It sits across from the Vermilion parking garage entrance, with a park between the property and the entrance. Commercial zoning, heavy electrical capacity, fiber wiring, high-speed internet, and fire sprinklers are among the building’s documented features. The upper floor may be used in its current open condition or finished subject to a separate buildout arrangement; expansion of the rooftop deck would require approved plans.
The property is in downtown Lafayette’s Historic Downtown District and Downtown Economic Development Zone. It sits across from the Vermilion parking garage entrance, with a park between the property and the entrance. Commercial zoning, heavy electrical capacity, fiber wiring, high-speed internet, and fire sprinklers are among the building’s documented features. The upper floor may be used in its current open condition or finished subject to a separate buildout arrangement; expansion of the rooftop deck would require approved plans.
Key Highlights
- 24,850 square feet across two floors
- First floor offers approximately 15,500 SF of renovated space
- Second floor has approximately 9,350 SF of open space with plumbing in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$289,179
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,783,580
$5.8M
Cap Rate 7%
$4,131,129
$4.1M
Cap Rate 9%
$3,213,100
$3.2M
Market Conditions
NOI Build-Up for 24,850 SF
Gross rent
$447.3K $18.00/SF
− Vacancy
−$61.7K −$2.48/SF
EGI
$385.6K $15.52/SF
− OpEx
−$96.4K −$3.88/SF
NOI
$289.2K $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 Rate 5%
$5,783,580
Cap Rate 7%
$4,131,129
Cap Rate 9%
$3,213,100
Alternative Uses
Best Use
Office B
$4.13M
$3.61M – $4.82M
NOI $289,179 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.88M
$5.14M – $6.85M
NOI $411,277 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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
Frequently Asked Questions
What type of property is this?
Office building - Two floors combine a renovated, amenity-rich lower level with an open upper floor that has plumbing in place.
Where is this office building located?
The property is located at 538 Jefferson Street Lafayette, LA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 24,850 square feet across two floors; First floor offers approximately 15,500 SF of renovated space; Second floor has approximately 9,350 SF of open space with plumbing in place
