Office Building with 8
For Sale
$420,000
601 W University Avenue, Lafayette, LA 70506
Commercial Sale, Lafayette, LA
Property Size2,600 SF
Lot Size0.14 Acres
Price / SF$161.54
Days on Market198
Property Features for 601 W University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
10
Security features
Security System
Subdivision
Elmhurst Park
Lot features
Corner
Directions
Johnston towards Evangeline throughway, left on University and Office is on the corner of St. John and University Ave.
Standard status
Active
APN
6052967
Size
2,600 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Lot 33 & P Lot 34 & N 15FT Lot 32 BLK 5 Elmhurst Park ADD (42 x 125)
Legal Description
Lot 33 & P Lot 34 & N 15FT Lot 32 BLK 5 Elmhurst Park ADD (42 x 125)
Utilities
Sewer type
Private Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
8 offices
2 baths
kitchen
mail/copy room
multi use room
Building Details
Flooring type
Tile - Ceramic
Roof type
Composition
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Michele Montesano · License #0995688543
(337) 298-8899
Added: Mar 24
Changed: Sep 26
Last Checked: Oct 7 at 12:06PM
MLS# 2600002406
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.
This 2,600-square-foot office building provides eight offices, two bathrooms, a kitchen, a mail and copy room, and a multi-use room. Ceramic tile flooring, central air conditioning, central electric heating, and a composition roof are among the existing building features. The property is served by public water and private sewer.
Set on 0.14 acres in Lafayette, the commercial property offers access to downtown and the University. Its combination of dedicated office rooms and supporting spaces provides a practical layout for a range of professional office operations.
Set on 0.14 acres in Lafayette, the commercial property offers access to downtown and the University. Its combination of dedicated office rooms and supporting spaces provides a practical layout for a range of professional office operations.
Key Highlights
- Eight offices within a 2,600‑square‑foot building
- Two bathrooms plus kitchen and multi‑use room
- Mail and copy room included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,256
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,120
$605.1K
Cap Rate 7%
$432,229
$432.2K
Cap Rate 9%
$336,178
$336.2K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$46.8K $18.00/SF
− Vacancy
−$6.5K −$2.48/SF
EGI
$40.3K $15.52/SF
− OpEx
−$10.1K −$3.88/SF
NOI
$30.3K $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%
$605,120
Cap Rate 7%
$432,229
Cap Rate 9%
$336,178
Alternative Uses
Best Use
Office B
$432.2K
$378.2K – $504.3K
NOI $30,256 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.7K
$537.9K – $717.2K
NOI $43,031 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,106
Businesses Nearby
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
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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?
Office building - Commercial office property with multiple private offices, support rooms, and convenient access to downtown and the University.
Where is this office building located?
The property is located at 601 W University Avenue Lafayette, LA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Eight offices within a 2,600‑square‑foot building; Two bathrooms plus kitchen and multi‑use room; Mail and copy room included
