Remodeled Restaurant with Kitchen
New
For Sale
$625,000
602 Admiral Doyle Dr, New Iberia, LA 70560
Updated interiors, bar area, furnishings, and restaurant kitchen equipment are included.
Property Size6,350 SF
Price / SF$98.43
Days on Market4
Property Features for 602 Admiral Doyle Dr
General Information
Standard status
Active
Size
6,350 SF
Additional Details
Equipment Included
Yes
Amenities
New Bar Area
Large office space
Storage room
Trailer
Building Details
Year Renovated
2022
Listing Agency:
Marquis Realty Group, LLC
(337) 281-0947
Listed By:
Lisa D Keeter · License #99563550
(337) 281-0947
Source:
Exprealty
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 6:01PM
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 Marquis Realty Group, LLC
Investment Insights
Based on property information with market context.
Located at 602 Admiral Doyle Dr in New Iberia, this 6,350-square-foot restaurant property received a remodel in 2022. Improvements include new flooring, refreshed interior and exterior paint, a redesigned bar area with neon lighting, new air conditioning, and replacement tables, booths, and stools.
The sale includes kitchen equipment, including a freezer, cooler, stove, spacious preparation area, and storage room. The property also provides a large office, plenty of parking, and a rear trailer included with the sale. Its existing restaurant layout and event-oriented features support continued food-service use or adaptation for other business needs.
The sale includes kitchen equipment, including a freezer, cooler, stove, spacious preparation area, and storage room. The property also provides a large office, plenty of parking, and a rear trailer included with the sale. Its existing restaurant layout and event-oriented features support continued food-service use or adaptation for other business needs.
Key Highlights
- 6,350‑square‑foot restaurant property in New Iberia
- 2022 remodel included flooring, paint, bar area, AC, and furniture
- Kitchen equipment includes freezer, cooler, stove, preparation area, and storage room
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
$20,531
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
3.28%
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%
$410,620
$410.6K
Cap Rate 7%
$293,300
$293.3K
Cap Rate 9%
$228,122
$228.1K
Market Conditions
NOI Build-Up for 6,350 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
$28.6K $4.50/SF
− Vacancy
−$1.2K −$0.19/SF
EGI
$27.4K $4.31/SF
− OpEx
−$6.8K −$1.08/SF
NOI
$20.5K $3.23/SF
Area
Iberia County, LA
Vacancy
4.20%
Lease Rate
$4.50 /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%
$410,620
Cap Rate 7%
$293,300
Cap Rate 9%
$228,122
Alternative Uses
Best Use
Specialty Retail
$293.3K
$256.6K – $342.2K
NOI $20,531 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$919.0K – $1.23M
NOI $73,518 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
234k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 33%
Groceries 17%
Apparel 7%
Rouses Market
Groceries
40,468 visits/mo
0.4 miles
McDonald's
Dining
29,387 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
21,450 visits/mo
0.4 miles
SONIC Drive In
Dining
13,184 visits/mo
0.1 miles
Chase Bank
Shops & Services
12,701 visits/mo
0.4 miles
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated interiors, bar area, furnishings, and restaurant kitchen equipment are included.
Where is this conventional restaurant located?
The property is located at 602 Admiral Doyle Dr New Iberia, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 6,350‑square‑foot restaurant property in New Iberia; 2022 remodel included flooring, paint, bar area, AC, and furniture; Kitchen equipment includes freezer, cooler, stove, preparation area, and storage room
