Remodeled Conventional Restaurant
New
For Sale
$625,000
602 W Admiral Doyle Drive, New Iberia, LA 70560
Commercial Sale, New Iberia, LA
Property Size6,350 SF
Lot Size0.92 Acres
Price / SF$98.43
Days on Market2
Property Features for 602 W Admiral Doyle Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Exterior features
Outside Storage
Subdivision
Badeaux
Directions
Hwy 90 to New Iberia Take Jefferson Island Exit Left under overpass towards Admiral Doyle Left on Admiral Doyle Restauraant on right
Standard status
Active
APN
0500117407
Size
6,350 SF
Lot size
0.92 Acres
Taxes and HOA fees
Tax Description
1-200x200 Itme # 2 Badeaux, ZEZ ST. VERNA ST ADIRAL DOYLE DR. BEING PART OF BLK 6 BADEAUX SUB # 1
Legal Description
1-200x200 Itme # 2 Badeaux, ZEZ ST. VERNA ST ADIRAL DOYLE DR. BEING PART OF BLK 6 BADEAUX SUB # 1
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile - Ceramic
Additional Structures
Storage
Listing Agency:
Marquis Realty Group, LLC
(337) 451-6999
Listed By:
Lisa D Keeter · License #99563550
(337) 281-0947
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 7:06AM
MLS# 2600008118
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 conventional restaurant property contains 6,350 square feet on a 0.92-acre parcel and was remodeled in 2022. Improvements include new flooring, interior and exterior paint, a bar area, restaurant furnishings, and central air conditioning. The kitchen includes a freezer, cooler, stove, preparation area, and storage room, while a large office adds administrative space. Kitchen equipment and the existing furnishings are included in the sale.
The property also includes a rear trailer, outside storage, on-site parking, ceramic tile flooring, central heating, and public water service. Located at 602 W Admiral Doyle Drive in New Iberia, Louisiana, the property is identified with R2 zoning.
The property also includes a rear trailer, outside storage, on-site parking, ceramic tile flooring, central heating, and public water service. Located at 602 W Admiral Doyle Drive in New Iberia, Louisiana, the property is identified with R2 zoning.
Key Highlights
- 6,350‑square‑foot restaurant property on 0.92 acres
- 2022 remodel included flooring, paint, bar improvements, furnishings, and AC
- Commercial kitchen 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
$32,991
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
5.28%
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%
$659,820
$659.8K
Cap Rate 7%
$471,300
$471.3K
Cap Rate 9%
$366,567
$366.6K
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
$49.4K $7.78/SF
− Vacancy
−$2.3K −$0.36/SF
EGI
$47.1K $7.42/SF
− OpEx
−$14.1K −$2.23/SF
NOI
$33.0K $5.20/SF
Area
Iberia County, LA
Vacancy
4.60%
Lease Rate
$7.78 /SF/Yr
Expense Ratio
30.00%
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%
$659,820
Cap Rate 7%
$471,300
Cap Rate 9%
$366,567
Alternative Uses
Best Use
Industrial
$471.3K
$412.4K – $549.9K
NOI $32,991 @ 7.0% cap · market cap 5.28%
Second Best
Specialty Retail
$293.3K
$256.6K – $342.2K
NOI $20,531 @ 7.0% cap · market cap 3.28%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Mobil
Shops & Services
9,071 visits/mo
0.3 miles
Dollar General
Shops & Services
6,000 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
792 visits/mo
0.2 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 - Restaurant improvements include a bar, commercial kitchen equipment, office space, and furnishings included in the sale.
Where is this conventional restaurant located?
The property is located at 602 W Admiral Doyle Drive 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 on 0.92 acres; 2022 remodel included flooring, paint, bar improvements, furnishings, and AC; Commercial kitchen includes freezer, cooler, stove, preparation area, and storage room
