Move-in Ready Professional Office
For Sale
$199,000
605 S Lewis St, New Iberia, LA 70560
Well-designed office building with recent updates and excellent visibility.
Property Size1,500 SF
Price / SF$132.67
Days on Market191
Property Features for 605 S Lewis St
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
14
Property subtype
Office
Zoning
C-3
Amenities
Water
Sewer
14 Parking Spaces
Listing Agency:
Compass Lafayette
Listed By:
Brennan Billeaud · License #0000069755
(337) 233-9541
Source:
Lacdb.resimplifi
Added: Apr 17
Changed: Oct 13
Last Checked: Oct 24 at 1:41PM
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 Compass Lafayette
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Investment Insights
Based on property information with market context.
This move-in ready professional office building features a functional layout that includes 4 private offices, a welcoming lobby with a reception area, a large storage closet, a kitchenette, and a restroom. Recent updates have been made throughout the property, including the HVAC system and electrical panel. The property is situated in a convenient location with excellent visibility. There are 14 parking spaces available, with additional room to expand the parking area if needed. The property is suitable for a variety of business uses and offers immediate occupancy.
Key Highlights
- Move‑in ready condition with recent HVAC and electrical panel updates.
- Convenient location with excellent visibility.
- Functional layout with 4 private offices, lobby/reception, storage, kitchenette, and restroom.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,636
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,720
$252.7K
Cap Rate 7%
$180,514
$180.5K
Cap Rate 9%
$140,400
$140.4K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$21.6K $14.40/SF
− Vacancy
−$4.8K −$3.17/SF
EGI
$16.8K $11.23/SF
− OpEx
−$4.2K −$2.81/SF
NOI
$12.6K $8.42/SF
Area
Iberia County, LA
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,720
Cap Rate 7%
$180,514
Cap Rate 9%
$140,400
Alternative Uses
Best Use
Office B
$180.5K
$158.0K – $210.6K
NOI $12,636 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$248.1K
$217.1K – $289.4K
NOI $17,366 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Well-designed office building with recent updates and excellent visibility.
Where is this office building located?
The property is located at 605 S Lewis St New Iberia, LA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Move‑in ready condition with recent HVAC and electrical panel updates.; Convenient location with excellent visibility.; Functional layout with 4 private offices, lobby/reception, storage, kitchenette, and restroom.
