Flex Space with
For Sale
Contact for pricing
606 N University Avenue, Lafayette, LA 70506
Central air and concrete exterior elements support a functional commercial property configuration.
Property Size1,394 SF
Days on Market79
Property Features for 606 N University Avenue
General Information
Standard status
Active
Size
1,394 SF
Total Parking Spaces
20
Zoning
CH
Amenities
Storage, Overhead Door 10-15 Ft
Central Air
Central
Storage
Partial
Concrete
Building Details
Building Size
1,394 SF
Stories
1
Listing Agency:
Parish Realty Acadiana
Listed By:
Lauren Gardiner · License #995691049
(337) 658-6508
Source:
Evrealestate
Added: Aug 10
Changed: Oct 26
Last Checked: Oct 26 at 3:31PM
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 Parish Realty Acadiana
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space property includes storage and central air conditioning. Concrete is present among the exterior features, and the property is zoned CH.
The property is at 606 N University Avenue in Lafayette, Louisiana. From the University exit, travel south; the property is on the left.
The property is at 606 N University Avenue in Lafayette, Louisiana. From the University exit, travel south; the property is on the left.
Key Highlights
- Zoned CH
- Interior storage
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,107
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,140
$122.1K
Cap Rate 7%
$87,243
$87.2K
Cap Rate 9%
$67,856
$67.9K
Market Conditions
NOI Build-Up for 1,394 SF
Gross rent
$9.9K $7.08/SF
− Vacancy
−$474 −$0.34/SF
EGI
$9.4K $6.74/SF
− OpEx
−$3.3K −$2.36/SF
NOI
$6.1K $4.38/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,140
Cap Rate 7%
$87,243
Cap Rate 9%
$67,856
Alternative Uses
Best Use
Warehouse
$114.1K
$99.8K – $133.1K
NOI $7,986 @ 7.0% cap · market cap 499.13%
Second Best
Industrial
$94.0K
$82.2K – $109.6K
NOI $6,577 @ 7.0% cap · market cap 411.06%
Theoretical Best
Office A
$329.6K
$288.4K – $384.5K
NOI $23,071 @ 7.0% cap · market cap 1,441.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Under-served
Demand for This Use
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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 Industrial in South region
Similar Off Market Nearby
- Jump In The Bayou LLC — 1506 Cameron St, Lafayette, LA 70501
- Shelby's Kitchen — 1100 Martin Luther King Jr Dr, Lafayette, LA 70501
Frequently Asked Questions
What type of property is this?
Flex space - Central air and concrete exterior elements support a functional commercial property configuration.
Where is this flex space located?
The property is located at 606 N University Avenue Lafayette, LA.
What are key features of this property?
This property features: Zoned CH; Interior storage; Central air conditioning
