Office Building with
New
For Sale
$675,000
617 S Buchanan Street, Lafayette, LA 70501
Commercial Sale, Lafayette, LA
Property Size3,000 SF
Lot Size0.21 Acres
Price / SF$225
Days on Market2
Property Features for 617 S Buchanan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
6
Parking features
Off Street, Covered
Exterior features
Door Sign
Subdivision
Old Corporation
Directions
From Johnston St, turn onto Jefferson St towards Downtown, take a left onto Vermilion St, then a right at the stop sign, the property will be down on your right.
Standard status
Active
APN
6040932
Size
3,000 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
P LOT 121 OLD CORPORATION (65X133.31X55.88X133.52)
Legal Description
P LOT 121 OLD CORPORATION (65X133.31X55.88X133.52)
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Flooring type
Wood
Building materials
Stucco
Roof type
Composition
Listing Agency:
Scout Real Estate Co.
(337) 443-0880
Listed By:
Jeff Landry · License #995682229
(337) 257-5380
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 2:06PM
MLS# 2600008163
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 3,000-square-foot office building occupies a 0.21-acre site at 617 S Buchanan Street in Lafayette. The property includes a balcony, private courtyard, two bathrooms, wood flooring, stucco construction, and a composition roof. Central air conditioning and central electric heating support the interior, while public water serves the building.
Zoned CBD, the property is situated within Lafayette’s central business district and provides covered, off-street parking on site, along with access to additional parking nearby. The configuration is suited to professional office operations, including law firm use, as identified in the property information.
Zoned CBD, the property is situated within Lafayette’s central business district and provides covered, off-street parking on site, along with access to additional parking nearby. The configuration is suited to professional office operations, including law firm use, as identified in the property information.
Key Highlights
- 3,000‑square‑foot office building on a 0.21‑acre site
- CBD zoning within Lafayette’s central business district
- Balcony and private courtyard
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
$34,911
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
5.17%
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%
$698,220
$698.2K
Cap Rate 7%
$498,729
$498.7K
Cap Rate 9%
$387,900
$387.9K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$7.5K −$2.48/SF
EGI
$46.5K $15.52/SF
− OpEx
−$11.6K −$3.88/SF
NOI
$34.9K $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 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%
$698,220
Cap Rate 7%
$498,729
Cap Rate 9%
$387,900
Alternative Uses
Best Use
Office B
$498.7K
$436.4K – $581.9K
NOI $34,911 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.3K
$620.6K – $827.5K
NOI $49,651 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - CBD-zoned office property with covered off-street parking, private outdoor space, and convenient access within Lafayette’s central business district.
Where is this office building located?
The property is located at 617 S Buchanan Street Lafayette, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,000‑square‑foot office building on a 0.21‑acre site; CBD zoning within Lafayette’s central business district; Balcony and private courtyard
