Former Bank Building with
For Sale
$250,000
631 E Admiral Doyle Dr, New Iberia, LA 70560
Former bank with two offices, large lobby, breakroom, two restrooms, and a drive-thru window.
Property Size1,800 SF
Price / SF$138.89
Days on Market636
Property Features for 631 E Admiral Doyle Dr
General Information
Standard status
Active
Size
1,800 SF
Listing Agency:
Caffery Real Estate, Inc.
(337) 367-7708
Listed By:
Michael Lamperez · License #995703666
(337) 519-8827
Source:
Exprealty
Added: Dec 9, 2024
Changed: Aug 23
Last Checked: Sep 5 at 2:37PM
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 Caffery Real Estate, Inc.
Investment Insights
Based on property information with market context.
This former bank building offers a functional layout for a professional use, with two offices, a large lobby, an employee breakroom, and two restrooms. The property also includes a drive-thru feature.
The site is located at 631 E Admiral Doyle Dr in New Iberia, Louisiana. The public remarks describe the property as having excellent visibility, which can support retail or office-facing operations.
While it was previously used as a bank, the space may be repurposed for other professional office, retail, or medical uses, depending on the buyer’s plans and applicable approvals.
The site is located at 631 E Admiral Doyle Dr in New Iberia, Louisiana. The public remarks describe the property as having excellent visibility, which can support retail or office-facing operations.
While it was previously used as a bank, the space may be repurposed for other professional office, retail, or medical uses, depending on the buyer’s plans and applicable approvals.
Key Highlights
- Former bank commercial property with features suited for professional office, retail, or medical use
- Drive‑thru window for customer service traffic
- Large lobby plus 2 offices
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
$15,163
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
6.07%
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%
$303,260
$303.3K
Cap Rate 7%
$216,614
$216.6K
Cap Rate 9%
$168,478
$168.5K
Market Conditions
NOI Build-Up for 1,800 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
$25.9K $14.40/SF
− Vacancy
−$5.7K −$3.17/SF
EGI
$20.2K $11.23/SF
− OpEx
−$5.1K −$2.81/SF
NOI
$15.2K $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 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%
$303,260
Cap Rate 7%
$216,614
Cap Rate 9%
$168,478
Alternative Uses
Best Use
Office B
$216.6K
$189.5K – $252.7K
NOI $15,163 @ 7.0% cap · market cap 6.07%
Second Best
Retail
$206.9K
$181.1K – $241.4K
NOI $14,485 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,840 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former bank with two offices, large lobby, breakroom, two restrooms, and a drive-thru window.
Where is this bank located?
The property is located at 631 E Admiral Doyle Dr New Iberia, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Former bank commercial property with features suited for professional office, retail, or medical use; Drive‑thru window for customer service traffic; Large lobby plus 2 offices
