Flex Space with Office and
For Sale
$175,000
6615 N University Ave, Carencro, LA 70520
Office and warehouse areas support varied commercial workflows near I-49.
Property Size2,670 SF
Price / SF$65.54
Days on Market43
Property Features for 6615 N University Ave
General Information
Standard status
Active
Size
2,670 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
1,170 SF
Office Build-Out
1,500 SF
Building Details
Buildings
1
Building Size
2,670 SF
Listing Agency:
EXP Realty, LLC
Listed By:
Stacy Folse, Darrel J Folse · License #0995694514
Source:
Athomerealtyla
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 31 at 2:38AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This flex property combines professional office space with warehouse functionality in a light industrial/business building. The office portion measures approximately 1,500 square feet and contains six offices plus a restroom. Separate warehouse space adds 1,170 square feet and is served by two overhead doors, creating a practical division between administrative and operational areas.
The property is located at 6615 N University Ave in Carencro, Louisiana, immediately off the I-49 frontage road. Its access to I-49 supports convenient movement to and from the site. The configuration is identified for professional, commercial, hobby, residential, or mixed-use possibilities, subject to applicable requirements.
The property is located at 6615 N University Ave in Carencro, Louisiana, immediately off the I-49 frontage road. Its access to I-49 supports convenient movement to and from the site. The configuration is identified for professional, commercial, hobby, residential, or mixed-use possibilities, subject to applicable requirements.
Key Highlights
- Approximately 2,670 square feet total
- Approximately 1,500 sq. ft. of office space
- Six offices and one restroom in the office area
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
$15,541
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
8.88%
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%
$310,820
$310.8K
Cap Rate 7%
$222,014
$222.0K
Cap Rate 9%
$172,678
$172.7K
Market Conditions
NOI Build-Up for 2,670 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
$24.0K $9.00/SF
− Vacancy
−$120 −$0.05/SF
EGI
$23.9K $8.96/SF
− OpEx
−$8.4K −$3.13/SF
NOI
$15.5K $5.82/SF
Area
Lafayette County, LA
Vacancy
0.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$310,820
Cap Rate 7%
$222,014
Cap Rate 9%
$172,678
Alternative Uses
Best Use
Office B
$443.9K
$388.4K – $517.9K
NOI $31,071 @ 7.0% cap · market cap 17.75%
Second Best
Flex RnD
$222.0K
$194.3K – $259.0K
NOI $15,541 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 25.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70520, LA
20,017
Population
9,011
Households
2.2
Avg Household Size
37
Median Age
21%
College-Educated
87%
High-School Grad
38.8 sq mi
ZIP Area
516
Density / Sq Mi
$65,956
Median Household Income
$43,019
Median Earnings
$953
Median Rent
$199,600
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?
Flex space - Office and warehouse areas support varied commercial workflows near I-49.
Where is this flex space located?
The property is located at 6615 N University Ave Carencro, LA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Approximately 2,670 square feet total; Approximately 1,500 sq. ft. of office space; Six offices and one restroom in the office area
