Mixed-Use Building with
For Sale
$450,000
700 W Congress St, Lafayette, LA 70501
The property combines a first-floor storefront, upstairs apartment, and adjoining warehouse under CM-2 zoning.
Property Size7,000 SF
Price / SF$64.29
Days on Market136
Property Features for 700 W Congress St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail
Zoning
CM-2
Building Details
Building Size
7,000 SF
Listing Agency:
Elifin Realty
Listed By:
Mark Johns · License #995715972
(501) 513-7394
Source:
Elifinrealty
Added: Jun 3
Changed: Oct 8
Last Checked: Oct 14 at 8:50PM
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 Elifin Realty
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Investment Insights
Based on property information with market context.
This ±7,000 SF mixed-use property brings multiple functions together in one building arrangement. The first floor contains retail space, while the second floor is configured as a 6-bedroom, 4-bathroom apartment. An adjacent warehouse adds dedicated commercial storage or operational space to the overall property.
The property is located at 700 W Congress St in Lafayette, Louisiana, adjacent to downtown Lafayette. CM-2, or Commercial Mixed 2, zoning is identified for the site. The combination of retail, residential, and warehouse components creates a varied physical layout within a single mixed-use asset.
The property is located at 700 W Congress St in Lafayette, Louisiana, adjacent to downtown Lafayette. CM-2, or Commercial Mixed 2, zoning is identified for the site. The combination of retail, residential, and warehouse components creates a varied physical layout within a single mixed-use asset.
Key Highlights
- ±7,000 SF mixed‑use property
- First‑floor retail space with second‑floor apartment
- 6‑bedroom, 4‑bathroom residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,104
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,080
$802.1K
Cap Rate 7%
$572,914
$572.9K
Cap Rate 9%
$445,600
$445.6K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$49.6K $7.08/SF
− Vacancy
−$2.4K −$0.34/SF
EGI
$47.2K $6.74/SF
− OpEx
−$7.1K −$1.01/SF
NOI
$40.1K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,080
Cap Rate 7%
$572,914
Cap Rate 9%
$445,600
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,894 @ 7.0% cap · market cap 18.87%
Second Best
Mixed Use
$1.16M
$1.01M – $1.35M
NOI $80,850 @ 7.0% cap · market cap 17.97%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,853 @ 7.0% cap · market cap 25.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,945
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a first-floor storefront, upstairs apartment, and adjoining warehouse under CM-2 zoning.
Where is this mixed-use property located?
The property is located at 700 W Congress St Lafayette, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: ±7,000 SF mixed‑use property; First‑floor retail space with second‑floor apartment; 6‑bedroom, 4‑bathroom residential unit
