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 Market91
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 Lafayette
(501) 513-7394
Listed By:
Mark Johns · License #995715972
(501) 513-7394
Source:
Elifinrealty
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 31 at 1:04PM
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 Lafayette
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 = 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
$40,104
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
8.91%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,945
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 Industrial in South region
Questions? Ask Rey
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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
