Modern 11-Unit Apartment
For Sale
Contact for pricing
711 E Main St, Broussard, LA 70518
Built in 2022, this 11-unit property offers a mix of 3-bedroom layouts with in-unit washer/dryer and individually metered utilities.
Property Size23,772 SF
Price / SF$145.34
Days on Market162
Property Features for 711 E Main St
General Information
Standard status
Active
Size
23,772 SF
Total Parking Spaces
28
Property subtype
Multifamily
Zoning
mixed
Occupancy
91%
Additional Details
Multifamily Units
11
Building Details
Year Built
2022
Stories
2
Units
11
Tenancy
Multi
Listing Agency:
The Gleason Group
Listed By:
Will Taylor · License #LA 0995699690
(318) 664-4945
Source:
Crexi
Added: Mar 28
Changed: Aug 28
Last Checked: Sep 2 at 1:45AM
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 The Gleason Group
Investment Insights
Based on property information with market context.
The Sax is a modern 11-unit apartment building constructed in 2022. The property includes nine 3 bed/3 bath units and two additional 3 bed/2 bath units, with each unit equipped with stainless steel kitchen appliances and in-unit washer/dryer sets. Utilities are individually metered, with tenants responsible for electricity, water, and sewer, and the owner covering trash service only.
On-site parking totals 28 spaces to serve residents. Tenancy is currently in place, with 10 of the 11 units leased.
For sale as a residential income asset, The Sax provides a compact, professionally maintained multi-family configuration with a unit mix designed around larger bedroom layouts.
On-site parking totals 28 spaces to serve residents. Tenancy is currently in place, with 10 of the 11 units leased.
For sale as a residential income asset, The Sax provides a compact, professionally maintained multi-family configuration with a unit mix designed around larger bedroom layouts.
Key Highlights
- 11‑unit multi‑family built in 2022 in Broussard
- Unit mix includes nine 3 bed/3 bath units at 2,276 SF each and two 3 bed/2 bath units at 1,644 SF each
- Each unit has stainless steel kitchen appliances and an in‑unit washer/dryer set
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
$156,042
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
4.52%
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%
$3,120,840
$3.1M
Cap Rate 7%
$2,229,171
$2.2M
Cap Rate 9%
$1,733,800
$1.7M
Market Conditions
NOI Build-Up for 23,772 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
$319.5K $13.44/SF
− Vacancy
−$35.8K −$1.51/SF
EGI
$283.7K $11.93/SF
− OpEx
−$127.7K −$5.37/SF
NOI
$156.0K $6.56/SF
Area
Lafayette County, LA
Vacancy
11.20%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$3,120,840
Cap Rate 7%
$2,229,171
Cap Rate 9%
$1,733,800
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.60M
NOI $156,042 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.62M
$4.92M – $6.56M
NOI $393,436 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Residential units
90.9%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 70518, LA
16,683
Population
6,724
Households
2.5
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
41.7 sq mi
ZIP Area
400
Density / Sq Mi
$103,574
Median Household Income
$51,210
Median Earnings
$997
Median Rent
$287,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2022, this 11-unit property offers a mix of 3-bedroom layouts with in-unit washer/dryer and individually metered utilities.
Where is this apartment building located?
The property is located at 711 E Main St Broussard, LA.
What is the asking price?
The asking price for this property is $3,455,000.
What are key features of this property?
This property features: 11‑unit multi‑family built in 2022 in Broussard; Unit mix includes nine 3 bed/3 bath units at 2,276 SF each and two 3 bed/2 bath units at 1,644 SF each; Each unit has stainless steel kitchen appliances and an in‑unit washer/dryer set
