Building Details

Buildings 2

Tenancy Multi

Listing Agency: McGeeScott Realty r***@mcgeescott.com Show Phone

Listed By: Andree Schlicher · License #0995687644 Show Phone

Source: Exprealty

Added: Aug 11 Changed: Oct 7 Last Checked: Oct 5 at 11:11PM

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Investment Insights

Based on property information with market context.

This fully occupied office property contains five commercial suites and an established tenant base. The building also includes a pole sign positioned at the corner, which may offer an advertising lease opportunity, along with a separate ATM building located along N Lewis Street that may provide another leasing option.

The property occupies the corner of N Lewis Street and Loreauville Road in New Iberia, placing the office suites at a high-traffic intersection. Its configuration combines occupied office space with additional structures and signage that may support separate leasing arrangements.

Key Highlights

• Five‑suite commercial office building
• All five suites are occupied
• Corner location at N Lewis Street and Loreauville Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,544

Cap Rate

8.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,010,880 $1.0M

Cap Rate 7%

$722,057 $722.1K

Cap Rate 9%

$561,600 $561.6K

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$86.4K $14.40/SF

− Vacancy

−$19.0K −$3.17/SF

EGI

$67.4K $11.23/SF

− OpEx

−$16.8K −$2.81/SF

NOI

$50.5K $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 Rate 5%

$1,010,880

Cap Rate 7%

$722,057

Cap Rate 9%

$561,600

Alternative Uses

Best Use

Office B

$722.1K

$631.8K – $842.4K (±1% cap)

NOI $50,544 @ 7.0% cap · market cap 8.95%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$992.4K

$868.3K – $1.16M (±1% cap)

NOI $69,466 @ 7.0% cap · market cap 12.29%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Chauvin Tim DDS Dental Office Swan Steven DDS Dental Office Iberia Sleep Center Medical Clinic A Net Esthetics Alternative Medicine Practice Ronnies Flooring center General Contractor

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic Carpet & Flooring Store Locksmith Grocery & Convenience Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Office units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

837

Businesses Nearby

Explore this area Business Placement

Demographics for 70563, LA

19,145

Population

8,663

Households

2.2

Avg Household Size

41

Median Age

21%

College-Educated

90%

High-School Grad

62.7 sq mi

ZIP Area

305

Density / Sq Mi

$73,555

Median Household Income

$47,011

Median Earnings

$975

Median Rent

$190,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Fully occupied office property with an established tenant base and two separate opportunities for additional leasing activity.

Where is this office units located?

The property is located at 715 N Lewis Street New Iberia, LA.

What is the asking price?

The asking price for this property is $565,000.

What are key features of this property?

This property features: Five‑suite commercial office building; All five suites are occupied; Corner location at N Lewis Street and Loreauville Road