Five-Suite Strip
New
For Sale
$565,000
715 N Lewis Street, New Iberia, LA 70563
COMMERCIAL - New Iberia, LA
Property Size6,000 SF
Lot Size0.87 Acres
Price / SF$94.17
Days on Market2
Property Features for 715 N Lewis Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 6, Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 7, Bathroom 1
Parking
25
Parking features
Parking Lot
Security features
Security System
Exterior features
Door Sign, Pole Sign, Roof Sign
Subdivision
Prioux
Lot features
Corner
Directions
Building sits on the corner of N Lewis St & Loreauville Rd.
Standard status
Active
APN
0505327000
Size
6,000 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Description
BEING PART LOT 3 & ALL LOT 4, BLK 4, PLAT 3, PRIOUX SUB.
Legal Description
BEING PART LOT 3 & ALL LOT 4, BLK 4, PLAT 3, PRIOUX SUB.
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Flooring type
Tile, Vinyl, Carpet - Full
Roof type
Metal
Listing Agency:
McGeeScott Realty
(337) 735-4040
Listed By:
Andree Schlicher · License #0995687644
(337) 577-1414
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# 2600007435
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,000-square-foot strip mall contains five occupied commercial suites on a 0.87-acre parcel. The property includes seven bathrooms, a parking lot, central air conditioning, electric heat, and a metal roof. Tile, vinyl, and full carpet flooring are present across the building, with public water service supporting the improvements.
Positioned at the corner of N Lewis Street and Loreauville Road in New Iberia, the property has pole, roof, and door signage. A separate ATM building along N Lewis Street provides an additional structure with potential leasing utility, while the corner pole sign may support advertising use. The property is zoned C-1 and includes established occupancy across the five suites.
Positioned at the corner of N Lewis Street and Loreauville Road in New Iberia, the property has pole, roof, and door signage. A separate ATM building along N Lewis Street provides an additional structure with potential leasing utility, while the corner pole sign may support advertising use. The property is zoned C-1 and includes established occupancy across the five suites.
Key Highlights
- 6,000 square feet across five occupied commercial suites
- 0.87‑acre parcel at N Lewis Street and Loreauville Road
- C‑1 zoning with public water service
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
$48,283
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
8.55%
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%
$965,660
$965.7K
Cap Rate 7%
$689,757
$689.8K
Cap Rate 9%
$536,478
$536.5K
Market Conditions
NOI Build-Up for 6,000 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
$72.0K $12.00/SF
− Vacancy
−$3.0K −$0.50/SF
EGI
$69.0K $11.50/SF
− OpEx
−$20.7K −$3.45/SF
NOI
$48.3K $8.05/SF
Area
Iberia County, LA
Vacancy
4.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$965,660
Cap Rate 7%
$689,757
Cap Rate 9%
$536,478
Alternative Uses
Best Use
Retail
$689.8K
$603.5K – $804.7K
NOI $48,283 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
73k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 49%
Shops & Services 36%
Dining 16%
Walmart Neighborhood Market
Groceries
35,832 visits/mo
0.4 miles
Chevron
Shops & Services
15,495 visits/mo
0.4 miles
Burger King
Dining
11,405 visits/mo
0.5 miles
Circle K
Shops & Services
7,072 visits/mo
0.3 miles
Regions Bank
Shops & Services
3,631 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied commercial center with multiple suites, C-1 zoning, on-site parking, and separate signage and ATM improvements.
Where is this strip mall 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: 6,000 square feet across five occupied commercial suites; 0.87‑acre parcel at N Lewis Street and Loreauville Road; C‑1 zoning with public water service
