Five-Suite Office
For Sale
$565,000
715 N Lewis Street, New Iberia, LA 70563
Fully occupied office property with an established tenant base and two separate opportunities for additional leasing activity.
Property Size6,000 SF
Price / SF$94.17
Days on Market9
Property Features for 715 N Lewis Street
General Information
Standard status
Active
Size
6,000 SF
Occupancy
100%
Additional Details
Road Access
Yes
Office Units
5
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
McGeeScott Realty
(337) 577-1414
Listed By:
Andree Schlicher · License #0995687644
(337) 577-1414
Source:
Exprealty
Added: Aug 11
Changed: Aug 17
Last Checked: Aug 18 at 1:13PM
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 McGeeScott Realty
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.
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 = 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
$50,544
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
8.95%
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%
$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
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
$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 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%
$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
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
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
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
432
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
Questions? Ask Rey
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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
