Historic Downtown Lafayette Office
For Sale
Contact for pricing
814 S Washington St, Lafayette, LA 70501
Historic office building in Downtown Lafayette with multi-tenant potential.
Property Size4,281 SF
Price / SF$174.96
Days on Market369
Property Features for 814 S Washington St
General Information
Standard status
Active
Size
4,281 SF
Property subtype
Office
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1869
Year Renovated
1980
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
The Gleason Group
(337) 262-7873
Listed By:
Robert Crouchet, CCIM, ALC · License #LA 47346
Source:
Crexi
Added: Aug 29, 2025
Changed: Aug 14
Last Checked: Sep 1 at 8:10AM
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.
This historic office building, constructed in 1869 and renovated in 1980 for professional use, is located in Downtown Lafayette, within an Opportunity Zone and directly across from the Federal Courthouse. Listed on the Lafayette Historic Register, the property retains its original flooring and millwork. The building offers 12 offices, 2 conference rooms, and full Cat 5 wiring in conduit. Ample off-street and on-street parking is available. The 4,281 square-foot building is designed to operate as three separate units—two downstairs and one upstairs—each separately metered, individually keyed, and equipped with its own HVAC system. All units share a common entry hall with front and rear entrances, a coffee area, and two restrooms. The upstairs unit includes its own bathroom and exterior rear exit. Each downstairs unit has a separate rear entrance, with one also offering a private bathroom. The flexible layout is suitable for owner-occupants or investors seeking multi-tenant potential. The building is move-in ready and well-suited for legal, professional, or creative office use, and can accommodate up to eight attorneys and support staff. Potential tax advantages may be available for qualifying improvements due to its historic designation. The seller requests a 30-day leaseback after closing.
Key Highlights
- Prime Downtown Lafayette location, directly across from the Federal Courthouse and in an Opportunity Zone.
- Flexible layout designed for single or multi‑tenant use with three separately metered and keyed units, each with its own HVAC.
- Historic building with original flooring and millwork, listed on the Lafayette Historic Register, potentially offering tax advantages.
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
$49,818
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
6.65%
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%
$996,360
$996.4K
Cap Rate 7%
$711,686
$711.7K
Cap Rate 9%
$553,533
$553.5K
Market Conditions
NOI Build-Up for 4,281 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
$77.1K $18.00/SF
− Vacancy
−$10.6K −$2.48/SF
EGI
$66.4K $15.52/SF
− OpEx
−$16.6K −$3.88/SF
NOI
$49.8K $11.64/SF
Area
Lafayette, LA
Vacancy
13.80%
Lease Rate
$18.00 /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%
$996,360
Cap Rate 7%
$711,686
Cap Rate 9%
$553,533
Alternative Uses
Best Use
Office B
$711.7K
$622.7K – $830.3K
NOI $49,818 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$885.7K – $1.18M
NOI $70,852 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,029
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Historic office building in Downtown Lafayette with multi-tenant potential.
Where is this office building located?
The property is located at 814 S Washington St Lafayette, LA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Prime Downtown Lafayette location, directly across from the Federal Courthouse and in an Opportunity Zone.; Flexible layout designed for single or multi‑tenant use with three separately metered and keyed units, each with its own HVAC.; Historic building with original flooring and millwork, listed on the Lafayette Historic Register, potentially offering tax advantages.
