NNN Leased Drive-Thru
For Sale
Contact for pricing
2424 Ambassador Caffery Pkwy, Lafayette, LA 70506
Stand-alone NNN leased property with drive-thru for sale.
Property Size3,187 SF
Price / SF$313.15
Days on Market668
Property Features for 2424 Ambassador Caffery Pkwy
General Information
Standard status
Active
Size
3,187 SF
Property subtype
Retail
Zoning
CH
Occupancy
100%
Lease Type
NNN
Net Operating Income
$83,701
Building Details
Year Built
1998
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Saurage Rotenberg Commercial Real Estate
(225) 328-1778
Listed By:
Carmen Austin, MBA, CCIM, SIOR · License #LA BROK.0912122713-ASA
Source:
Crexi
Added: Oct 14, 2024
Changed: Aug 8
Last Checked: Aug 9 at 4:33AM
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 Saurage Rotenberg Commercial Real Estate
Investment Insights
Based on property information with market context.
This stand-alone property, comprising 3187 square feet, is available for sale. It is currently NNN leased and features a drive-thru. The property is suitable for retail, drive-through restaurants, and general commercial real estate purposes.
Key Highlights
- Stand Alone Property
- NNN Leased
- Features a Drive‑Thru
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
$41,412
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
4.15%
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%
$828,240
$828.2K
Cap Rate 7%
$591,600
$591.6K
Cap Rate 9%
$460,133
$460.1K
Market Conditions
NOI Build-Up for 3,187 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
$60.0K $18.84/SF
− Vacancy
−$4.8K −$1.51/SF
EGI
$55.2K $17.33/SF
− OpEx
−$13.8K −$4.33/SF
NOI
$41.4K $12.99/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /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%
$828,240
Cap Rate 7%
$591,600
Cap Rate 9%
$460,133
Alternative Uses
Best Use
Specialty Retail
$591.6K
$517.7K – $690.2K
NOI $41,412 @ 7.0% cap · market cap 4.15%
Second Best
Retail
$552.2K
$483.1K – $644.2K
NOI $38,651 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$753.5K
$659.3K – $879.1K
NOI $52,746 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Stand-alone NNN leased property with drive-thru for sale.
Where is this retail property located?
The property is located at 2424 Ambassador Caffery Pkwy Lafayette, LA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Stand Alone Property; NNN Leased; Features a Drive‑Thru
