Leased Office Building on
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2201 W Congress St, Lafayette, LA 70506
4,494 SF office building leased to national tenant.
Property Size4,494 SF
Lot Size0.56 Acres
Price / SF$189.14
Days on Market772
Property Features for 2201 W Congress St
General Information
Standard status
Active
Size
4,494 SF
Class
A
Total Parking Spaces
23
Lot size
0.56 Acres
Property subtype
Office
Zoning
MN-1
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Built
1973
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Beau Box Commercial Real Estate Baton Rouge
(225) 333-9807
Listed By:
Cade Bogan · License #0995693088
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 10 at 5:45AM
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 Beau Box Commercial Real Estate Baton Rouge
Investment Insights
Based on property information with market context.
The subject property is a 4,494 square foot, one-story brick office building situated on a 0.561-acre corner lot. It is currently leased to a national tenant at $4,972 per month, which equates to a lease rate of $13.28 per square foot. The base term of the lease expires on February 28, 2027, and includes three one-year renewal options. The property is conveniently located between Bertrand Drive and Evangeline Thruway, both of which run north-south and provide direct connections to Interstate 10. Nearby attractions include the Cajundome and Cajun Field. Ochsner University Hospital & Clinics and Downtown Lafayette are a short drive away. The Lafayette Regional Airport is also easily accessible.
Key Highlights
- 4,494 sq ft brick office building leased to a national tenant
- Current lease generates $4,972 monthly income
- Lease expires February 28, 2027, with three one‑year renewal options
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
$52,297
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
6.15%
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%
$1,045,940
$1.0M
Cap Rate 7%
$747,100
$747.1K
Cap Rate 9%
$581,078
$581.1K
Market Conditions
NOI Build-Up for 4,494 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
$80.9K $18.00/SF
− Vacancy
−$11.2K −$2.48/SF
EGI
$69.7K $15.52/SF
− OpEx
−$17.4K −$3.88/SF
NOI
$52.3K $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%
$1,045,940
Cap Rate 7%
$747,100
Cap Rate 9%
$581,078
Alternative Uses
Best Use
Office B
$747.1K
$653.7K – $871.6K
NOI $52,297 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.7K – $1.24M
NOI $74,377 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
988
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 4,494 SF office building leased to national tenant.
Where is this office building located?
The property is located at 2201 W Congress St Lafayette, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,494 sq ft brick office building leased to a national tenant; Current lease generates $4,972 monthly income; Lease expires February 28, 2027, with three one‑year renewal options
