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    2201 Congress St Lafayette, LA 70506

    For Sale
    $850,000

    National Tenant, Stable Income, Prime Location

    Property size:
    4,494 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a 4,494 square foot, single-story brick office building in Lafayette, LA. Currently 100% occupied by a credit-rated national tenant under a modified lease with a remaining term of approximately 2.3 years, extending to February 28, 2027, with three one-year renewal options. The building, constructed in 1973, sits on a 0.561-acre corner lot, strategically positioned between Bertrand Drive and Evangeline Thruway, offering easy access to Interstate 10. The monthly rent is $4,972, translating to a lease rate of $13.28 per square foot. The asking price is $850,000, representing a price per square foot of $189.14. This Class B property, zoned MN-1, enjoys a prime location near the Cajundome, Cajun Field, Ochsner University Hospital & Clinics, and Downtown Lafayette, with convenient access to the Lafayette Regional Airport. The property offers a stable income stream with a long-term tenant, making it an attractive investment for discerning buyers. The property features one building with one story.

    Property Features for 2201 Congress St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    4,494 SF
    Class
    B
    Lot Size
    24,437 SF

    Building Details

    Year Built
    1973
    Buildings
    1
    Stories
    1
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette Parish
    State
    Louisiana
    Longitude
    -92.0363939
    Latitude
    30.2215616

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    FAQs

    What type of property is this?
    Office Property / Space - National Tenant, Stable Income, Prime Location
    Where is this office property / space located?
    The property is located at 2201 Congress St Lafayette, LA.
    What is the asking price?
    The asking price for this property is $850,000.
    (225) 333-9807
    Request Owner's contact information
    2201 Congress St Lafayette, LA 70506
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2201 Congress St Lafayette, LA 70506
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