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    627 Lafayette St Lafayette, LA 70501

    Sponsored
    For Sale
    $175,000

    Prime 0.18-acre lot, mixed-use potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.18-acre commercial and residential lot is situated in the heart of Downtown Lafayette, Louisiana, at 627 Lafayette Street, zip code 70501. Boasting excellent visibility with approximately 113,041 daily vehicular traffic counts, this property presents a unique development opportunity. Zoned CM-2 (Commercial Mixed 2), it allows for a diverse range of uses, including retail, office, multifamily, or mixed-use developments. The property's location directly across from the Main Lafayette Public Library makes it highly desirable. Site plans for a 28-unit apartment complex with ground-floor retail space are available upon request. This is one of the few remaining undeveloped tracts in this prime downtown location, offering significant potential for multiple points of ingress and egress. The asking price for this exceptional property is $175,000, and the Assessor's Parcel Number (APN) is 6038744. Don't miss this chance to acquire a piece of Downtown Lafayette's vibrant future.

    Property Features for 627 Lafayette St

    General Information

    Property type
    Land
    Lot Size
    7,841 SF

    HighLights

    • Corner lot in Downtown Lafayette, LA.
    • Excellent visibility with ~113,041 daily vehicle traffic counts.
    • CM‑2 zoning allows retail, office, multifamily, or mixed‑use development.
    • Multiple points of ingress/egress potential.
    Property Profile 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 Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette Parish
    State
    Louisiana
    Longitude
    -92.02077565325
    Latitude
    30.22700968665

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    FAQs

    What type of property is this?
    Land - Prime 0.18-acre lot, mixed-use potential
    Where is this land located?
    The property is located at 627 Lafayette St Lafayette, LA.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Corner lot in Downtown Lafayette, LA.; Excellent visibility with ~113,041 daily vehicle traffic counts.; CM-2 zoning allows retail, office, multifamily, or mixed-use development.
    Request Owner's contact information
    627 Lafayette St Lafayette, LA 70501
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    Lafayette, LA 70501
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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
    627 Lafayette St Lafayette, LA 70501
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