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    Prime Retail Location Title is generated by Realmo AI

    301 Meadow Farm Dr, Lafayette, LA 70508

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    Excellent access, visibility, and robust demographics in Lafayette's retail corridor.

    Type:Retail, Special Purpose
    Property size:
    33,032 SF
    Price / SF:
    $837/SF
    Added:
    Mar 19, 2024
    Days on Market:
    805
    Last Refresh:
    May 12 at 8:55 pm

    Property Features for 301 Meadow Farm Dr

    General Information

    Standard status
    Active
    Size
    33,032 SF
    Property subtype
    Retail, Special Purpose

    Building Details

    Year Built
    2023

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    Listing Contact
    Putnam Daily

    Listing agent Putnam Daily License #CA 01750064

    Listing office Fisher James Capital

    Listing date Mar 19, 2024

    Source Crexi

    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 Fisher James Capital

    HighLights

    • Excellent access and visibility on Lafayette’s primary retail corridor.
    • Robust demographics: 343,000 daytime population within 15 miles.
    • High average household income: $90,347 within a 10‑mile radius.
    • Close proximity to Ambassador Town Center (5.8 million visits per year) with Costco, Dick’s Sporting Goods, and more.
    • Located near major retail tenants, shopping centers, schools, and employers.
    • New construction: Built in 2023.

    Overview

    The property is situated approximately 6.5 miles south of downtown Lafayette, offering excellent access and visibility along Lafayette’s primary retail corridor. It benefits from robust demographics, including a total daytime population of approximately 343,000 within a 15-mile radius and an average household income of $90,347 within a 10-mile radius. The property is located in close proximity to shopping centers, major retail tenants, schools, and employers. Nearby retail centers include Ambassador Town Center, featuring Costco, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, PetSmart, Sonic, BJ’s Restaurant & Brewhouse, and Chick-fil-A. Additional nearby retail locations include Crossroads South shopping center, anchored by Albertsons and Kohl’s with Petco, DSW, Starbucks, and Five Guys, and River Marketplace, which includes Target, Ross, Total Wine, Books-A-Million, Buffalo Wild Wings, and Raising Cane’s. Other notable nearby tenants include The Grand Theatre 14-screen movie theater, ALDI, Academy Sports, At Home, Whole Foods and Dave & Buster’s. The property size is 33032 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Map

    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.0308
    Latitude
    30.1523

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    FAQs

    What type of property is this?
    Retail property - Excellent access, visibility, and robust demographics in Lafayette's retail corridor.
    Where is this retail property located?
    The property is located at 301 Meadow Farm Dr Lafayette, LA.
    What is the asking price?
    The asking price for this property is $27,652,000.
    What are key features of this property?
    This property features: Excellent access and visibility on Lafayette’s primary retail corridor.; Robust demographics: 343,000 daytime population within 15 miles.; High average household income: $90,347 within a 10‑mile radius.
    (504) 586-8305 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Putnam Daily
    Real Estate License ID: CA 01750064
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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