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    1215 Evangeline Thruway Lafayette, LA 70501

    Sponsored
    For Sale
    $1,650,000

    14,000 SF Retail Center, 100% Occupied

    Property size:
    14,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 14,000-square-foot shopping center in Lafayette, LA, presents a compelling investment opportunity. Located at 1215 NW Evangeline Thruway, this single-story, multi-tenant property boasts 100% occupancy and a strong 9.9% cap rate. The asking price is $1,650,000, translating to $117.86 per square foot. Built in 2000, the center benefits from long-term tenants, many of whom have been in place since its construction. Five of the six tenants operate under triple net leases, covering their share of taxes, insurance, maintenance, and management fees. The property has been meticulously maintained by a local property management company. Situated on a 1.34-acre lot (APN 6108469) in a high-traffic area, the center enjoys daily traffic counts exceeding 50,000 vehicles on NW Evangeline Thruway and is conveniently located approximately half a mile from I-10, with over 70,000 vehicles passing daily. The property is zoned CH. This is a rare opportunity to acquire a stable, high-performing retail asset in a prime Lafayette location.

    Property Features for 1215 Evangeline Thruway

    General Information

    Property type
    Lifestyle centers
    Square Feet
    14,000 SF
    Lot Size
    58,370 SF

    Building Details

    Stories
    1

    HighLights

    • 14,000 SF shopping center in Lafayette, LA, offering a 9.9% cap rate.
    • Located at 1215 NW Evangeline Thruway, with 100% occupancy.
    • Asking price: $1,650,000 ($117.86/SF).
    • Built in 2000, featuring long‑term tenants with five of six under triple‑net leases.
    • Situated on a 1.34‑acre lot (APN 6108469) in a high‑traffic area with over 50,000 vehicles daily on NW Evangeline Thruway and near I‑10 (70,000+ vehicles daily).
    • Zoned CH.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Lafayette
    County
    Lafayette Parish
    State
    Louisiana
    Longitude
    -92.0144209
    Latitude
    30.2378256

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    FAQs

    What type of property is this?
    Lifestyle center - 14,000 SF Retail Center, 100% Occupied
    Where is this lifestyle center located?
    The property is located at 1215 Evangeline Thruway Lafayette, LA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: 14,000 SF shopping center in Lafayette, LA, offering a 9.9% cap rate.; Located at 1215 NW Evangeline Thruway, with 100% occupancy.; Asking price: $1,650,000 ($117.86/SF).
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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
    1215 Evangeline Thruway Lafayette, LA 70501
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