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    4246 Evangeline Thruway Carencro, LA 70520

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    For Sale
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    1.32 Acres, I-49 Service Road, $425,000

    Property Features for 4246 Evangeline Thruway

    General Information

    Property type
    Land
    Lot Size
    57,499 SF

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    Listing Contact
    Tim Skinner
    Tim Skinner

    Listing Agency: Scout Real Estate Co. Listing Agent: Tim Skinner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 1.32-acre commercial land parcel presents a unique investment opportunity in the thriving Carencro, Louisiana market. Located at 4246 NE Evangeline Thruway, this unzoned property boasts a highly visible corner lot position on the I-49 Service Road, offering unparalleled accessibility and exposure. Its strategic location places it just a quarter-mile north of Don's Specialty Meats and only one mile north of the I-49 interchange at Hector Connoly Road, an area anchored by major retailers such as Super 1 Foods and Walmart. The property benefits from its proximity to significant recent development along this stretch of I-49 Service Road, including Southeastern Freight, Kenworth of Louisiana, and Don's Specialty Meats, indicating a strong and growing commercial corridor. The asking price for this exceptional land is $425,000. The property's size and location make it ideal for a variety of commercial or industrial uses, presenting a compelling opportunity for businesses seeking high visibility and convenient access to major transportation routes. The 70520 zip code further underscores the property's location within a dynamic and expanding commercial area of Lafayette Parish. This is a rare chance to acquire a substantial land parcel in a prime location with significant growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Carencro
    County
    Lafayette Parish
    State
    Louisiana
    Longitude
    -92.037994122703
    Latitude
    30.335455560188

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    FAQs

    What type of property is this?
    Land - 1.32 Acres, I-49 Service Road, $425,000
    Where is this land located?
    The property is located at 4246 Evangeline Thruway Carencro, LA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: $425,000 asking price.; 1.32-acre commercial/industrial land parcel.; Unzoned.
    (337) 443-0880 Call to check price and availability
    Request Owner's contact information
    4246 Evangeline Thruway Carencro, LA 70520
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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
    4246 Evangeline Thruway Carencro, LA 70520
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tim Skinner
    Tim Skinner
    Real Estate License ID: 0995683114
    (337) 443-0880 (337) 205-1635 (337) 501-6457
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