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    1603 University Ave Lafayette, LA 70506

    For Sale
    $640,000

    Prime Lafayette location, high visibility.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.92-acre commercial land parcel, located at 1603 N University Ave in Lafayette, Louisiana (zip code 70506, APN 6055639), presents a unique investment opportunity. Priced at $640,000 ($13.00/sq ft), this unzoned property boasts 200 feet of road frontage on N University Avenue, offering unparalleled visibility and accessibility. Its strategic location off I-10 E provides convenient access to major transportation routes. The property benefits from its proximity to a thriving commercial corridor, including established businesses such as Cracker Barrel, numerous hotels, fast-food restaurants, and gas stations. Furthermore, its location near the Truman Early Childhood Learning Center (a $26.5 million development), Lafayette Christian Academy, Jw James Elementary School, Life Storage, and the new Arbours at Lafayette Apartments ensures high traffic and strong potential for future development. This prime location offers significant potential for a variety of commercial uses, making it an ideal investment for developers and entrepreneurs seeking a high-impact location in a rapidly growing area of Lafayette. The property's size and visibility make it an attractive option for businesses seeking high visibility and convenient access to a large customer base.

    Property Features for 1603 University Ave

    General Information

    Property type
    Land
    Lot Size
    40,075 SF

    HighLights

    • 0.92‑acre commercial land parcel in Lafayette, LA (70506), APN 6055639, priced at $640,000 ($13.00/sq ft).
    • 200 feet of road frontage on N University Avenue, offering high visibility and accessibility.
    • Strategic I‑10 E access and proximity to a thriving commercial corridor with established businesses.
    • High traffic area near Truman Early Childhood Learning Center, Lafayette Christian Academy, and new residential developments.
    • Unzoned, offering flexibility for various commercial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm 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
    -92.0361077
    Latitude
    30.2497111

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    FAQs

    What type of property is this?
    Land - Prime Lafayette location, high visibility.
    Where is this land located?
    The property is located at 1603 University Ave Lafayette, LA.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: 0.92-acre commercial land parcel in Lafayette, LA (70506), APN 6055639, priced at $640,000 ($13.00/sq ft).; 200 feet of road frontage on N University Avenue, offering high visibility and accessibility.; Strategic I-10 E access and proximity to a thriving commercial corridor with established businesses.
    (337) 781-9733
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    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
    1603 University Ave Lafayette, LA 70506
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