Corner Storefront
For Sale
$450,000
A-403 S Buchanan St, Lafayette, LA 70501
Well-maintained corner unit with street parking and access to a paid lot across the street.
Property Size2,521 SF
Price / SF$178.50
Days on Market353
Property Features for A-403 S Buchanan St
General Information
Standard status
Active
Size
2,521 SF
Additional Details
Corner Location
Yes
Listing Agency:
Compass
(337) 344-0067
Listed By:
Setareh A Mirian · License #99564700
(337) 344-0067
Source:
Exprealty
Added: Sep 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:36AM
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 Compass
Investment Insights
Based on property information with market context.
This 2,521-square-foot storefront property occupies a corner unit at A-403 S Buchanan St in Lafayette, Louisiana. The space is described as well maintained and retains distinctive character, with an existing long-term tenant in place.
Parking is available along the street, with additional access to a paid parking lot directly across the street. The corner positioning provides exposure along S Buchanan St and supports the property’s storefront configuration.
Parking is available along the street, with additional access to a paid parking lot directly across the street. The corner positioning provides exposure along S Buchanan St and supports the property’s storefront configuration.
Key Highlights
- 2,521‑square‑foot corner storefront unit
- Existing long‑term tenant in place
- Well‑maintained property with distinctive character
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,574
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$611,480
$611.5K
Cap Rate 7%
$436,771
$436.8K
Cap Rate 9%
$339,711
$339.7K
Market Conditions
NOI Build-Up for 2,521 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.5K $18.84/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$43.7K $17.33/SF
− OpEx
−$13.1K −$5.20/SF
NOI
$30.6K $12.13/SF
Area
Lafayette, LA
Vacancy
8.04%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$611,480
Cap Rate 7%
$436,771
Cap Rate 9%
$339,711
Alternative Uses
Best Use
Retail
$436.8K
$382.2K – $509.6K
NOI $30,574 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$596.1K
$521.6K – $695.4K
NOI $41,724 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained corner unit with street parking and access to a paid lot across the street.
Where is this storefront property located?
The property is located at A-403 S Buchanan St Lafayette, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,521‑square‑foot corner storefront unit; Existing long‑term tenant in place; Well‑maintained property with distinctive character
