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    Apollo Rd Scott, LA 70583
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    Apollo Rd, Scott, LA 70583

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    • Retail properties & Spaces
    • 4.00 lot acres
    For Sale
    $1,916,640
    View Listing →
    West Village Commercial Land For Sale
    $1,916,640

    West Village Commercial Land

    Scott, LA: Prime 4-acre mixed-use site

    0 Apollo Rd, Scott, LA 70583
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Apollo Rd

    Lot size
    4.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 4-acre commercial lot, situated in Scott, Louisiana's thriving West Village development, presents a unique investment opportunity. Located on Apollo Road, just one mile south of I-10, this property boasts 363.43 feet of frontage and 236.53 feet of depth, within the Apollo Road Corridor zoning. The land is priced at $11 per square foot, totaling $1,916,640. West Village is a dynamic 143-acre mixed-use development featuring approximately 400-450 planned single-family homes, a 220-unit apartment complex, a fitness center, a community pool, and a town square. Currently, the area includes established businesses such as Lourdes Physician Group, PJ's Coffee, a dental practice, a State Farm agency, and Louis Lane Boutique. Further enhancing the area's appeal, FNB Jeanerette, American Bank, and Teche Dermatology are under construction. Significant residential growth is imminent, with over 625 homes soon breaking ground in nearby subdivisions (Payton Woods, Berchman Oaks, Harvest Creek, The Pines, and Rue De Belier), adding over 1,000 new homes and 216 apartments within a one-mile radius. The site benefits from existing on-site utilities and requires no detention. The seller is open to subdividing the property, with pricing adjusted based on the resulting lot size and frontage. This prime location offers unparalleled potential for a variety of commercial ventures, capitalizing on the substantial residential growth and established commercial presence within West Village. The 160 dues-paying residents of the existing community provide a built-in customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scott
    County
    Lafayette Parish
    State
    Louisiana
    Longitude
    -92.103
    Latitude
    30.2271

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      814 I 10th S Frontage Rd

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    Similar Nearby for Lease

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      3,116 SF

      Retail Space in Growing Community

      Retail space available in the vibrant West Village community.
      809 Apollo Rd, Scott, LA 70583
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      Land For Rent in Scott

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      Restaurant Space with Drive-Thru

      Former coffee shop in high-growth area with drive-thru.
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      Scott, LA Commercial Space

      Office/retail space in a growing commercial area with high visibility.
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      Scott, LA Commercial Space

      Office/retail space in a growing commercial area with high visibility.
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      West Village Retail/Office Space

      Retail/office space in a growing commercial area with high visibility.
      1-1017 Apollo Rd, Scott, LA 70583
      View Details
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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.

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