Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Luke Dr Lafayette, LA 70506-3034

    • Warehouses
    • 8,000 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2021
    $230,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1098825
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 120 Luke Dr

    Year built
    2003
    Lot size
    0.80 lot acres
    Property size
    8,000 SF
    Property type
    Warehouses
    APN
    6021693
    APU
    6021693

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.0607
    Latitude
    30.2207
    CBSA code
    29180
    CBSA name
    LAFAYETTE, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,301
    $12,196
    $19,278
    $31,474
    -
    $121,960
    $128,520
    $250,480

    Comparable in this City

    • Value Estimation by Request
      4.16 Acres

      600 Blk Rdg Rd

      MINI-WAREHOUSE, STORAGE • 4.16 Acres
      600 Blk Rdg Rd, Lafayette, LA 70506
      View Details
    • Value Estimation by Request
      0.21 Acres

      105 Aly 1st 1

      MINI-WAREHOUSE, STORAGE • 0.21 Acres
      105 Aly 1st 1, Lafayette, LA 70506-1552
      View Details
    • Value Estimation by Request
      0.42 Acres

      111 Ile Des Cannes Rd

      WAREHOUSE, STORAGE • 0.42 Acres
      111 Ile Des Cannes Rd, Lafayette, LA 70506
      View Details
    • Value Estimation by Request
      0.15 Acres

      106 Jackson Cir

      WAREHOUSE, STORAGE • 0.15 Acres
      106 Jackson Cir, Lafayette, LA 70506
      View Details
    • Value Estimation by Request
      9.14 Acres

      1811 Dulles Dr

      MINI-WAREHOUSE, STORAGE • 9.14 Acres
      1811 Dulles Dr, Lafayette, LA 70506-3724
      View Details
    • Value Estimation by Request
      0.82 Acres

      114 Kelly Dr

      WAREHOUSE, STORAGE • 0.82 Acres
      114 Kelly Dr, Lafayette, LA 70506-2226
      View Details

    Similar Nearby for Sale

    • $695,000
      20,184 SF

      Commercial Building with Warehouse Space

      20,184 SF commercial building with office and warehouse space.
      606 N University Ave, Lafayette, LA 70506
      View Details
    • $1,000,000

      Retail Space with Warehouse

      Retail space with warehouse in high-traffic area, great exposure.
      211 Guilbeau Rd, Lafayette, LA 70506
      View Details
    • $499,999
      5,609 SF

      Lafayette Industrial Warehouse For Sale

      5,609 SF Warehouse, Prime Location
      405 Wall St, Lafayette, LA 70506
      View Details
    • $1,000,000
      11,343 SF

      Retail Space with Warehouse

      Retail and warehouse space in high-traffic Lafayette location.
      211 Guilbeau Rd, Lafayette, LA 70506
      View Details
    • $950,000
      9,084 SF

      Commercial Building on Ambassador Caffery

      9,084 SF building on 1.2 acres, high-traffic location.
      1324 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $175,000
      3,200 SF

      Lafayette Industrial Warehouse For Sale

      Industrial warehouse near I-10, perfect for manufacturing and distribution.
      114 Salsman St, Lafayette, LA 70506
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      1,227 SF

      Lafayette Retail or Storage Space

      1227 SF space with bay door access on Ambassador.
      2310 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $12,000 /Mo
      24,318 SF

      Lafayette Industrial Facility For Lease

      24,318 SF industrial facility with renovated office area for lease.
      207 Easy St, Lafayette, LA 70506
      View Details
    • $5 SF/Yr
      51,136 SF

      Lafayette Industrial Warehouse Space

      51,136 SF Warehouse, Excellent Location
      200 Westmark Blvd, Lafayette, LA 70506
      View Details
    • $2,100 /Mo
      1,950 SF

      Lafayette Industrial Office/Warehouse For Rent

      Well-maintained office/warehouse with fenced storage yard and covered storage.
      130 Banks Ave, Lafayette, LA 70506
      View Details
    • $12,000 /Mo
      11,600 SF

      Versatile Space in Lafayette Corridor

      11,600+/- SF versatile space in established commercial corridor for rent.
      312 Westgate Rd, Lafayette, LA 70506
      View Details
    • $2,950 /Mo
      1,600 SF

      Lafayette Industrial Site with Bays

      Industrial site with mechanic and fuel bays for lease.
      210 Hebert Rd, Lafayette, LA 70506
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Luke Dr
    Lafayette, LA 70506-3034
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.