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

    1215 Evangeline Trwy Lafayette, LA 70501-3500

    • Commercial real estate
    • 14,017 SF
    • 1.34 lot acres
    OFF-MARKET
    Value Estimations
    $1,415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0868884
    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

    • Commercial real estate

    Property Details for 1215 Evangeline Trwy

    Year built
    2001
    Lot size
    1.34 lot acres
    Property size
    14,017 SF
    Property type
    Commercial real estate
    APN
    6108469
    APU
    6108469

    Description

    This exceptional retail opportunity is located at 1215 NW Evangeline Thruway, Suite C, in Lafayette, LA, within a thriving shopping center. The 1,400 square foot space boasts excellent visibility and high foot traffic due to its prime location on NW Evangeline Thruway/I-49 Interstate. The property is part of a larger 14,000 square foot strip center situated on a 1.34-acre lot, featuring a single, one-story building. The center is anchored by established businesses, including Rent-A-Center, further driving customer traffic. Ample parking is available for customers. The property is zoned CH and located in the LACDB - D submarket of Lafayette Parish. This versatile space is ideal for a variety of retail uses, offering unparalleled exposure to a steady stream of potential customers. The convenient access and high visibility make this an excellent opportunity for businesses seeking to establish or expand their presence in a vibrant, high-traffic area. Currently, 1,400 square feet is available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,384,000
      Market price range: $615k - $2.27M
      AI Estimate
      $1,403,000
      Market price range: $693k - $2.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.0144
    Latitude
    30.2378
    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
    $13,213
    $20,399
    $105,840
    $126,239
    -
    $203,990
    $705,600
    $909,590

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      511 Saint John St

      COMMERCIAL (GENERAL) • 0.16 Acres
      511 Saint John St, Lafayette, LA 70501-5709
      View Details
    • Value Estimation by Request
      0.11 Acres

      1001 Simcoe St

      COMMERCIAL (GENERAL) • 0.11 Acres
      1001 Simcoe St, Lafayette, LA 70501-4530
      View Details
    • Value Estimation by Request
      0.02 Acres

      1406 Surrey St

      COMMERCIAL (GENERAL) • 0.02 Acres
      1406 Surrey St, Lafayette, LA 70501-7752
      View Details
    • Value Estimation by Request
      1.00 Acre

      1009 Hopkins St

      COMMERCIAL (GENERAL) • 1.00 Acre
      1009 Hopkins St, Lafayette, LA 70501
      View Details
    • Value Estimation by Request
      1.63 Acres

      213 I B St

      COMMERCIAL (GENERAL) • 1.63 Acres
      213 I B St, Lafayette, LA 70501
      View Details
    • Value Estimation by Request
      1.07 Acres

      104 Crockett St

      COMMERCIAL (GENERAL) • 1.07 Acres
      104 Crockett St, Lafayette, LA 70501-6238
      View Details

    Similar Nearby for Sale

    • $650,000
      0.50 Acres

      Lafayette Retail Property: Prime Location

      High-traffic retail space, excellent visibility.
      100 Castille Ave, Lafayette, LA 70501
      View Details
    • $1,940,598
      7.43 Acres

      Lafayette Commercial Land - 7.4 Acres

      Prime Lafayette location, ideal for development. All utilities available.
      800 Teurlings Dr, Lafayette, LA 70501
      View Details
    • $95,000
      750 SF

      Lafayette Commercial Land Opportunity

      750 SF Commercial Building, Prime Location
      314 Willow St, Lafayette, LA 70501
      View Details
    • Contact for pricing
      1.02 Acres

      Stirling Lafayette Outparcel Opportunity

      Prime I-10 Retail/Office Land
      3225 Louisiana Ave, Lafayette, LA 70501
      View Details
    • $175,000
      0.18 Acres

      Downtown Lafayette Development Lot

      Prime 0.18-acre lot, mixed-use potential
      627 Lafayette St, Lafayette, LA 70501
      View Details
    • $399,000
      1.27 Acres

      Prime Lafayette Commercial Land

      1.27 Acres, High Visibility, $399,000
      2401 Louisiana Ave, Lafayette, LA 70501
      View Details

    Similar Nearby for Lease

    • $216 SF/Yr
      6,601 SF

      Lafayette Office Space: 6th Floor Views

      Stunning Lafayette office, breathtaking views.
      102 Versailles Blvd, Lafayette, LA 70501
      View Details
    • $5 SF/Yr
      228,569 SF

      Lafayette Industrial Space Available

      Versatile warehouse, multiple tenants, 228,569 sqft
      1229 Evangeline Thruway, Lafayette, LA 70501
      View Details
    • $10 SF/Yr
      112,108 SF

      Lafayette Shopping Center Retail Space

      Retail spaces available in high-visibility Lafayette shopping center.
      2001 NW Evangeline Trwy, Lafayette, LA 70501
      View Details
    • $18 SF/Yr
      5,656 SF

      Downtown Lafayette Office Space Available

      Office suites with executive spaces, kitchens, and ample parking.
      700 St John St, Lafayette, LA 70501
      View Details
    • $1,350 /Mo
      551 SF

      Downtown Lafayette Office Space Available

      Premium office space in vibrant downtown Lafayette location.
      905 Jefferson St, Lafayette, LA 70501
      View Details
    • $6,500 /Mo
      3,825 SF

      Lafayette Office Space For Lease

      Road front office space with ample parking and flexible options.
      100 General Mouton Ave, Lafayette, LA 70501
      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.
    1215 Evangeline Trwy
    Lafayette, LA 70501-3500
    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.