Add Listing
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

    1218 University Ave Lafayette, LA 70506-1023

    • Office properties & Spaces
    • 2,304 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1010689
    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

    • Copies 'n' More / Department Store
    • Record Nations / Storage Facility

    Property Details for 1218 University Ave

    Year built
    1959
    Lot size
    0.26 lot acres
    Property size
    2,304 SF
    Property type
    Office properties & Spaces
    APN
    6015763
    APU
    6015763

    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
    -92.0333
    Latitude
    30.2464
    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
    $1,688
    $2,226
    $13,824
    $16,050
    -
    $22,260
    $92,160
    $114,420

    Comparable in this City

    • Value Estimation by Request
      1.19 Acres

      111 Keeling Dr

      OFFICE (GENERAL) • 1.19 Acres
      111 Keeling Dr, Lafayette, LA 70506-1222
      View Details
    • Value Estimation by Request
      21.64 Acres

      2390 Congress St

      OFFICE (GENERAL) • 21.64 Acres
      2390 Congress St, Lafayette, LA 70506-4205
      View Details
    • Value Estimation by Request
      1.00 Acre

      2932 Ambassador Caffery Pkwy

      OFFICE (GENERAL) • 1.00 Acre
      2932 Ambassador Caffery Pkwy, Lafayette, LA 70506-6756
      View Details
    • Value Estimation
      $1,050,000
      10,849 SF

      600 Domingue Ave

      OFFICE (GENERAL) • 10,849 SF
      600 Domingue Ave, Lafayette, LA 70506-6776
      View Details
    • Value Estimation by Request
      2,800 SF

      2133 Dulles Dr

      OFFICE (GENERAL) • 2,800 SF
      2133 Dulles Dr, Lafayette, LA 70506-2652
      View Details
    • Value Estimation
      $6,085,000
      64,996 SF

      200 Dulles Dr

      OFFICE (GENERAL) • 64,996 SF
      200 Dulles Dr, Lafayette, LA 70506-3006
      View Details

    Similar Nearby for Sale

    • $265,000
      1,261 SF

      Versatile Commercial Property in Lafayette

      Functional layout, excellent accessibility, ideal for professional uses.
      207 N Luke St, Lafayette, LA 70506
      View Details
    • $850,000
      6.30 Acres

      Lafayette Industrial Zoned Acreage

      Industrial-zoned land with office, mechanic bays, and stabilized yard.
      210 Hebert Rd, Lafayette, LA 70506
      View Details
    • Contact for pricing
      4,494 SF

      Leased Office Building on Corner

      4,494 SF office building leased to national tenant.
      2201 W Congress St, Lafayette, LA 70506
      View Details
    • Contact for pricing
      3,700 SF

      High-Visibility Automotive/Retail Facility

      Top-quality facility with high traffic exposure on 1.571 acres.
      2611 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $550,000
      2.00 Acres

      Prime Commercial Lot For Sale

      2-acre lot ideal for retail, restaurants, medical offices.
      120 Ridge Rd, Lafayette, LA 70506
      View Details
    • $515,000
      2,600 SF

      Lafayette Commercial Property For Sale

      Commercial property with offices, kitchen, and multi-use room.
      601 W University Ave, Lafayette, LA 70506
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      350 SF

      Affordable Lafayette Office Space Available

      Centrally located office space for rent in Lafayette, Louisiana.
      103 Westmark Blvd, Lafayette, LA 70506
      View Details
    • Contact for pricing
      2,186 SF

      Executive Office Suites For Lease

      Executive office suites for lease in a prime location.
      100 Asma Blvd, Lafayette, LA 70506
      View Details
    • Contact for pricing
      320 SF

      Lafayette Commercial Flex Space Available

      Modular container building with warehouse and office space for lease.
      1510 Westgate Road-Modular, Lafayette, LA 70506
      View Details
    • $1,350 /Mo
      1,280 SF

      Lafayette Commercial Retail/Office Space

      1,280 sq ft commercial space ideal for retail/office.
      249 N College Rd, Lafayette, LA 70506
      View Details
    • Contact for pricing
      11,600 SF

      Lafayette Commercial Space For Lease

      Versatile commercial space in a highly visible, established Lafayette corridor.
      312 Westgate Rd, Lafayette, LA 70506
      View Details
    • $5,250 /Mo
      3,500 SF

      Lafayette Commercial Space For Lease

      Retail, showroom, office, and warehouse space in Lafayette, LA.
      111 Westmark Blvd, 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.
    1218 University Ave
    Lafayette, LA 70506-1023
    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.
    Sign Up Successful!
    You now have access to more from Realmo!