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    Property profile & analytics

    129 Demanade Blvd Lafayette, LA 70503-2507

    • Office Properties & Spaces
    • 6,919 SF
    • 0.47 lot acres
    OFF-MARKET
    Last Sale
    Feb 10, 2025
    $875,000
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1051232
    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

    • Office Properties & Spaces

    Property Details for 129 Demanade Blvd

    Year built
    1970
    Lot size
    0.47 lot acres
    Property size
    6,919 SF
    Property type
    Office Properties & Spaces
    APN
    6091249
    APU
    6091249

    Description

    This exceptional 6,861-square-foot office building in Lafayette, Louisiana's prestigious Oil Center, presents a unique investment opportunity. Situated on a 0.47-acre lot at 129 Demanade Boulevard, 70503, this single-tenant property boasts a striking stucco facade and floor-to-ceiling windows, maximizing natural light and offering stunning courtyard views. The building's interior features 23 individual offices, several spacious executive suites, a well-equipped conference room, a kitchen, a copy room, and an IT room. Its prime location provides easy access to Girard Park, downtown Lafayette, and major thoroughfares, ensuring convenient commutes for employees. The Oil Center's vibrant atmosphere offers a wealth of amenities, including upscale restaurants, the Petroleum Club, shops, banks, medical facilities (including Ochsner Hospital), and various entertainment options. Furthermore, the property benefits from its proximity to significant medical expenditure areas, making it highly suitable for medical office use. An attached Oil Center Redevelopment Plan highlights the property's considerable future growth potential. This is a truly remarkable property, ideal for a discerning buyer seeking a high-quality, well-located office space in a thriving business district. The building's versatile layout and prime location make it suitable for a variety of uses, including traditional office, executive office, and medical office spaces.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $785,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,330,000
      6.5%
      $1,230,000
      7%
      $1,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $616,000
      Market price range: $568k - $1.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.0126
    Latitude
    30.2033
    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
    $6,621
    $15,485
    $47,735
    $63,220
    -
    $154,850
    $318,230
    $473,080

    Comparable in this City

    • Value Estimation
      $405,000
      7.00 Acres

      1214 Coolidge Blvd

      OFFICE (GENERAL) • 7.00 Acres
      1214 Coolidge Blvd, Lafayette, LA 70503-2621
      View Details
    • Value Estimation
      $230,000
      986 SF

      1144 Coolidge Blvd, Unit L

      OFFICE (GENERAL) • 986 SF
      1144 Coolidge Blvd, Lafayette, LA 70503-2622
      View Details
    • Value Estimation
      $265,000
      1,400 SF

      409 Pinhook Rd

      OFFICE (GENERAL) • 1,400 SF
      409 Pinhook Rd, Lafayette, LA 70503-2130
      View Details
    • Value Estimation
      $270,000
      1,581 SF

      4019 Johnston St

      OFFICE (GENERAL) • 1,581 SF
      4019 Johnston St, Lafayette, LA 70503-3811
      View Details
    • Value Estimation
      $375,000
      11,572 SF

      1313 Pinhook Rd

      OFFICE (GENERAL) • 11,572 SF
      1313 Pinhook Rd, Lafayette, LA 70503-2905
      View Details
    • Value Estimation
      $315,000
      0.73 Acres

      1030 Saint Mary Blvd

      OFFICE (GENERAL) • 0.73 Acres
      1030 Saint Mary Blvd, Lafayette, LA 70503-2300
      View Details

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      Opportunity Zone Building For Sale

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    Similar Nearby for Lease

    • $17 SF/Yr
      120,000 SF

      Lafayette Office Building For Lease

      Modern Office Space, 3 Suites Available
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      View Details
    • $18 SF/Yr
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    • $192 SF/Yr
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      Ambassador Towers Office Suites

      Lafayette, LA Class A Office Space
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    • $204 SF/Yr
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      Lafayette Plaza Office Space Available

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    • $16 SF/Yr
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      Lafayette Office Space: 9,100 SF Available

      Prime Lafayette office suites, various sizes. Class A building.
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      View Details
    • $2,267 /Mo
      1,600 SF

      Oil Center Office Space Available

      Office space for rent in Lafayette's Oil Center.
      413 Travis St, Lafayette, LA 70503
      View Details
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    129 Demanade Blvd
    Lafayette, LA 70503-2507
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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.

    More about this property
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