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

    1353 Surrey St Lafayette, LA 70501

    • Office Properties & Spaces
    • 15,030 SF
    • 1.24 lot acres
    For Sale
    View listing
    $975,000
    Last Sale
    Jan 05, 2021
    $650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1125023
    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

    • Ageless Healthcare / Home Health Care Service

    Property Details for 1353 Surrey St

    Year built
    1979
    Lot size
    1.24 lot acres
    Property size
    15,030 SF
    Property type
    Office Properties & Spaces
    APN
    6015606
    APU
    6015606

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $630,000
      ML approach
      $650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $947,000
      Market price range: $659k - $2.43M
      AI Estimate
      $960,000
      Market price range: $744k - $2.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -91.995
    Latitude
    30.2218
    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
    $9,048
    $6,738
    $79,685
    $86,423
    -
    $67,380
    $531,230
    $598,610

    Comparable in this City

    • Value Estimation
      $265,000
      0.23 Acres

      517 Simcoe St

      OFFICE (GENERAL) • 0.23 Acres
      517 Simcoe St, Lafayette, LA 70501-5831
      View Details
    • Value Estimation
      $260,000
      1.54 Acres

      124 Buchanan St

      OFFICE (GENERAL) • 1.54 Acres
      124 Buchanan St, Lafayette, LA 70501-5944
      View Details
    • Value Estimation
      $275,000
      912 SF

      1108 Surrey St

      OFFICE (GENERAL) • 912 SF
      1108 Surrey St, Lafayette, LA 70501-6145
      View Details
    • Value Estimation
      $280,000
      1,600 SF

      214 Willow St

      OFFICE (GENERAL) • 1,600 SF
      214 Willow St, Lafayette, LA 70501-3658
      View Details
    • Value Estimation
      $325,000
      2,030 SF

      1334 Jefferson St

      OFFICE (GENERAL) • 2,030 SF
      1334 Jefferson St, Lafayette, LA 70501-7922
      View Details
    • Value Estimation
      $295,000
      2,643 SF

      227 Jefferson St

      OFFICE (GENERAL) • 2,643 SF
      227 Jefferson St, Lafayette, LA 70501-7009
      View Details

    Similar Nearby for Sale

    • $699,000
      6,200 SF

      Lafayette Medical Office Building

      6,200 SF Medical Office for Sale
      910 Martin Luther King Jr Dr, 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
    • $799,000
      4,000 SF

      Downtown Lafayette Executive Office

      Modern, renovated office space; prime location.
      120 Clinton St, Lafayette, LA 70501
      View Details
    • $2,200,000
      11,739 SF

      Mixed-Use Building in Downtown Lafayette

      Mixed-use building with restaurant, venue, and office/retail space.
      201 Jefferson St, Lafayette, LA 70501
      View Details
    • $597,500
      3,510 SF

      Downtown Lafayette Corner Opportunity

      Three properties on a bustling corner, endless potential uses.
      712 W Congress St, Lafayette, LA 70501
      View Details
    • $128,641
      1.28 Acres

      Lafayette Commercial Land - 1.28 Acres

      Prime Lafayette commercial land, ideal for development.
      800 Teurlings Dr, Lafayette, LA 70501
      View Details

    Similar Nearby for Lease

    • $0.72 SF/Yr
      2,000 SF

      Downtown Lafayette Executive Office Space

      Modern, renovated office; 2,000 sq ft available.
      120 Clinton St, Lafayette, LA 70501
      View Details
    • $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
    • $18 SF/Yr
      47,722 SF

      Downtown Lafayette Executive Suites

      Historic charm, prime location, flexible suites.
      100 Vermilion St, Lafayette, LA 70501
      View Details
    • $18 SF/Yr

      Lafayette Office Suite - 809

      Class A Office Space, Stunning Views
      102 Versailles Blvd, Lafayette, LA 70501
      View Details
    • $216 SF/Yr
      29,557 SF

      Lafayette Office Space for Lease

      11,736 SF Office Suite Available
      102 Versailles Blvd, Lafayette, LA 70501
      View Details
    • $191 SF/Yr
      2,500 SF

      Downtown Lafayette Office Space

      2,500 SF Prime Office for Lease
      708 University 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.
    1353 Surrey St
    Lafayette, LA 70501
    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.