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

    1402 University Ave Lafayette, LA 70506-1016

    • Sports & entertainment properties
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0979289
    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

    • Holy Spirit Amer Catholic Church / Catholic Church
    • Benoit Gallery / Art Gallery

    Property Details for 1402 University Ave

    Year built
    1860
    Lot size
    0.05 lot acres
    Property type
    Sports & entertainment properties
    APN
    6014306
    APU
    6014306

    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
    -92.0344
    Latitude
    30.2487
    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
    $516
    $500
    $4,350
    $4,850
    -
    $5,000
    $29,000
    $34,000

    Comparable in this City

    • Value Estimation by Request
      3,254 SF

      110 Hapsburg Ln

      RECREATIONAL, ENTERTAINMENT • 3,254 SF
      110 Hapsburg Ln, Lafayette, LA 70506-9202
      View Details
    • Value Estimation
      $525,000
      29,665 SF

      101 Marie Antoinette St

      RECREATIONAL, ENTERTAINMENT • 29,665 SF
      101 Marie Antoinette St, Lafayette, LA 70506-6233
      View Details
    • Value Estimation by Request
      11.94 Acres

      4131 Congress St

      RECREATIONAL, ENTERTAINMENT • 11.94 Acres
      4131 Congress St, Lafayette, LA 70506-6871
      View Details
    • Value Estimation by Request
      6,452 SF

      510 Saucier Pkwy

      RECREATIONAL, ENTERTAINMENT • 6,452 SF
      510 Saucier Pkwy, Lafayette, LA 70506
      View Details
    • Value Estimation by Request
      5.04 Acres

      902 Pandora St

      RECREATIONAL, ENTERTAINMENT • 5.04 Acres
      902 Pandora St, Lafayette, LA 70506
      View Details
    • Value Estimation by Request
      7.42 Acres

      710 Saint Patrick St

      RECREATIONAL, ENTERTAINMENT • 7.42 Acres
      710 Saint Patrick St, Lafayette, LA 70506
      View Details

    Similar Nearby for Sale

    • $245,000

      Lafayette Industrial Land - $245K

      Prime Lafayette manufacturing lot. Build to suit options available.
      1012 Foreman Dr, Lafayette, LA 70506
      View Details
    • $2,900,000
      14.36 Acres

      Lafayette Land: 14 Acres, $2.9M

      Prime Lafayette acreage, endless potential.
      2644 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $146,300
      1.54 Acres

      Lafayette Land For Sale

      Commercial land available in excellent location with quick access.
      900 Guilbeau Rd, Lafayette, LA 70506
      View Details
    • $3,125,000
      8.92 Acres

      Lafayette Land in Retail Area

      Nearly 9 acres in the heart of shopping and retail.
      2700 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $1,690,128

      Commercial Land on Rue Du Belier

      9.7 acres of prime commercial land in Lafayette, Louisiana.
      1200 Blk Rue Du Belier, Lafayette, LA 70506
      View Details
    • $155,000
      6.50 Acres

      Unzoned Land in South Lafayette

      Unrestricted acreage convenient to shopping, restaurants, hospitals, and schools.
      200 Hapsburg Ln, Lafayette, LA 70506
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo
      9,029 SF

      Gymnasium Space with I-10 Access

      Climate-controlled industrial space with gymnasium setup and I-10 access.
      302 Toledo Dr, Lafayette, LA 70506
      View Details
    • $6,500 /Mo
      9,029 SF

      Lafayette Industrial/Gym Space Available

      Climate-controlled industrial space with potential, currently set up as a gymnasium.
      302 Toledo Dr, Lafayette, LA 70506
      View Details
    • $10 SF/Yr

      Retail/Athletic Space in High-Traffic Area

      Adaptable retail or athletic space in a high-traffic location.
      803 W University Ave, Lafayette, LA 70506
      View Details
    • $216 SF/Yr
      1,500 SF

      Ambassador Caffery Retail Space

      1,500 SF Retail Space, Lafayette, LA
      1529 Ambassador Caffery Pkwy, Lafayette, LA 70506
      View Details
    • $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
    • $15 SF/Yr
      2,086 SF

      Retail Space on Ambassador Caffery

      Retail space available on Ambassador Caffery Parkway in Lafayette.
      3263 Ambassador Cafferey Pkwy, 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.
    1402 University Ave
    Lafayette, LA 70506-1016
    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.