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

    143 Martin Luther King Jr Dr Lafayette, LA 70501

    • Commercial real estate
    • 7,020 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1154157
    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 143 Martin Luther King Jr Dr

    Year built
    1980
    Lot size
    0.84 lot acres
    Property size
    7,020 SF
    Property type
    Commercial real estate
    APN
    6068886

    Description

    This exceptional multifamily investment opportunity presents a 12-unit apartment complex ideally situated in Lafayette, Louisiana, at 143 Martin Luther King Jr Dr, zip code 70501. The property boasts a total of 7,020 square feet across two, two-story buildings situated on a 0.84-acre lot (36,590 square feet). Built in 1980, the complex comprises six one-bedroom and six two-bedroom apartments, generating monthly rental income ranging from $525 to $675. Adding to the income stream is a separate 1-bedroom, 1-bathroom house renting for $350 per month, and a 600-square-foot warehouse providing valuable storage space for maintenance and lawn equipment. Ample parking is available with 20 spaces. The asking price is $560,000, translating to $46,667 per unit and $79.77 per square foot. This property's location near I-10 ensures high occupancy rates within a sought-after rental market. The property's APN is 6068886. This is a strong investment opportunity with significant potential for future growth and return.

    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 Parish
    State
    Louisiana
    Longitude
    -92.0317819
    Latitude
    30.251149

    Comparable in this City

    • $178,500

      Multi-Unit Investment Opportunity

      Real estate package with residential and commercial properties for sale.
      Racine Dr, Lafayette, LA 70501
      View Details
    • $420,000
      5,300 SF

      Downtown Lafayette 6-Unit Multifamily

      Prime location, strong rental income potential.
      406 Voorhies St, Lafayette, LA 70501
      View Details
    • $5,500,000
      20,940 SF

      Downtown Lafayette Mixed-Use Lofts

      26-unit mixed-use property with retail/office space in Downtown Lafayette.
      436 E Vermilion St, Lafayette, LA 70501
      View Details
    • $169,500
      1,985 SF

      Lafayette Investment Package Homes

      Two-house investment package in Lafayette with immediate cash flow.
      1108 Louisiana Ave, Lafayette, LA 70501
      View Details
    • $210,000
      2,122 SF

      Downtown Lafayette Versatile Commercial Property

      Steps from downtown, ideal for business, investment, or short-term rental.
      108 W 7Th St, Lafayette, LA 70501
      View Details
    • $180,000
      1,806 SF

      Lafayette Income-Producing Duplex For Sale

      Income-producing duplex with two-bedroom units, currently 100% occupied.
      218 Frank St, Lafayette, LA 70501
      View Details

    Similar Nearby for Sale

    • $178,500

      Multi-Unit Investment Opportunity

      Real estate package with residential and commercial properties for sale.
      Racine Dr, Lafayette, LA 70501
      View Details
    • $420,000
      5,300 SF

      Downtown Lafayette 6-Unit Multifamily

      Prime location, strong rental income potential.
      406 Voorhies St, Lafayette, LA 70501
      View Details
    • $5,500,000
      20,940 SF

      Downtown Lafayette Mixed-Use Lofts

      26-unit mixed-use property with retail/office space in Downtown Lafayette.
      436 E Vermilion St, Lafayette, LA 70501
      View Details
    • $169,500
      1,985 SF

      Lafayette Investment Package Homes

      Two-house investment package in Lafayette with immediate cash flow.
      1108 Louisiana Ave, Lafayette, LA 70501
      View Details
    • $210,000
      2,122 SF

      Downtown Lafayette Versatile Commercial Property

      Steps from downtown, ideal for business, investment, or short-term rental.
      108 W 7Th St, Lafayette, LA 70501
      View Details
    • $180,000
      1,806 SF

      Lafayette Income-Producing Duplex For Sale

      Income-producing duplex with two-bedroom units, currently 100% occupied.
      218 Frank St, 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
    • $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
    • $3,000 /Mo
      965 SF

      Retail Space in Lafayette, LA

      965 sqft retail shop with window front exposure on Jefferson.
      425 Jefferson St, Lafayette, LA 70501
      View Details
    • $550 /Mo
      737 SF

      Downtown Lafayette Office Space Available

      737 SF office space in downtown Lafayette for rent.
      905 Jefferson St, Lafayette, LA 70501
      View Details
    • $15 SF/Yr
      10,240 SF

      Retail Space on Pinhook Road

      Retail property available for lease on West Pinhook Road.
      1897 W Pinhook Rd, Lafayette, LA 70501
      View Details
    • $3,000 /Mo
      1,800 SF

      Downtown Lafayette Office Space Available

      1800 SF office space in the heart of Lafayette.
      627 Jefferson St, 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.
    143 Martin Luther King Jr Dr
    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.