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    2401 Louisiana Ave Lafayette, LA 70501

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    2401 Louisiana Ave Lafayette, LA 70501

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    • Commercial land
    For Sale
    $445,000
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    High Visibility Corner Lot For Sale
    $445,000

    High Visibility Corner Lot

    Centrally located corner lot with development possibilities and easy access.

    2401 Louisiana Ave, Lafayette, LA 70501
    View Listing
    Property ID
    US36-1239210
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2401 Louisiana Ave

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    High visibility hard corner centrally located in upper Lafayette. Easy access to I-10 and Hwy 90 (I-49)this corner has many of development possibilities. Currently zoned MN-1 and situated in the Louisiana Ave. Overlay district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.000255
    Latitude
    30.246926

    Comparable in this City

    • Contact for pricing

      Premier Site Along I-10

      Premier site with great visibility along Interstate 10.
      Interstate 10 & Louisiana Ave, Lafayette, LA 70501
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    • $399,000
      0.69 Acres

      Commercial Land in Lafayette, LA

      Commercial land available for sale in Lafayette, Louisiana.
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      Lafayette Commercial Land For Sale

      0.34 acre commercial land in Lafayette, Louisiana.
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    • $350,000
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      Lafayette Commercial Land For Sale

      5.97 acres of commercial land with multiple potential uses.
      2800 Louisiana Ave, Lafayette, LA 70501
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    • $300,000
      5.97 Acres

      Lafayette Commercial Land For Sale

      Commercial land with multiple potential uses in Lafayette, Louisiana.
      2800 Louisiana Ave, Lafayette, LA 70501
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      Commercial Acreage Near Downtown Lafayette

      Vacant commercial lot in high-traffic area with multiple access points.
      120 Se Evangeline Trwy, Lafayette, LA 70501
      View Details

    Similar Nearby for Sale

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      33,044 SF

      Lafayette Redevelopment Opportunity

      Commercial land for redevelopment in a high-traffic location.
      100 Castille Ave, Lafayette, LA 70501
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      Corner Lot Ideal for Development

      Corner lot suitable for commercial development in Lafayette, Louisiana.
      800 Teurlings Dr, Lafayette, LA 70501
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    • $250,000

      Commercial Land Ready For Development

      Prime commercial property near major highways, ready for development.
      2500 Louisiana Ave, Lafayette, LA 70501
      View Details
    • Contact for pricing

      Commercial Land on Ridge Road

      1.179 acre commercial land with mixed-use zoning.
      700 Blk Blk, Lafayette, LA 70501
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    • $49,000
      0.46 Acres

      Lafayette Commercial Land For Sale

      0.457 acre commercial land near North University.
      120 Philomine St, Lafayette, LA 70501
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    • $60,000
      0.18 Acres

      Commercial Lot with Highway Access

      Hard corner lot with high visibility and easy highway access.
      1115 SW Evangeline Thruway, Lafayette, LA 70501
      View Details

    Similar Nearby for Lease

    • $120,000

      Land Near Interstate 10

      Prime commercial land with high visibility near Interstate 10.
      3200 Louisiana Ave, Lafayette, LA 70501
      View Details
    • Contact for pricing

      Former Walmart Super Center Space

      100,000 SF space for lease or purchase.
      1229 NW Evangeline Thruway, Lafayette, LA 70501
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    • $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
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      Downtown Lafayette Renovated Office Space

      Renovated 2,500 SF office space in downtown Lafayette.
      708 W University Ave, Lafayette, LA 70501
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      Retail Space on Pinhook Road

      Retail property available for lease on West Pinhook Road.
      1897 W Pinhook Rd, Lafayette, LA 70501
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      2,422 SF

      Downtown Lafayette Commercial Space Available

      First floor office/retail space with great visibility on Main Street.
      119 E Main St, Lafayette, LA 70501
      View Details
    View Listing
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    Lafayette, LA 70501
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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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