4000 Johnston St Lafayette, LA 70503-3812

Property Details for 4000 Johnston St

Year built

1975

Lot size

0.51 lot acres

Property size

4,769 SF

Property type

Commercial real estate

APN

6038496

APU

6038496

Description

This prime commercial property, located at 4000 Johnston Street in Lafayette, Louisiana, presents a unique investment opportunity. The 5,200 square foot, single-story building sits on a 0.52-acre lot and features two equal-sized suites, currently at 50% occupancy. One suite is vacant, offering immediate potential for rental income or owner-user occupancy. The other suite is occupied on a month-to-month lease. The building boasts robust construction, a combination of pier and beam and concrete slab foundations, and ample parking. The property includes over 5,700 square feet of paved asphalt parking with 16 designated spaces, plus an additional 9,600 square feet of limestone surfaced area ideal for storage or overflow parking. Recent improvements totaling $61,500 over the past 36 months include new HVAC units, freshly paved parking lots, and new landscaping. Further enhancing the investment potential is a Lamar billboard lease generating $3,200 in annual income. The property is zoned Commercial Heavy and underwent renovations in 2021. This versatile space is perfect for a variety of retail uses, including restaurants and storefronts, making it an attractive option for both investors and owner-users. The property's high-visibility location on a major city artery ensures high traffic flow and excellent exposure. The asking price is $750,000, translating to $144.23 per square foot. Full occupancy is projected by August 14, 2024.