Add Listing
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

    516 Verot School Rd, Unit B Lafayette, LA 70508

    • Office properties & Spaces
    • 5,208 SF
    • 0.76 lot acres
    For Lease
    View listing
    Last Sale
    Dec 21, 2021
    $503,600
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1170450
    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

    • Neurological Associates: Goldware Stephen I MD / Physician / Medical Clinic
    • Neurological Associates: Bertuccini Thomas V MD / Physician / Medical Clinic
    • Neurological Associates: De Araujo Luiz C MD / Physician / Medical Clinic
    • Goldware Stephen MD /NEUROSURGICAL OPINIONS / Physician
    • Tree of Life Counseling and Consulting, LLC / Counselor / Mental Health Service

    Property Details for 516 Verot School Rd

    Year built
    1981
    Lot size
    0.76 lot acres
    Property size
    5,208 SF
    Property type
    Office properties & Spaces
    APN
    6025099
    APU
    6025099

    Description

    This exceptional commercial property, located at 516 Verot School Road in Lafayette, Louisiana, presents a unique investment opportunity. The property consists of two single-story buildings totaling 5,200 square feet on a 5,200 square foot lot. Recently renovated, the space boasts modern amenities including a reception area, boardroom, multiple private offices, two private bathrooms, and a break room. New flooring, paint, and ceilings enhance the professional atmosphere. The Class B office space is ideally suited for a variety of businesses seeking a convenient and highly visible location on Verot School Road. Ample parking is available. The asking price is $1,200,000, translating to $230.77 per square foot. This property offers a blend of modern updates and a prime Lafayette location, making it an attractive option for businesses seeking to establish or expand their presence in the area. The property's versatility allows for customization to meet diverse business needs. Don't miss this chance to secure a well-maintained, conveniently located office space in a thriving market.

    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
    -92.0109
    Latitude
    30.1739
    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
    $6,297
    $13,242
    $46,872
    $60,114
    -
    $132,420
    $312,480
    $444,900

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      1720 Kaliste Saloom Rd Ste D4

      OFFICE (GENERAL) • 1.00 Acre
      1720 Kaliste Saloom Rd Ste D4, Lafayette, LA 70508-6141
      View Details
    • Value Estimation by Request
      1.11 Acres

      200 La Rue France

      OFFICE (GENERAL) • 1.11 Acres
      200 La Rue France, Lafayette, LA 70508-3104
      View Details
    • Value Estimation by Request
      0.57 Acres

      160 Industrial Pkwy

      OFFICE (GENERAL) • 0.57 Acres
      160 Industrial Pkwy, Lafayette, LA 70508-8309
      View Details
    • Value Estimation by Request
      0.05 Acres

      504 Richland Ave

      OFFICE (GENERAL) • 0.05 Acres
      504 Richland Ave, Lafayette, LA 70508-6615
      View Details
    • Value Estimation by Request
      1,025 SF

      714 Kaliste Saloom Rd Ste C4

      OFFICE (GENERAL) • 1,025 SF
      714 Kaliste Saloom Rd Ste C4, Lafayette, LA 70508-2530
      View Details
    • Value Estimation by Request
      1,000 SF

      237 La Rue France

      OFFICE (GENERAL) • 1,000 SF
      237 La Rue France, Lafayette, LA 70508-3103
      View Details

    Similar Nearby for Sale

    • $699,000
      4,200 SF

      Mixed-Use Building in Lafayette, LA

      Mixed-use building with income potential in a high-visibility location.
      2807 Kaliste Saloom Rd, Lafayette, LA 70508
      View Details
    • $670,388

      Prime Acre on Verot School

      One acre hard corner lot suitable for various commercial uses.
      2221 Verot School Rd, Lafayette, LA 70508
      View Details
    • $195,000
      3,760 SF

      Lafayette Commercial Property For Sale

      Office and warehouse space with fenced yard in Lafayette, LA.
      303 Macon Rd, Lafayette, LA 70508
      View Details
    • $750,000

      Garden-Style Office Building For Sale

      Four-unit office building with suites, ideal for owner-occupant.
      1003 Hugh Wallis Rd S, Lafayette, LA 70508
      View Details
    • Contact for pricing
      1,100 SF

      Lafayette Office Condo For Sale

      Ground-level office condo near Lafayette Airport, tenant in place 20+ years.
      1101 Hugh Wallis Rd S, Lafayette, LA 70508
      View Details
    • Contact for pricing

      Camellia Blvd Office Suites

      Office suites for lease or purchase on Camellia Blvd.
      1600 Camellia Blvd, Lafayette, LA 70508
      View Details

    Similar Nearby for Lease

    • $1,050 /Mo

      Mixed-Use Facility in Growing Lafayette

      Mixed-use property with retail and office/residential potential for rent.
      2801 Kaliste Saloom Rd, Lafayette, LA 70508
      View Details
    • Contact for pricing

      Lafayette Mixed-Use Development Opportunity

      Retail, restaurant, and office spaces for lease or purchase.
      301 Starling Ln, Lafayette, LA 70508
      View Details
    • $17 SF/Yr
      94,525 SF

      Lafayette Office Tower For Lease

      Prestigious Lafayette office space, flexible suites.
      2014 Pinhook Rd, Lafayette, LA 70508
      View Details
    • Contact for pricing
      1,645 SF

      Executive Office Suites For Lease

      Executive office suites for lease in a prime location.
      100 Asma Blvd, Lafayette, LA 70508
      View Details
    • Contact for pricing
      54,000 SF

      Lafayette Industrial Facility For Lease

      54,000 SF industrial facility in Lafayette's industrial corridor.
      109 Commission Blvd, Lafayette, LA 70508
      View Details
    • Contact for pricing
      2,237 SF

      Office Space in Parc Lafayette

      Premier office space in a prestigious Lafayette development for lease.
      1921 Kaliste Saloom Rd, Lafayette, LA 70508
      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.
    516 Verot School Rd, Unit B
    Lafayette, LA 70508
    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.
    Sign Up Successful!
    You now have access to more from Realmo!