129 Demanade BlvdLafayette, LA 70503

Property Details for 129 Demanade Blvd

Year built

1970

Lot size

0.47 AC

Property size (Sq ft)

6,919 SF

Property type

Office properties

APN

6091249

APU

6091249

Description

This exceptional 6,861-square-foot office building in Lafayette, Louisiana's prestigious Oil Center, presents a unique investment opportunity. Situated on a 0.47-acre lot at 129 Demanade Boulevard, 70503, this single-tenant property boasts a striking stucco facade and floor-to-ceiling windows, maximizing natural light and offering stunning courtyard views. The building's interior features 23 individual offices, several spacious executive suites, a well-equipped conference room, a kitchen, a copy room, and an IT room. Its prime location provides easy access to Girard Park, downtown Lafayette, and major thoroughfares, ensuring convenient commutes for employees. The Oil Center's vibrant atmosphere offers a wealth of amenities, including upscale restaurants, the Petroleum Club, shops, banks, medical facilities (including Ochsner Hospital), and various entertainment options. Furthermore, the property benefits from its proximity to significant medical expenditure areas, making it highly suitable for medical office use. An attached Oil Center Redevelopment Plan highlights the property's considerable future growth potential. This is a truly remarkable property, ideal for a discerning buyer seeking a high-quality, well-located office space in a thriving business district. The building's versatile layout and prime location make it suitable for a variety of uses, including traditional office, executive office, and medical office spaces.

• CAP approach

  CAP return

  Valuation

  6%

  $948,063

  6.5%

  $875,135

  7%

  $812,626

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,306,859

  Geo Method

  $2,071,479

• Alternative Use

  Use

  Valuation

  Residential

  $1,085,168

  Hospitality

  $994,008

  Educational

  $827,003

  Medical

  $855,445

  Retail

  $1,286,449

Location Insight

City

Lafayette

County

Lafayette

State

Louisiana

Latitude

30.2033

Longitude

-92.0126

CBSA code

29180

CBSA name

LAFAYETTE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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