1604 University AveLafayette, LA 70506
- Hospitality properties
- 1.29 AC
Property Details for 1604 University Ave
- Year built
- 1860
- Lot size
- 1.29 AC
- Property type
- Hospitality properties
- Property subtype
- Motels
- APN
- 6066508
- APU
- 6066508
Description
This 1,524 square foot commercial property, located at 1604 W University Avenue in Lafayette, Louisiana, presents a unique opportunity for diverse business ventures. Zoned for both commercial and manufacturing uses, this adaptable space offers significant potential. The building features five generously sized rooms, ideal for offices or other uses, and includes two bathrooms, one of which is handicap accessible. High ceilings (10 feet) and attractive wood and laminate flooring enhance the interior. The property's convenient location offers easy access to downtown Lafayette, making it an attractive option for businesses seeking a central location. Additional features include a handicap-accessible ramp and ample parking in the rear of the building. The asking price for this versatile property is $162,000. The property is situated in Lafayette Parish, Louisiana, with a zip code of 70506. This property is listed as Office, Industrial, and Land. The property is suitable for a variety of uses, including professional office space.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $8,745,763
- 6.5%
- $8,073,012
- 7%
- $7,496,368
-
Comparable approach
- Method
- Valuation
- Relative Method
- $24,941,792
- Geo Method
- $39,534,808
-
Alternative Use
- Use
- Valuation
- Residential
- $8,813,383
- Hospitality
- $8,073,012
- Educational
- $6,716,651
- Medical
- $6,947,647
- Retail
- $10,448,124
Location Insight
- City
- Lafayette
- County
- Lafayette
- State
- Louisiana
- Latitude
- 30.2504
- Longitude
- -92.0343
- CBSA code
- 29180
- CBSA name
- LAFAYETTE, LA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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