1604 University AveLafayette, LA 70506

  • Hospitality properties
  • 1.29 AC
For Sale
$162,000 View listing

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
1604 University Ave, Lafayette, Louisiana

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

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
$5,687
$14,069
$40,215
$54,284
-
$140,690
$268,100
$408,790

FAQs

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