Back to Listings
Lafayette, LA

Stella Industries

Address:
406 Beau Pre Road, Lafayette, LA, 70507
Property Type:
Single Tenant
Price:
$1,905,000
Cap Rate:
8.50% cap
NOI:
$162,000
Square Feet:
14,240 sqft
Lot Size:
5.67 acres
Price Per Square Foot:
$133.78
Year Built:
2014
Links
* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

• Property is Conveniently Located on Beau Pre Road with Close Access to Highway 90 East
• Over the Past Five Years, the Submarket has Posted Net Absorption of about 58,000-Square-Feet Per Year on Average
• Rents Grew by 4.0% Over the Past 12 Months, Easily Exceeding the 2.5% Average Annual Change Over the Past Decade
• Newer Build Completed in 2014 No Deferred Maintenance
• Real Estate has 5.67 Acres of Extra Space Providing Opportunity for Future Tenants or Occupiers with Outside Storage
• Built-to-Suit for Tenant in 2014, Long Term Historical Occupancy

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 406 Beau Pre Road in Lafayette, Louisiana leased to Stella Industries. The subject property consists of approximately 14,240 square feet of space and is situated on 5.67 acres of land. The asset is a newer built-to-suit property completed in 2014 for the tenant who has long-term historical occupancy. With no deferred maintenance, the real estate has 5.67 acres of extra space providing opportunity for future tenants or occupiers with outside storage. Over the past five years, the Greater Lafayette Submarket has posted net absorption of about 58,000 square feet per year, on average. Rents grew by four percent over the past 12 months, easily exceeding the 2.5 percent average annual change over the past decade. The property is conveniently located on Beau Pre Road, with close access to Highway 90 East.

The 7.8 million square feet of industrial space in Greater Lafayette represents more than a third of the Lafayette market’s total industrial inventory. There are no supply-side pressures on vacancy or rent in the near-term, as nothing is underway. Though the pipeline is empty, the submarket has seen recent development. Roughly 18,000 square feet has delivered over the past three years, representing a modest inventory expansion of 0.2 percent. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years. (CoStar)

Lafayette is a city in and the parish seat of Lafayette Parish, Louisiana, located along the Vermilion River in the southwestern part of the state. The city of Lafayette is the fourth-largest in the state, with a population of 126,185 according to 2019 U.S. Census estimates. It is the principal city of the Lafayette metropolitan statistical area, with a 2015 estimated population of 490,488. The larger trade area or combined statistical area of Lafayette-Opelousas-Morgan City CSA was 627,146 in 2015. Its nickname is “The Hub City.”

BROKER OF RECORD
CHRIS SHAHEEN
Louisiana Broker of Record
10527 Kentshire Court, Suite B
Baton Rouge, LA 70810
Tel: 972.755.5223
Chris.Shaheen@marcusmillichap.com
License: LA: BROK.0995692662-ACT
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0370800)