436 E VERMILION ST Lafayette LA 70501-8063

Vermilion Lofts is a 26-unit mixed-use property located in downtown Lafayette. The asset sits at a significant gateway point into the downtown district and the national historic district of Freetown. Built in 2020, Vermilion Lofts offers investors a unique opportunity to acquire Class A residential units along with 3,313 SF of retail/office space. The 24-unit complex contains an appealing mix of Studios, 1 Bedrooms, and 2 Bedrooms. The duplex is adjacent to Vermilion Lofts and has 2 Bedroom/2 Bath units. With its close proximity to downtown, Vermilion Lofts provides tenants easy access to all of the greatest retail, restaurant, and nightlife destinations that Lafayette has to offer.

The properties are currently receiving an average of $1,206/month for the residential units. The retail/office space is located on the ground floor of the building and is currently being leased at $22-26/SF. The commercial space is 100% leased. Investors have a potential value-add opportunity with the first-floor space by converting to true NNN leases during the course of ownership which could recoup about $14k/year in recoverable expenses.