New Construction Garden Office
For Sale
$2,143,100
10239 Jefferson Hwy, Baton Rouge, LA 70809
Flexible office configuration supports suites ranging from smaller individual spaces to the full building footprint.
Property Size6,822 SF
Price / SF$290
Days on Market748
Property Features for 10239 Jefferson Hwy
General Information
Standard status
Active
Size
6,822 SF
Property subtype
Office
Zoning
GOL
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Power
Building Details
Year Built
2017
Buildings
1
Building Size
6,822 SF
Construction
garden office
Listing Agency:
Stirling Covington/Corporate
(985) 898-2022
Listed By:
W. Murphy
(985) 898-2022
Source:
Lacdb.resimplifi
Added: Aug 16, 2024
Changed: Aug 31
Last Checked: Sep 1 at 3:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stirling Covington/Corporate
Investment Insights
Based on property information with market context.
The Metro, Building 3 is a 6,822-square-foot garden office property completed in 2023. The building can accommodate office requirements from 1,408 square feet through the entire 6,822-square-foot structure, providing a range of suite configurations within a newly constructed setting. The property is zoned GOL.
Located at 10239 Jefferson Hwy. in Baton Rouge, the building sits between Bluebonnet Boulevard and Airline Highway. Access is available to I-10, I-12, Airline Highway, Bluebonnet Boulevard, and Siegen Lane, connecting the property with several established transportation corridors.
Located at 10239 Jefferson Hwy. in Baton Rouge, the building sits between Bluebonnet Boulevard and Airline Highway. Access is available to I-10, I-12, Airline Highway, Bluebonnet Boulevard, and Siegen Lane, connecting the property with several established transportation corridors.
Key Highlights
- 6,822 SF garden office building completed in 2023
- Suite configurations range from 1,408 SF to 6,822 SF
- Zoned GOL
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,684
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,413,680
$1.4M
Cap Rate 7%
$1,009,771
$1.0M
Cap Rate 9%
$785,378
$785.4K
Market Conditions
NOI Build-Up for 7,390 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.7K $13.08/SF
− Vacancy
−$2.4K −$0.33/SF
EGI
$94.2K $12.75/SF
− OpEx
−$23.6K −$3.19/SF
NOI
$70.7K $9.56/SF
Area
Baton Rouge, LA
Vacancy
2.50%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,413,680
Cap Rate 7%
$1,009,771
Cap Rate 9%
$785,378
Alternative Uses
Best Use
Office B
$1.01M
$883.6K – $1.18M
NOI $70,684 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.06M
NOI $123,889 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 70809, LA
25,302
Population
13,872
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
97%
High-School Grad
14.4 sq mi
ZIP Area
1,757
Density / Sq Mi
$81,310
Median Household Income
$55,827
Median Earnings
$1,336
Median Rent
$305,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office configuration supports suites ranging from smaller individual spaces to the full building footprint.
Where is this office building located?
The property is located at 10239 Jefferson Hwy Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,143,100.
What are key features of this property?
This property features: 6,822 SF garden office building completed in 2023; Suite configurations range from 1,408 SF to 6,822 SF; Zoned GOL
