Office Condominium
For Sale
$1,100,000
10604 Coursey Blvd, Baton Rouge, LA 70816
C2-zoned office condominium with established occupancy and professional construction.
Property Size5,700 SF
Price / SF$192.98
Days on Market182
Property Features for 10604 Coursey Blvd
General Information
Standard status
Active
Size
5,700 SF
Class
Class A
Property subtype
Office
Zoning
C2
Building Details
Year Built
2006
Tenancy
Single Tenant
Listing Agency:
Century 21 Investment Realty
(225) 291-2121
Listed By:
Travis Thornton · License #0995697813
(225) 291-2121
Source:
Lacdb.resimplifi
Added: Mar 1
Changed: Aug 29
Last Checked: Aug 29 at 8:06PM
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 Century 21 Investment Realty
Investment Insights
Based on property information with market context.
This office condominium contains approximately 5,700 SF within a professional office setting constructed in 2006. The property is occupied by an established corporate tenant that has remained in place since 2016, providing an existing tenancy structure for the new owner.
The current lease runs through March 15, 2028. Located at 10604 Coursey Blvd, Baton Rouge, LA 70816, the property offers a straightforward office ownership profile with an existing tenant and defined lease term.
The current lease runs through March 15, 2028. Located at 10604 Coursey Blvd, Baton Rouge, LA 70816, the property offers a straightforward office ownership profile with an existing tenant and defined lease term.
Key Highlights
- 5,700 SF office condominium
- Constructed in 2006
- Corporate tenant in place since 2016
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
$54,519
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
4.96%
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%
$1,090,380
$1.1M
Cap Rate 7%
$778,843
$778.8K
Cap Rate 9%
$605,767
$605.8K
Market Conditions
NOI Build-Up for 5,700 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
$74.6K $13.08/SF
− Vacancy
−$1.9K −$0.33/SF
EGI
$72.7K $12.75/SF
− OpEx
−$18.2K −$3.19/SF
NOI
$54.5K $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%
$1,090,380
Cap Rate 7%
$778,843
Cap Rate 9%
$605,767
Alternative Uses
Best Use
Office B
$778.8K
$681.5K – $908.7K
NOI $54,519 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,557 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 70816, LA
45,232
Population
21,024
Households
2.2
Avg Household Size
34
Median Age
36%
College-Educated
94%
High-School Grad
16.3 sq mi
ZIP Area
2,775
Density / Sq Mi
$65,894
Median Household Income
$39,344
Median Earnings
$1,155
Median Rent
$232,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C2-zoned office condominium with established occupancy and professional construction.
Where is this office units located?
The property is located at 10604 Coursey Blvd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,700 SF office condominium; Constructed in 2006; Corporate tenant in place since 2016
