Renovated Office in Park-Like
For Sale
$650,000
10621 North Oak Hills Parkway, Baton Rouge, LA 70810
Recently renovated office building for sale in a serene setting.
Property Size3,005 SF
Price / SF$216.31
Days on Market789
Property Features for 10621 North Oak Hills Parkway
General Information
Standard status
Active
Size
3,005 SF
Property subtype
Office
Zoning
C
Building Details
Year Built
1990
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
Listed By:
Michael Stinson
(225) 907-7793
Source:
Lacdb.resimplifi
Added: Aug 23, 2024
Changed: Oct 1
Last Checked: Oct 19 at 3:12AM
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 Saurage Rotenberg Commercial Real Estate, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This recently renovated office building is available for sale. It is situated in a quiet, serene, park-like setting off Bluebonnet Blvd. The current tenant is a national engineering and consulting firm. A three-year primary term was recently executed, including one three-year option period with annual 2% increases. The property size is 3,005 square feet.
Key Highlights
- Tenant is a national engineering/consulting firm.
- Recently executed 3 yr. primary term with one 3 yr. option period with annual 2% increases.
- Recently Renovated Office.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,742
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,840
$574.8K
Cap Rate 7%
$410,600
$410.6K
Cap Rate 9%
$319,356
$319.4K
Market Conditions
NOI Build-Up for 3,005 SF
Gross rent
$39.3K $13.08/SF
− Vacancy
−$983 −$0.33/SF
EGI
$38.3K $12.75/SF
− OpEx
−$9.6K −$3.19/SF
NOI
$28.7K $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 Rate 5%
$574,840
Cap Rate 7%
$410,600
Cap Rate 9%
$319,356
Alternative Uses
Best Use
Office B
$410.6K
$359.3K – $479.0K
NOI $28,742 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$719.7K
$629.7K – $839.6K
NOI $50,377 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 70810, LA
42,472
Population
19,195
Households
2.2
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
26.2 sq mi
ZIP Area
1,621
Density / Sq Mi
$93,712
Median Household Income
$52,510
Median Earnings
$1,406
Median Rent
$353,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office building for sale in a serene setting.
Where is this office building located?
The property is located at 10621 North Oak Hills Parkway Baton Rouge, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Tenant is a national engineering/consulting firm.; Recently executed 3 yr. primary term with one 3 yr. option period with annual 2% increases.; Recently Renovated Office.**
