Professional Office Condo For
For Sale
$150,000
10988 Harrells Ferry Rd, Baton Rouge, LA 70816
Second-story office suite with custom features in scenic Myrtle Lake Plaza.
Property Size1,430 SF
Price / SF$104.90
Days on Market160
Property Features for 10988 Harrells Ferry Rd
General Information
Standard status
Active
Size
1,430 SF
Property subtype
General Commercial
Amenities
Central Air
3
Parking.
Lot.
Listing Agency:
Grassroots Real Estate Group
(225) 772-3283
Listed By:
David Madaffari · License #0995702768
(225) 772-3283
Source:
Xome
Added: Mar 26
Changed: Aug 27
Last Checked: Aug 31 at 3:31PM
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 Grassroots Real Estate Group
Investment Insights
Based on property information with market context.
Available for sale is a ±1,430 SF, second-story suite, most recently utilized by a law firm. The suite comprises a lobby/reception area, 4 offices, a conference room, private restroom, and kitchenette. It is designed with custom features such as millwork and brick pavers, and includes two sets of French door entrances and transom windows inside. The property is located in Myrtle Lake Plaza, a scenic office park with a pond in the rear and several outdoor seating areas. The park also includes a large, off-street parking lot. The property has ±1 minute access to Old Hammond Hwy and S Sherwood Forest Blvd, and ±2-3 minute access to and from I-12.
Key Highlights
- Excellent location with quick access to Old Hammond Hwy, S Sherwood Forest Blvd, and I‑12.
- ±1,430 SF second‑story suite ideal for professional office use.
- Features a lobby/reception area, 4 offices, conference room, private restroom, and kitchenette.
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
$13,678
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
9.12%
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%
$273,560
$273.6K
Cap Rate 7%
$195,400
$195.4K
Cap Rate 9%
$151,978
$152.0K
Market Conditions
NOI Build-Up for 1,430 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
$18.7K $13.08/SF
− Vacancy
−$468 −$0.33/SF
EGI
$18.2K $12.75/SF
− OpEx
−$4.6K −$3.19/SF
NOI
$13.7K $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%
$273,560
Cap Rate 7%
$195,400
Cap Rate 9%
$151,978
Alternative Uses
Best Use
Office B
$195.4K
$171.0K – $228.0K
NOI $13,678 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$342.5K
$299.7K – $399.6K
NOI $23,973 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
834
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
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Frequently Asked Questions
What type of property is this?
Office units - Second-story office suite with custom features in scenic Myrtle Lake Plaza.
Where is this office units located?
The property is located at 10988 Harrells Ferry Rd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Excellent location with quick access to Old Hammond Hwy, S Sherwood Forest Blvd, and I‑12.; ±1,430 SF second‑story suite ideal for professional office use.; Features a lobby/reception area, 4 offices, conference room, private restroom, and kitchenette.
