Millerville Road Commercial
For Sale
$1,800,000
2875 Millerville Rd, Baton Rouge, LA 70816
Versatile commercial property with warehouse, office, showroom, and fenced yard.
Property Size7,500 SF
Price / SF$240
Days on Market263
Property Features for 2875 Millerville Rd
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Industrial
Building Details
Building Size
7,500 SF
Listing Agency:
NAI Rampart Commercial Real Estate Baton Rouge
(501) 416-4538
Listed By:
Blake Howard
(501) 416-4538
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 9
Last Checked: Aug 11 at 6:13AM
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 NAI Rampart Commercial Real Estate Baton Rouge
Investment Insights
Based on property information with market context.
Located on Millerville Road in Baton Rouge, less than a quarter mile south of Interstate 12, this property offers excellent access and visibility. The site features a 7,200 SF building that includes warehouse space, office areas, and a showroom, offering versatile functionality for a range of industrial and commercial uses. Situated on approximately 2 acres, the property also includes a 53,000 SF fenced and stabilized yard, ideal for outdoor storage, fleet parking, or equipment staging. The property is currently leased to Golf Carts of Louisiana, a well-established tenant with 5 years remaining on the lease, providing stable income for investors.
Key Highlights
- Strategic location on Millerville Road, less than a quarter mile south of Interstate 12, offering excellent access and visibility.
- Currently leased to Golf Carts of Louisiana with 5 years remaining on the lease, providing stable income.
- Features a 7,200 SF building with warehouse, office, and showroom space.
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
$117,351
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
6.52%
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%
$2,347,020
$2.3M
Cap Rate 7%
$1,676,443
$1.7M
Cap Rate 9%
$1,303,900
$1.3M
Market Conditions
NOI Build-Up for 7,500 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
$168.3K $22.44/SF
− Vacancy
−$656 −$0.09/SF
EGI
$167.6K $22.35/SF
− OpEx
−$50.3K −$6.71/SF
NOI
$117.4K $15.65/SF
Area
Baton Rouge, LA
Vacancy
0.39%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
30.00%
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%
$2,347,020
Cap Rate 7%
$1,676,443
Cap Rate 9%
$1,303,900
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,351 @ 7.0% cap · market cap 6.52%
Second Best
Warehouse
$867.6K
$759.2K – $1.01M
NOI $60,732 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.10M
NOI $125,733 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Versatile commercial property with warehouse, office, showroom, and fenced yard.
Where is this warehouse located?
The property is located at 2875 Millerville Rd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Strategic location on Millerville Road, less than a quarter mile south of Interstate 12, offering **excellent access and visibility**.; Currently leased to Golf Carts of Louisiana with 5 years remaining on the lease, providing **stable income**.; Features a **7,200 SF building** with warehouse, office, and showroom space.
