Condominium Office Suites
For Sale
$577,500
11822 Justice Ave., Baton Rouge, LA 70816
Seven well-maintained, 100% occupied office units with reception, private offices, kitchenette, restroom, and ample parking.
Property Size5,180 SF
Days on Market49
Property Features for 11822 Justice Ave.
General Information
Standard status
Active
Size
5,180 SF
Class
B
Property subtype
Office
Occupancy
100%
Additional Details
Office Units
7
Building Details
Building Size
5,180 SF
Listing Agency:
Saurage Rotenberg Commercial Real Estate
(225) 328-1778
Listed By:
Carmen Austin, MBA, CCIM, SIOR · License #BROK.0912122713-ASA
(225) 328-1778
Source:
Sauragerotenberg
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 12 at 4:46AM
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
Investment Insights
Based on property information with market context.
This sale package consists of seven condominium office units in a serene office park setting. The property is described as well-maintained and currently 100% occupied. Each typical suite measures approximately 740 square feet and includes a reception area, two private offices, a kitchenette, and a restroom, with vaulted ceilings.
The office park is located on Justice Ave., positioned off S. Sherwood Forest Blvd. The offering includes units identified as A-7, A-8, B-3, B-4, B-5, B-6, and B-7. The property also benefits from ample parking, and the flood zone is listed as “X.”
For tenants or owner-occupants, the layouts are “bite-sized,” offering self-contained office space that includes essential amenities such as reception, private rooms, and a restroom within each unit. For investors, the key practical consideration is that the units are already in place as condominium office spaces and are reported as fully leased, with a consistent suite build-out across the offering.
The office park is located on Justice Ave., positioned off S. Sherwood Forest Blvd. The offering includes units identified as A-7, A-8, B-3, B-4, B-5, B-6, and B-7. The property also benefits from ample parking, and the flood zone is listed as “X.”
For tenants or owner-occupants, the layouts are “bite-sized,” offering self-contained office space that includes essential amenities such as reception, private rooms, and a restroom within each unit. For investors, the key practical consideration is that the units are already in place as condominium office spaces and are reported as fully leased, with a consistent suite build-out across the offering.
Key Highlights
- 7 well‑maintained office units in the Serene Office Park condominium development
- 100% occupied with well‑located income property status
- Typical suite layout includes reception, 2 private offices, kitchenette, and restroom
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
$49,545
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
8.58%
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%
$990,900
$990.9K
Cap Rate 7%
$707,786
$707.8K
Cap Rate 9%
$550,500
$550.5K
Market Conditions
NOI Build-Up for 5,180 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
$67.8K $13.08/SF
− Vacancy
−$1.7K −$0.33/SF
EGI
$66.1K $12.75/SF
− OpEx
−$16.5K −$3.19/SF
NOI
$49.5K $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%
$990,900
Cap Rate 7%
$707,786
Cap Rate 9%
$550,500
Alternative Uses
Best Use
Office B
$707.8K
$619.3K – $825.8K
NOI $49,545 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,839 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,603
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 - Seven well-maintained, 100% occupied office units with reception, private offices, kitchenette, restroom, and ample parking.
Where is this office units located?
The property is located at 11822 Justice Ave. Baton Rouge, LA.
What is the asking price?
The asking price for this property is $577,500.
What are key features of this property?
This property features: 7 well‑maintained office units in the Serene Office Park condominium development; 100% occupied with well‑located income property status; Typical suite layout includes reception, 2 private offices, kitchenette, and restroom
