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1201 S Purpera Ave Suites 601 & 602, Gonzales, LA 70737
Well-maintained 2,300 SF office building in professional office park.
Property Size2,300 SF
Price / SF$199.48
Days on Market295
Property Features for 1201 S Purpera Ave Suites 601 & 602
General Information
Standard status
Active
Size
2,300 SF
Class
B
Property subtype
Office
Zoning
C-1
Occupancy
50%
Lease Type
Modified
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Elifin Realty Baton Rouge
(225) 938-3148
Listed By:
Lindsay Redhead · License #LA 0995702768
Source:
Crexi
Added: Oct 20, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:35AM
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 Elifin Realty Baton Rouge
Investment Insights
Based on property information with market context.
The property at 1201 S Purpera Ave features a well-maintained garden office building with approximately 2,300 square feet, divided into two suites of approximately 1,240 square feet each. One suite is currently occupied. The property is located within a professional office park, creating a suitable environment for professionals. Situated approximately one minute from Airline Hwy and E Worthey Rd, the location provides convenient access to major retailers such as Walmart, Rouses, Marshalls, and Ross, as well as community institutions including East Ascension High School, the Ascension Parish Library, and the Ascension Parish Government. The property is zoned C-1 and is suitable for commercial real estate use. The lease type is modified gross, where the tenant is responsible for rent, electricity, Wi-Fi, and interior janitorial services. The property is available for both sale and lease, making it ideal for an owner-occupant or investor.
Key Highlights
- ±2,300 SF office building divided into two ±1,240 SF suites.
- Located in a professional office park.
- Immediate income potential** with one suite currently occupied.
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
$24,219
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
5.28%
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%
$484,380
$484.4K
Cap Rate 7%
$345,986
$346.0K
Cap Rate 9%
$269,100
$269.1K
Market Conditions
NOI Build-Up for 2,300 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
$41.4K $18.00/SF
− Vacancy
−$9.1K −$3.96/SF
EGI
$32.3K $14.04/SF
− OpEx
−$8.1K −$3.51/SF
NOI
$24.2K $10.53/SF
Area
Ascension County, LA
Vacancy
22.00%
Lease Rate
$18.00 /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%
$484,380
Cap Rate 7%
$345,986
Cap Rate 9%
$269,100
Alternative Uses
Best Use
Office B
$346.0K
$302.7K – $403.7K
NOI $24,219 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$504.7K
$441.6K – $588.8K
NOI $35,328 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 70737, LA
47,332
Population
20,720
Households
2.3
Avg Household Size
36
Median Age
26%
College-Educated
86%
High-School Grad
54.0 sq mi
ZIP Area
877
Density / Sq Mi
$80,758
Median Household Income
$51,444
Median Earnings
$1,533
Median Rent
$252,600
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 building - Well-maintained 2,300 SF office building in professional office park.
Where is this office building located?
The property is located at 1201 S Purpera Ave Suites 601 & 602 Gonzales, LA.
What is the asking price?
The asking price for this property is $458,800.
What are key features of this property?
This property features: ±2,300 SF office building divided into two ±1,240 SF suites.; Located in a professional office park.; Immediate income potential** with one suite currently occupied.
