Listing Agency: Stirling Covington/Corporate

Listed By: W. Murphy Show Phone

Source: Lacdb.resimplifi

Added: Feb 2, 2025 Changed: Oct 14 Last Checked: Oct 19 at 3:29AM

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Investment Insights

Based on property information with market context.

The property at 10242 Patriot Drive features seven warehouse units available for lease. These units are suitable for storing equipment, materials, supplies, boats, ATVs, and trailers away from homes or offices. Each unit is wired for electricity and stubbed out for plumbing, allowing tenants to install a bathroom if desired. The property is classified as a commercial real estate offering, encompassing warehouses and industrial properties. The total property size is 8990 square feet.

Key Highlights

• Seven warehouse units available for lease.
• Ideal for storing equipment, materials, boats, ATVs, and trailers.
• Wired for electricity.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$72,797

Cap Rate

6.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,455,940 $1.5M

Cap Rate 7%

$1,039,957 $1.0M

Cap Rate 9%

$808,856 $808.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,990 SF

Gross rent

$87.4K $9.72/SF

− Vacancy

−$1.7K −$0.19/SF

EGI

$85.6K $9.53/SF

− OpEx

−$12.8K −$1.43/SF

NOI

$72.8K $8.10/SF

Area

Baton Rouge, LA

Vacancy

1.99%

Lease Rate

$9.72 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,455,940

Cap Rate 7%

$1,039,957

Cap Rate 9%

$808,856

Alternative Uses

Best Use

Warehouse

$1.04M

$910.0K – $1.21M (±1% cap)

NOI $72,797 @ 7.0% cap · market cap 6.48%

Second Best

Industrial

$856.4K

$749.4K – $999.2K (±1% cap)

NOI $59,951 @ 7.0% cap · market cap 5.33%

Theoretical Best

Specialty Retail

$2.15M

$1.88M – $2.51M (±1% cap)

NOI $150,712 @ 7.0% cap · market cap 13.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Restaurant Parking Lot & Garage Grocery & Convenience Store Garden Center Kitchen & Bath Showroom Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

993

Businesses Nearby

Well-served

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Storage Rentals of America — 8969 Interline Ave, Baton Rouge, LA 70809
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• Alpha Maxi-Storage — 9111 Interline Ave # 2A, Baton Rouge, LA 70809
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• GetGo Move It Inside Units Not Far Very Near — 1400 Gwenadele Ave, Baton Rouge, LA 70816

Frequently Asked Questions

What type of property is this?

Warehouse - Seven warehouse units available for lease, suitable for storage.

Where is this warehouse located?

The property is located at 10242 Patriot Dr Baton Rouge, LA.

What is the asking price?

The asking price for this property is $1,123,750.

What are key features of this property?

This property features: Seven warehouse units available for lease.; Ideal for storing equipment, materials, boats, ATVs, and trailers.; Wired for electricity.