Mid-Century Office/Retail Building For
For Sale
$399,000
2031 Government St Baton, Baton Rouge, LA 70806
Freestanding office/retail building in a growing commercial corridor.
Property Size2,000 SF
Price / SF$199.50
Days on Market185
Property Features for 2031 Government St Baton
General Information
Standard status
Active
Size
2,000 SF
Class
A
Property subtype
Single Tenant Office
Building Details
Building Size
2,000 SF
Listing Agency:
Elifin Realty
(225) 460-0877
Listed By:
Jacob Loveland
(225) 460-0877
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 21
Last Checked: Aug 22 at 3:34AM
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
Investment Insights
Based on property information with market context.
The property at 2031 Government St is a freestanding office/retail building with approximately 2,000 square feet of space, situated on a visible corner lot. Designed by A. Hayes Town in the 1960s, the property showcases a distinctive mid-century style, incorporating modern architectural elements. Updates include a shingle roof and vinyl flooring. The property is suitable for both office and retail uses. It includes 11 on-site parking spaces. Located in the heart of Mid City, the property is surrounded by established local businesses such as French Truck Coffee, Barracuda Taco, Pink Elephant Antiques, and Elsie’s Plate & Pie. The area is recognized as one of Baton Rouge’s fastest-growing commercial corridors. The seller requires a lease-back period of 30 to 60 days following closing.
Key Highlights
- Visible corner lot location in the heart of Mid City.
- A. Hayes Town designed building with distinctive mid‑century style.
- Suitable for both office and retail uses.
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
$19,130
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
4.79%
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%
$382,600
$382.6K
Cap Rate 7%
$273,286
$273.3K
Cap Rate 9%
$212,556
$212.6K
Market Conditions
NOI Build-Up for 2,000 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
$26.2K $13.08/SF
− Vacancy
−$654 −$0.33/SF
EGI
$25.5K $12.75/SF
− OpEx
−$6.4K −$3.19/SF
NOI
$19.1K $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%
$382,600
Cap Rate 7%
$273,286
Cap Rate 9%
$212,556
Alternative Uses
Best Use
Office B
$273.3K
$239.1K – $318.8K
NOI $19,130 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$479.0K
$419.1K – $558.8K
NOI $33,529 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 70806, LA
27,898
Population
14,972
Households
1.9
Avg Household Size
37
Median Age
40%
College-Educated
90%
High-School Grad
8.9 sq mi
ZIP Area
3,135
Density / Sq Mi
$53,430
Median Household Income
$41,894
Median Earnings
$1,014
Median Rent
$321,400
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 - Freestanding office/retail building in a growing commercial corridor.
Where is this office building located?
The property is located at 2031 Government St Baton Baton Rouge, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Visible corner lot location in the heart of Mid City.; A. Hayes Town designed building with distinctive mid‑century style.; Suitable for both office and retail uses.
