Absolute-Net Pizza Restaurant
For Sale
$1,384,950
13365 Coursey Blvd, Baton Rouge, LA 70816
Absolute-net leased Papa John’s pizza restaurant property offered for sale with zero landlord responsibilities.
Property Size5,790 SF
Price / SF$239.20
Days on Market2309
Property Features for 13365 Coursey Blvd
General Information
Standard status
Active
Size
5,790 SF
Property subtype
Retail
Zoning
HC1
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
Listed By:
Michael Stinson
(225) 907-7793
Source:
Lacdb.resimplifi
Added: May 20, 2020
Changed: Sep 8
Last Checked: Sep 13 at 5:22AM
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, LLC
Investment Insights
Based on property information with market context.
This is an absolute-net (NNN) pizza restaurant property offered for sale, structured with zero landlord responsibilities. The offering is anchored by Papa John’s, a restaurant company operating a take-out and pizza delivery model.
The property is located at 13365 Coursey Boulevard in Baton Rouge, Louisiana.
According to the provided remarks, Papa John’s operates over 4,600 establishments internationally, including more than 3,200 locations in the United States, with additional locations across 34 other countries.
The property is located at 13365 Coursey Boulevard in Baton Rouge, Louisiana.
According to the provided remarks, Papa John’s operates over 4,600 establishments internationally, including more than 3,200 locations in the United States, with additional locations across 34 other countries.
Key Highlights
- Absolute‑net lease property with zero landlord responsibilities
- Net leased to a Papa John’s pizza restaurant
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
$97,066
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
7.01%
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%
$1,941,320
$1.9M
Cap Rate 7%
$1,386,657
$1.4M
Cap Rate 9%
$1,078,511
$1.1M
Market Conditions
NOI Build-Up for 5,790 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
$129.9K $22.44/SF
− Vacancy
−$507 −$0.09/SF
EGI
$129.4K $22.35/SF
− OpEx
−$32.4K −$5.59/SF
NOI
$97.1K $16.76/SF
Area
Baton Rouge, LA
Vacancy
0.39%
Lease Rate
$22.44 /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%
$1,941,320
Cap Rate 7%
$1,386,657
Cap Rate 9%
$1,078,511
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.21M – $1.62M
NOI $97,066 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Shops & Services 33%
Dining 26%
Winn-Dixie
Groceries
16,325 visits/mo
0.2 miles
CC's Coffee House
Dining
7,430 visits/mo
0.5 miles
Exxon
Shops & Services
6,837 visits/mo
0.2 miles
Whitney Bank
Shops & Services
4,030 visits/mo
0.2 miles
Citgo
Shops & Services
1,685 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Absolute-net leased Papa John’s pizza restaurant property offered for sale with zero landlord responsibilities.
Where is this conventional restaurant located?
The property is located at 13365 Coursey Blvd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,384,950.
What are key features of this property?
This property features: Absolute‑net lease property with zero landlord responsibilities; Net leased to a Papa John’s pizza restaurant
