Historic Mixed-Use Office
For Sale
$2,950,000
342 Lafayette St, Baton Rouge, LA 70801
Completely occupied building with three offices and three one-bedroom, one-bath apartments, plus a lot to the rear.
Property Size11,171 SF
Price / SF$264.08
Days on Market854
Property Features for 342 Lafayette St
General Information
Standard status
Active
Size
11,171 SF
Property subtype
Office
Zoning
C5
Occupancy
100%
Units
Multifamily Units
3
Office Units
3
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Guillot Realty, Inc
Listed By:
Peggy Guillot
(225) 473-7952
Source:
Lacdb.resimplifi
Added: May 8, 2024
Changed: Sep 8
Last Checked: Sep 8 at 5:49AM
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 Guillot Realty, Inc
Investment Insights
Based on property information with market context.
The Tessier Building is a historic property offering a mixed configuration of three offices and three one-bedroom, one-bath apartments. The building is completely occupied, with each apartment listed at $1,200 per month. A lot to the rear is included.
Located in downtown Baton Rouge, the building provides easy access to I-10 and the Baton Rouge Bridge. It is also within walking distance of River Center, restaurants, shopping, and downtown nightlife.
Current income is provided as an average total of $18,884 per month across the occupied units.
Located in downtown Baton Rouge, the building provides easy access to I-10 and the Baton Rouge Bridge. It is also within walking distance of River Center, restaurants, shopping, and downtown nightlife.
Current income is provided as an average total of $18,884 per month across the occupied units.
Key Highlights
- Fully occupied historic building in Downtown Baton Rouge with 3 offices and 3 one‑bedroom, one‑bath apartments
- Apartments rent for $1,200 per unit (total income avg $18,884 per month)
- Walking distance to River Center, restaurants, shopping, and downtown nightlife
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
$115,323
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
3.91%
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%
$2,306,460
$2.3M
Cap Rate 7%
$1,647,471
$1.6M
Cap Rate 9%
$1,281,367
$1.3M
Market Conditions
NOI Build-Up for 11,171 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
$172.9K $15.48/SF
− Vacancy
−$8.2K −$0.73/SF
EGI
$164.7K $14.75/SF
− OpEx
−$49.4K −$4.42/SF
NOI
$115.3K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$2,306,460
Cap Rate 7%
$1,647,471
Cap Rate 9%
$1,281,367
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.92M
NOI $115,323 @ 7.0% cap · market cap 3.91%
Second Best
Office B
$1.53M
$1.34M – $1.78M
NOI $106,848 @ 7.0% cap · market cap 3.62%
Theoretical Best
Specialty Retail
$2.68M
$2.34M – $3.12M
NOI $187,275 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 70801, LA
340
Population
240
Households
1.4
Avg Household Size
40
Median Age
70%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
3,400
Density / Sq Mi
$112,787
Median Household Income
$103,750
Median Earnings
$1,679
Median Rent
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Completely occupied building with three offices and three one-bedroom, one-bath apartments, plus a lot to the rear.
Where is this triplex located?
The property is located at 342 Lafayette St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Fully occupied historic building in Downtown Baton Rouge with 3 offices and 3 one‑bedroom, one‑bath apartments; Apartments rent for $1,200 per unit (total income avg $18,884 per month); Walking distance to River Center, restaurants, shopping, and downtown nightlife
