Mixed-Use Property with Two
For Sale
$550,000
3529 Cole Dr, Baton Rouge, LA 70806
The B-1 property is currently used as a residence and includes two kitchens, a garage, and on- and off-street parking.
Property Size2,884 SF
Price / SF$190.71
Days on Market958
Property Features for 3529 Cole Dr
General Information
Standard status
Active
Size
2,884 SF
Property subtype
Other
Zoning
B1
Amenities
two kitchens
small pool
Water
Sewer
Listing Agency:
Coldwell Banker Commercial One
(225) 925-2300
Listed By:
David Palmer · License #0912122348
(225) 925-2300
Source:
Lacdb.resimplifi
Added: Jan 17, 2024
Changed: Aug 29
Last Checked: Aug 31 at 1:28PM
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 Coldwell Banker Commercial One
Investment Insights
Based on property information with market context.
This 2,884-square-foot mixed-use property is currently used as a residence and includes two kitchens, a two-car garage, on-street parking, off-street parking, and a small pool. The building previously contained separate residential, hair salon, and upstairs rental areas, with the upper portion occupied by LSU students.
Zoned B-1, the property is positioned near the corner of Acadian and Government. Its existing configuration combines residential space with multiple interior areas and garage parking. The listing agent must be present for all showings.
Zoned B-1, the property is positioned near the corner of Acadian and Government. Its existing configuration combines residential space with multiple interior areas and garage parking. The listing agent must be present for all showings.
Key Highlights
- 2,884‑square‑foot mixed‑use property
- B‑1 zoning
- Two kitchens within the building
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
$26,994
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
4.91%
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%
$539,880
$539.9K
Cap Rate 7%
$385,629
$385.6K
Cap Rate 9%
$299,933
$299.9K
Market Conditions
NOI Build-Up for 2,884 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
$45.0K $15.60/SF
− Vacancy
−$1.8K −$0.62/SF
EGI
$43.2K $14.98/SF
− OpEx
−$16.2K −$5.62/SF
NOI
$27.0K $9.36/SF
Area
Baton Rouge, LA
Vacancy
4.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$539,880
Cap Rate 7%
$385,629
Cap Rate 9%
$299,933
Alternative Uses
Best Use
Mixed Use
$385.6K
$337.4K – $449.9K
NOI $26,994 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$690.7K
$604.4K – $805.8K
NOI $48,348 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,625
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The B-1 property is currently used as a residence and includes two kitchens, a garage, and on- and off-street parking.
Where is this mixed-use property located?
The property is located at 3529 Cole Dr Baton Rouge, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,884‑square‑foot mixed‑use property; B‑1 zoning; Two kitchens within the building
