Building Details

Year Built 1900

Buildings 1

Construction pre-engineered metal

Listing Agency: Derbes Falgoust Commercial Real Estate, LLC s***@dfcre.com Show Phone

Listed By: Scot Guidry · License #37589 Show Phone

Source: Lacdb.resimplifi

Added: Jul 22, 2024 Changed: Aug 29 Last Checked: Aug 31 at 1:14PM

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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 Derbes Falgoust Commercial Real Estate, LLC

Investment Insights

Based on property information with market context.

This freestanding flex property features a pre-engineered metal building on a grade-level slab, with climate control throughout and 12-foot eave height. The interior includes approximately 4,800 square feet of showroom space, plus 1,200 square feet of offices, bathrooms, parts storage, and a break area. An approximately 750-square-foot cinder-block addition is positioned at the rear and was formerly used as a kitchen. Drop ceilings measure 8 feet 9 inches throughout the conditioned interior.

The building sits toward the rear of a 5.96-acre property, approximately 650 to 700 feet from Greenwell Springs Road. The site is zoned B2 and served by a private septic system. The property address is 15151 Greenwell Springs Rd, Greenwell Springs, LA 70739.

Key Highlights

• Climate‑controlled interior with approximately 4,800 sf of showroom space
• Approximately 1,200 sf of offices, bathrooms, parts area, and break area
• Approximately 750 sf rear cinder‑block addition formerly used as a kitchen

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

$45,415

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

6.73%

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%

$908,300 $908.3K

Cap Rate 7%

$648,786 $648.8K

Cap Rate 9%

$504,611 $504.6K

Market Conditions

NOI Build-Up for 8,896 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

$69.4K $7.80/SF

− Vacancy

−$4.5K −$0.51/SF

EGI

$64.9K $7.29/SF

− OpEx

−$19.5K −$2.19/SF

NOI

$45.4K $5.11/SF

Area

East Baton Rouge County, LA

Vacancy

6.50%

Lease Rate

$7.80 /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%

$908,300

Cap Rate 7%

$648,786

Cap Rate 9%

$504,611

Alternative Uses

Best Use

Flex RnD

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $93,000 @ 7.0% cap · market cap 13.78%

Second Best

Retail

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,323 @ 7.0% cap · market cap 12.64%

Theoretical Best

Office A

$1.84M

$1.61M – $2.14M (±1% cap)

NOI $128,471 @ 7.0% cap · market cap 19.03%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

PriceCo Supply Auto Repair Shop

Suggested Use

Top Pick Big Box & Wholesale Store Real Estate Agency Law Firm Auto Repair Shop HVAC Service Restaurant

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

137

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 70739, LA

12,890

Population

5,211

Households

2.5

Avg Household Size

40

Median Age

29%

College-Educated

96%

High-School Grad

47.4 sq mi

ZIP Area

272

Density / Sq Mi

$105,969

Median Household Income

$56,478

Median Earnings

$1,403

Median Rent

$295,700

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

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Kristenwood Catering and Reception Facility — 14025 Greenwell Springs Rd, Greenwell Springs, LA 70739

Frequently Asked Questions

What type of property is this?

Flex space - Freestanding B2-zoned building with showroom, office, service areas, and a private septic system on a sizable parcel.

Where is this flex space located?

The property is located at 15151 Greenwell Springs Rd Greenwell Springs, LA.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Climate‑controlled interior with approximately 4,800 sf of showroom space; Approximately 1,200 sf of offices, bathrooms, parts area, and break area; Approximately 750 sf rear cinder‑block addition formerly used as a kitchen