Equipped Restaurant with
For Sale
$589,000
209 W State St, Baton Rouge, LA 70802
Restaurant property with dining, bar, kitchen, and patio areas, plus updated flooring, booths, roof, and HVAC.
Property Size2,427 SF
Price / SF$242.69
Days on Market853
Property Features for 209 W State St
General Information
Standard status
Active
Size
2,427 SF
Property subtype
Retail
Zoning
C-AB-2
Restaurant
Commercial Hood
Yes
Patio
Yes
Amenities
security cameras
Water
Sewer
Listing Agency:
Kurz & Hebert
(225) 925-0600
Listed By:
Judah Vedros
(225) 925-0600
Source:
Lacdb.resimplifi
Added: May 1, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:32PM
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 Kurz & Hebert
Investment Insights
Based on property information with market context.
This approximately 2,427-square-foot restaurant building includes a dining room, functional bar, kitchen, and outdoor patio seating. The dining area has new flooring, recently upholstered booths, tables, and chairs. Bar glassware remains with the property, while the kitchen hood vent has been serviced and a new on-demand hot water heater installed. A recently replaced roof and one newer HVAC unit add to the physical improvements, and the security camera system is operational.
The property carries C-AB-2 zoning, allowing operation as either a restaurant serving alcohol or a bar. A new 3-year lease was signed May 1, 2026. The property is located at 209 W State St in Baton Rouge.
The property carries C-AB-2 zoning, allowing operation as either a restaurant serving alcohol or a bar. A new 3-year lease was signed May 1, 2026. The property is located at 209 W State St in Baton Rouge.
Key Highlights
- Approximately 2,427 SF restaurant building with dining, bar, kitchen, and patio areas
- C‑AB‑2 zoning permits restaurant use serving alcohol or bar operations
- Dining room includes new floors, upholstered booths, tables, and chairs
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
$40,687
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
6.91%
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%
$813,740
$813.7K
Cap Rate 7%
$581,243
$581.2K
Cap Rate 9%
$452,078
$452.1K
Market Conditions
NOI Build-Up for 2,427 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
$54.5K $22.44/SF
− Vacancy
−$212 −$0.09/SF
EGI
$54.2K $22.35/SF
− OpEx
−$13.6K −$5.59/SF
NOI
$40.7K $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%
$813,740
Cap Rate 7%
$581,243
Cap Rate 9%
$452,078
Alternative Uses
Best Use
Specialty Retail
$581.2K
$508.6K – $678.1K
NOI $40,687 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
142k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 32%
Electronics 1%
Apparel 1%
Raising Cane's Chicken Fingers
Dining
24,676 visits/mo
0.2 miles
Chipotle Mexican Grill
Dining
16,197 visits/mo
0.1 miles
Burger King
Dining
13,917 visits/mo
0.1 miles
Circle K
Shops & Services
13,280 visits/mo
0.2 miles
Buffalo Wild Wings
Dining
12,298 visits/mo
0.1 miles
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
Median Home Value
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 - Restaurant property with dining, bar, kitchen, and patio areas, plus updated flooring, booths, roof, and HVAC.
Where is this conventional restaurant located?
The property is located at 209 W State St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Approximately 2,427 SF restaurant building with dining, bar, kitchen, and patio areas; C‑AB‑2 zoning permits restaurant use serving alcohol or bar operations; Dining room includes new floors, upholstered booths, tables, and chairs
