Multifamily Property with New
New
For Sale
$550,000
1346-1356 Main St, Baton Rouge, LA 70802
Five thousand one hundred square feet across a gated residential property with recently converted apartment units.
Property Size5,100 SF
Lot Size0.25 Acres
Price / SF$107.84
Days on Market3
Property Features for 1346-1356 Main St
General Information
Standard status
Active
Size
5,100 SF
Lot size
0.25 Acres
Property subtype
Multi-Family
Building Details
Year Renovated
2024
Listing Agency:
Castro Real Estate Services, LLC
Listed By:
Miguel Castro · License #B10199
(225) 936-7643
Source:
Soldbyqueen
Added: Sep 22
Last Checked: Sep 24 at 7:17AM
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 Castro Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This multifamily property contains 5,100 square feet on a quarter-acre parcel at 1346-1356 Main St in Baton Rouge. The site is enclosed by a block wall and iron gate, providing a defined residential setting.
In 2024, the former law-office portion was converted into a three-unit residential building. The property previously included a fourplex and the law office, creating a history of multiple residential and office configurations on the site.
In 2024, the former law-office portion was converted into a three-unit residential building. The property previously included a fourplex and the law office, creating a history of multiple residential and office configurations on the site.
Key Highlights
- 5,100‑square‑foot multifamily property on a quarter‑acre parcel
- Former law‑office space converted into a three‑unit residential building in 2024
- Property previously included a fourplex and law office
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
$46,696
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
8.49%
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%
$933,920
$933.9K
Cap Rate 7%
$667,086
$667.1K
Cap Rate 9%
$518,844
$518.8K
Market Conditions
NOI Build-Up for 5,100 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
$89.4K $17.52/SF
− Vacancy
−$4.4K −$0.87/SF
EGI
$84.9K $16.65/SF
− OpEx
−$38.2K −$7.49/SF
NOI
$46.7K $9.16/SF
Area
Baton Rouge, LA
Vacancy
4.98%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$933,920
Cap Rate 7%
$667,086
Cap Rate 9%
$518,844
Alternative Uses
Best Use
Apartment 5plus
$667.1K
$583.7K – $778.3K
NOI $46,696 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,498 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five thousand one hundred square feet across a gated residential property with recently converted apartment units.
Where is this apartment building located?
The property is located at 1346-1356 Main St 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: 5,100‑square‑foot multifamily property on a quarter‑acre parcel; Former law‑office space converted into a three‑unit residential building in 2024; Property previously included a fourplex and law office
