Freestanding Building on Greenwell
For Sale
Contact for pricing
15151 Greenwell Springs Rd, Central, LA 70739
6,000 SF freestanding building with showroom and office space.
Property Size6,750 SF
Lot Size5.96 Acres
Price / SF$100
Days on Market795
Property Features for 15151 Greenwell Springs Rd
General Information
Standard status
Active
Size
6,750 SF
Lot size
5.96 Acres
Property subtype
Industrial
Zoning
B1
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
Derbes Falgoust Commercial Real Estate
Listed By:
Scot Guidry · License #LA 37589
(225) 778-5858
Source:
Crexi
Added: Jul 22, 2024
Changed: Sep 18
Last Checked: Sep 22 at 2:03PM
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
Investment Insights
Based on property information with market context.
The property features a 6,000 square foot freestanding, pre-engineered metal building with a grade-level slab, complemented by an additional 750 square foot cinder-block structure at the rear, previously used as a kitchen. The building has a 12-foot eave height. The interior is fully climate controlled and includes 4,800 square feet of showroom space and 1,200 square feet of back office, bathroom, parts, and break area at the rear. The interior also features 8-foot to 9-foot drop ceilings. Situated on a 5.96 acre property, the building is set back approximately 650 to 700 feet from Greenwell Springs Road. Sewer services are provided by a private septic system. The property is suitable for flex space, industrial, showroom, retail, office, and warehouse uses.
Key Highlights
- Large 6,000± sq ft freestanding metal building with additional 750± sq ft cinder‑block addition.
- 5.96± acre property offering significant space and potential.
- Fully climate‑controlled interior** suitable for showroom and office use.
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
$45,013
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
6.67%
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%
$900,260
$900.3K
Cap Rate 7%
$643,043
$643.0K
Cap Rate 9%
$500,144
$500.1K
Market Conditions
NOI Build-Up for 6,750 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
$65.6K $9.72/SF
− Vacancy
−$1.3K −$0.19/SF
EGI
$64.3K $9.53/SF
− OpEx
−$19.3K −$2.86/SF
NOI
$45.0K $6.67/SF
Area
Baton Rouge, LA
Vacancy
1.99%
Lease Rate
$9.72 /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%
$900,260
Cap Rate 7%
$643,043
Cap Rate 9%
$500,144
Alternative Uses
Best Use
Industrial
$643.0K
$562.7K – $750.2K
NOI $45,013 @ 7.0% cap · market cap 6.67%
Second Best
Flex RnD
$626.5K
$548.2K – $731.0K
NOI $43,857 @ 7.0% cap · market cap 6.50%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,159 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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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 - 6,000 SF freestanding building with showroom and office space.
Where is this flex space located?
The property is located at 15151 Greenwell Springs Rd Central, 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: Large 6,000± sq ft freestanding metal building with additional 750± sq ft cinder‑block addition.; 5.96± acre property offering significant space and potential.; Fully climate‑controlled interior** suitable for showroom and office use.
