Medical Office on Corner
For Sale
$499,900
15165 S Harrells Ferry Rd, Baton Rouge, LA 70816
Existing medical office with an adjoining vacant lot for added building space, parking, or equipment storage.
Property Size2,000 SF
Price / SF$249.95
Days on Market119
Property Features for 15165 S Harrells Ferry Rd
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
10
Property subtype
Healthcare
Zoning
R
Additional Details
Road Access
Yes
Amenities
Power
Water
Sewer
10 Parking Spaces
Building Details
Year Built
2009
Listing Agency:
RE/MAX Professional
(225) 573-9100
Listed By:
Joe Moore · License #0000021564
(225) 573-9100
Source:
Lacdb.resimplifi
Added: May 6
Changed: Aug 31
Last Checked: Aug 31 at 1:13PM
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 RE/MAX Professional
Investment Insights
Based on property information with market context.
This medical office property includes an existing office building constructed in 2009 and situated on two corner lots. The current configuration supports medical office operations, while the layout may also accommodate accounting, tax, or general business office use. The property is zoned R and is accessible from S Harrells Ferry Rd in Baton Rouge.
A separate vacant lot of approximately 1/4 acre is located behind the existing office. That additional land can support future construction, expanded building space, parking, or equipment storage, subject to applicable approvals. The property address is 15165 S Harrells Ferry Rd, Baton Rouge, LA 70816.
A separate vacant lot of approximately 1/4 acre is located behind the existing office. That additional land can support future construction, expanded building space, parking, or equipment storage, subject to applicable approvals. The property address is 15165 S Harrells Ferry Rd, Baton Rouge, LA 70816.
Key Highlights
- Medical office property on 2 corner lots
- Existing office building constructed in 2009
- Current use is medical offices
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
$19,253
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
3.85%
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%
$385,060
$385.1K
Cap Rate 7%
$275,043
$275.0K
Cap Rate 9%
$213,922
$213.9K
Market Conditions
NOI Build-Up for 2,000 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
$33.6K $16.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$32.1K $16.04/SF
− OpEx
−$12.8K −$6.42/SF
NOI
$19.3K $9.63/SF
Area
Baton Rouge, LA
Vacancy
4.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
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%
$385,060
Cap Rate 7%
$275,043
Cap Rate 9%
$213,922
Alternative Uses
Best Use
Healthcare Medical
$275.0K
$240.7K – $320.9K
NOI $19,253 @ 7.0% cap · market cap 3.85%
Second Best
Office B
$273.3K
$239.1K – $318.8K
NOI $19,130 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$479.0K
$419.1K – $558.8K
NOI $33,529 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70816, LA
45,232
Population
21,024
Households
2.2
Avg Household Size
34
Median Age
36%
College-Educated
94%
High-School Grad
16.3 sq mi
ZIP Area
2,775
Density / Sq Mi
$65,894
Median Household Income
$39,344
Median Earnings
$1,155
Median Rent
$232,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical office with an adjoining vacant lot for added building space, parking, or equipment storage.
Where is this medical office space located?
The property is located at 15165 S Harrells Ferry Rd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Medical office property on 2 corner lots; Existing office building constructed in 2009; Current use is medical offices
