Second-Floor Office Condo
For Sale
$150,000
18-10988 N Harrells Ferry Rd, Baton Rouge, LA 70816
Configured with private offices, conference space, kitchenette, and shared workspace for an established professional office setting.
Property Size1,430 SF
Price / SF$104.90
Days on Market70
Property Features for 18-10988 N Harrells Ferry Rd
General Information
Standard status
Active
Size
1,430 SF
Additional Details
Floor
2
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,800
Amenities
pond
outdoor seating areas
Building Details
Tenancy
Single
Listing Agency:
Grassroots Real Estate Group
Listed By:
David Madaffari · License #995717024
(225) 772-3283
Source:
Exprealty
Added: Jun 25
Changed: Aug 21
Last Checked: Sep 2 at 1:18AM
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 Grassroots Real Estate Group
Investment Insights
Based on property information with market context.
This 1,430-square-foot second-floor office condo suite is configured as a double-unit commercial suite currently occupied by a law firm. The layout includes a lobby and reception area, four private offices, a dedicated conference room, a private restroom, a fully equipped kitchenette, and an open shared work area providing six usable workspaces. Custom millwork, classic brick pavers, two sets of French door entrances, and transom windows add distinctive interior character.
Located within Myrtle Lake Plaza, the office park includes a pond, outdoor seating areas, and an off-street parking lot for tenants and visitors. The property offers approximately one-minute access to Old Hammond Highway and South Sherwood Forest Boulevard, with Interstate 12 approximately two to three minutes away.
Located within Myrtle Lake Plaza, the office park includes a pond, outdoor seating areas, and an off-street parking lot for tenants and visitors. The property offers approximately one-minute access to Old Hammond Highway and South Sherwood Forest Boulevard, with Interstate 12 approximately two to three minutes away.
Key Highlights
- 1,430‑square‑foot second‑floor office condo suite
- Double‑unit configuration with six usable workspaces
- Four private offices, conference room, lobby/reception, restroom, kitchenette, and shared work area
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
$13,678
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
9.12%
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%
$273,560
$273.6K
Cap Rate 7%
$195,400
$195.4K
Cap Rate 9%
$151,978
$152.0K
Market Conditions
NOI Build-Up for 1,430 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
$18.7K $13.08/SF
− Vacancy
−$468 −$0.33/SF
EGI
$18.2K $12.75/SF
− OpEx
−$4.6K −$3.19/SF
NOI
$13.7K $9.56/SF
Area
Baton Rouge, LA
Vacancy
2.50%
Lease Rate
$13.08 /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%
$273,560
Cap Rate 7%
$195,400
Cap Rate 9%
$151,978
Alternative Uses
Best Use
Office B
$195.4K
$171.0K – $228.0K
NOI $13,678 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$342.5K
$299.7K – $399.6K
NOI $23,973 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Configured with private offices, conference space, kitchenette, and shared workspace for an established professional office setting.
Where is this office units located?
The property is located at 18-10988 N Harrells Ferry Rd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,430‑square‑foot second‑floor office condo suite; Double‑unit configuration with six usable workspaces; Four private offices, conference room, lobby/reception, restroom, kitchenette, and shared work area
