Mixed-Use Office
For Sale
Contact for pricing
232 3rd St, Baton Rouge, LA 70801
First and second floors are fully leased to commercial tenants, with four residential units on the third floor.
Property Size15,100 SF
Price / SF$211.92
Days on Market281
Property Features for 232 3rd St
General Information
Standard status
Active
Size
15,100 SF
Property subtype
OFFICE
Building Details
Stories
3
Listing Agency:
Land Hawk Commercial Real Estate, LLC
(225) 319-5615
Listed By:
Brad Roberts
(225) 271-4299
Source:
Moodyscre
Added: Jan 5
Changed: Oct 4
Last Checked: Oct 12 at 10:20PM
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 Land Hawk Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This mixed-use building features commercial occupancy on the first and second floors and residential space on the third floor. The first and second floors are fully leased to commercial tenants. The third floor contains four residential units with high-end finishes and views of downtown Baton Rouge and the Mississippi River.
The property is located at 232 3rd St in Baton Rouge, LA 70801, offering a prime 3rd Street location.
With a split arrangement across floors, the building provides a combined commercial and residential configuration in a single structure.
The property is located at 232 3rd St in Baton Rouge, LA 70801, offering a prime 3rd Street location.
With a split arrangement across floors, the building provides a combined commercial and residential configuration in a single structure.
Key Highlights
- First and second floors fully leased to commercial tenants
- Third floor has four residential units
- High‑end finishes in the four residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,884
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,117,680
$3.1M
Cap Rate 7%
$2,226,914
$2.2M
Cap Rate 9%
$1,732,044
$1.7M
Market Conditions
NOI Build-Up for 15,100 SF
Gross rent
$233.7K $15.48/SF
− Vacancy
−$11.1K −$0.73/SF
EGI
$222.7K $14.75/SF
− OpEx
−$66.8K −$4.42/SF
NOI
$155.9K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,117,680
Cap Rate 7%
$2,226,914
Cap Rate 9%
$1,732,044
Alternative Uses
Best Use
Multifamily LT 5
$2.23M
$1.95M – $2.60M
NOI $155,884 @ 7.0% cap · market cap 4.87%
Second Best
Office B
$2.06M
$1.81M – $2.41M
NOI $144,428 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$3.62M
$3.16M – $4.22M
NOI $253,142 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,501
Businesses Nearby
Explore this area
Business Placement
Demographics for 70801, LA
340
Population
240
Households
1.4
Avg Household Size
40
Median Age
70%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
3,400
Density / Sq Mi
$112,787
Median Household Income
$103,750
Median Earnings
$1,679
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - First and second floors are fully leased to commercial tenants, with four residential units on the third floor.
Where is this office building located?
The property is located at 232 3rd St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: First and second floors fully leased to commercial tenants; Third floor has four residential units; High‑end finishes in the four residential units
