Corner Convenience Store
For Sale
$490,000
2377 N Flannery Rd, Baton Rouge, LA 70814
C-AB-2 zoning permits alcohol sales and lounge uses, with kitchen and deli improvements planned.
Property Size4,480 SF
Price / SF$109.38
Days on Market392
Property Features for 2377 N Flannery Rd
General Information
Standard status
Active
Size
4,480 SF
Total Parking Spaces
71
Property subtype
General Commercial
Zoning
C-AB-2
Additional Details
Corner Location
Yes
Amenities
125 gal. grease trap
walk-in cooler
outdoor fenced-in condenser area
3
Parking. Corner Lot.
71 Parking Spaces. Asphalt, Lot, On Site.
Suburban, Corner.
Listing Agency:
Keller Williams Realty Premier Partners
(225) 664-1911
Listed By:
Vanessa Adkins · License #995707107
(225) 664-1911
Source:
Xome
Added: Aug 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:58PM
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 Keller Williams Realty Premier Partners
Investment Insights
Based on property information with market context.
This 4,480-square-foot commercial property is being remodeled for conversion from an existing bar into a convenience store with a kitchen and deli. Improvements include a 125-gallon grease trap and a 288-square-foot addition designated for a boiler area and walk-in cooler, along with a fenced exterior condenser area. A future fuel canopy is contemplated under a separate permit.
The property is positioned at 2377 N Flannery Rd in Baton Rouge, on a corner lot with 71 dedicated parking spaces. Its C-AB-2 Commercial Alcoholic Beverage District designation permits alcohol sales and lounge uses, supporting several convenience, food-service, and entertainment configurations.
The property is positioned at 2377 N Flannery Rd in Baton Rouge, on a corner lot with 71 dedicated parking spaces. Its C-AB-2 Commercial Alcoholic Beverage District designation permits alcohol sales and lounge uses, supporting several convenience, food-service, and entertainment configurations.
Key Highlights
- 4,480 sq. ft. commercial property at 2377 N Flannery Rd, Baton Rouge, LA 70814
- C‑AB‑2 Commercial Alcoholic Beverage District permits alcohol sales and lounge uses
- Remodel converts an existing bar to a convenience store with kitchen and deli
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
$29,875
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
6.10%
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%
$597,500
$597.5K
Cap Rate 7%
$426,786
$426.8K
Cap Rate 9%
$331,944
$331.9K
Market Conditions
NOI Build-Up for 4,480 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
$43.5K $9.72/SF
− Vacancy
−$867 −$0.19/SF
EGI
$42.7K $9.53/SF
− OpEx
−$12.8K −$2.86/SF
NOI
$29.9K $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%
$597,500
Cap Rate 7%
$426,786
Cap Rate 9%
$331,944
Alternative Uses
Best Use
Specialty Retail
$1.07M
$938.8K – $1.25M
NOI $75,104 @ 7.0% cap · market cap 15.33%
Second Best
Retail
$1.00M
$876.2K – $1.17M
NOI $70,097 @ 7.0% cap · market cap 14.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70814, LA
14,061
Population
5,126
Households
2.7
Avg Household Size
37
Median Age
19%
College-Educated
92%
High-School Grad
8.9 sq mi
ZIP Area
1,580
Density / Sq Mi
$53,280
Median Household Income
$36,031
Median Earnings
$1,064
Median Rent
$181,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Vinh Phat Market — 12351 Florida Blvd, Baton Rouge, LA 70815
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - C-AB-2 zoning permits alcohol sales and lounge uses, with kitchen and deli improvements planned.
Where is this grocery and convenience store located?
The property is located at 2377 N Flannery Rd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 4,480 sq. ft. commercial property at 2377 N Flannery Rd, Baton Rouge, LA 70814; C‑AB‑2 Commercial Alcoholic Beverage District permits alcohol sales and lounge uses; Remodel converts an existing bar to a convenience store with kitchen and deli
