Medical Office
For Sale
$1,300,000
2902 Florida St, Baton Rouge, LA 70802
The property dates to 2015 and is identified for medical office use.
Property Size6,135 SF
Price / SF$211.90
Days on Market68
Property Features for 2902 Florida St
General Information
Standard status
Active
Size
6,135 SF
Class
A
Property subtype
Office
Building Details
Building Size
6,135 SF
Year Built
2015
Listing Agency:
Saurage Rotenberg Commercial Real Estate
(225) 229-4371
Listed By:
Brian Nicolich · License #LA #995695629
Source:
Sauragerotenberg
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 2:28PM
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 Saurage Rotenberg Commercial Real Estate
Investment Insights
Based on property information with market context.
This medical office property encompasses approximately 6,135 square feet and was built in 2015. The building is described as modern and is positioned for medical office operations.
The property is located at 2902 Florida St in Baton Rouge’s Mid City area, with a 70802 ZIP Code. Its established medical-office classification provides a clear fit for healthcare-related occupancy.
The property is located at 2902 Florida St in Baton Rouge’s Mid City area, with a 70802 ZIP Code. Its established medical-office classification provides a clear fit for healthcare-related occupancy.
Key Highlights
- Approximately 6,135 SF of medical office space
- Built in 2015
- Modern medical office property
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
$59,058
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
4.54%
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%
$1,181,160
$1.2M
Cap Rate 7%
$843,686
$843.7K
Cap Rate 9%
$656,200
$656.2K
Market Conditions
NOI Build-Up for 6,135 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
$103.1K $16.80/SF
− Vacancy
−$4.6K −$0.76/SF
EGI
$98.4K $16.04/SF
− OpEx
−$39.4K −$6.42/SF
NOI
$59.1K $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%
$1,181,160
Cap Rate 7%
$843,686
Cap Rate 9%
$656,200
Alternative Uses
Best Use
Healthcare Medical
$843.7K
$738.2K – $984.3K
NOI $59,058 @ 7.0% cap · market cap 4.54%
Second Best
Office B
$838.3K
$733.5K – $978.0K
NOI $58,680 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.71M
NOI $102,849 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
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?
Medical Office Space - The property dates to 2015 and is identified for medical office use.
Where is this medical office space located?
The property is located at 2902 Florida St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 6,135 SF of medical office space; Built in 2015; Modern medical office property
