Historic Mixed-Use Building with Rooftop
For Sale
$2,500,000
304 Laurel St, Baton Rouge, LA 70801
Historic mixed-use building restored in 2003, featuring a rooftop penthouse deck with Mississippi River views.
Property Size20,000 SF
Price / SF$125
Days on Market389
Property Features for 304 Laurel St
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Office
Zoning
C5
Additional Details
Sprinkler System
Yes
Amenities
rooftop deck
Building Details
Year Built
1906
Year Renovated
2003
Buildings
1
Tenancy
Multi
Listing Agency:
Lee & Associates
Listed By:
Bill Sanders · License #995681354
(225) 332-0979
Source:
Lacdb.resimplifi
Added: Aug 27, 2025
Changed: Sep 9
Last Checked: Sep 18 at 3:49AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
Historic mixed-use building restored in 2003, offering a rooftop penthouse and deck with Mississippi River views. The property is fully sprinklered and designed to support a mix of uses within one building.
Located at 304 Laurel St in the heart of Baton Rouge’s CBD, the building is described as a prime downtown corner location. The property sits within a growth corridor of Plan Baton Rouge III.
Tenancy includes a wine bar, offices, and residential units. Lease terms are described as varied, and a rent roll is available, which can support buyer or tenant underwriting. With approximately 20,000 square feet of total property size, this building can be evaluated for either investment ownership or an owner-occupant strategy based on the existing mix of spaces.
Located at 304 Laurel St in the heart of Baton Rouge’s CBD, the building is described as a prime downtown corner location. The property sits within a growth corridor of Plan Baton Rouge III.
Tenancy includes a wine bar, offices, and residential units. Lease terms are described as varied, and a rent roll is available, which can support buyer or tenant underwriting. With approximately 20,000 square feet of total property size, this building can be evaluated for either investment ownership or an owner-occupant strategy based on the existing mix of spaces.
Key Highlights
- Restored in 2003 historic mixed‑use building
- Rooftop penthouse and deck with Mississippi River views
- Fully sprinklered building
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
$191,295
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
7.65%
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%
$3,825,900
$3.8M
Cap Rate 7%
$2,732,786
$2.7M
Cap Rate 9%
$2,125,500
$2.1M
Market Conditions
NOI Build-Up for 20,000 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
$261.6K $13.08/SF
− Vacancy
−$6.5K −$0.33/SF
EGI
$255.1K $12.75/SF
− OpEx
−$63.8K −$3.19/SF
NOI
$191.3K $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%
$3,825,900
Cap Rate 7%
$2,732,786
Cap Rate 9%
$2,125,500
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.19M
NOI $191,295 @ 7.0% cap · market cap 7.65%
Second Best
Mixed Use
$2.67M
$2.34M – $3.12M
NOI $187,200 @ 7.0% cap · market cap 7.49%
Theoretical Best
Specialty Retail
$4.79M
$4.19M – $5.59M
NOI $335,287 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,471
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building restored in 2003, featuring a rooftop penthouse deck with Mississippi River views.
Where is this mixed-use property located?
The property is located at 304 Laurel St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Restored in 2003 historic mixed‑use building; Rooftop penthouse and deck with Mississippi River views; Fully sprinklered building
