Flex Space With
For Sale
$275,000
3221 Common St, Lake Charles, LA 70601
Commercial building combining private offices with adaptable warehouse space and a roll-up door.
Property Size3,600 SF
Price / SF$76.39
Days on Market52
Property Features for 3221 Common St
General Information
Standard status
Active
Size
3,600 SF
Listing Agency:
The Real Estate Brokerage
(337) 540-4041
Listed By:
Justin Babineaux · License #995682326
Source:
Athomerealtyla
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 25 at 4:01AM
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 The Real Estate Brokerage
Investment Insights
Based on property information with market context.
This 3,600-square-foot flex property combines four offices with a substantial warehouse area, providing a practical mix of administrative and operational space. A roll-up door supports movement between the warehouse and exterior, while the building’s brick exterior, slab foundation, and new metal roof add durable physical improvements. The property is zoned B.
Located at 3221 Common St. in Lake Charles, the building sits just off Prien Lake Road. Its configuration supports businesses needing both enclosed work areas and dedicated storage or operating space within one facility.
Located at 3221 Common St. in Lake Charles, the building sits just off Prien Lake Road. Its configuration supports businesses needing both enclosed work areas and dedicated storage or operating space within one facility.
Key Highlights
- 3,600‑square‑foot flex property with office and warehouse areas
- Four offices provide dedicated administrative or work areas
- Warehouse includes a roll‑up door
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
$22,265
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
8.10%
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%
$445,300
$445.3K
Cap Rate 7%
$318,071
$318.1K
Cap Rate 9%
$247,389
$247.4K
Market Conditions
NOI Build-Up for 3,600 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
$34.1K $9.48/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$31.8K $8.84/SF
− OpEx
−$9.5K −$2.65/SF
NOI
$22.3K $6.18/SF
Area
Calcasieu County, LA
Vacancy
6.80%
Lease Rate
$9.48 /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%
$445,300
Cap Rate 7%
$318,071
Cap Rate 9%
$247,389
Alternative Uses
Best Use
Flex RnD
$701.2K
$613.6K – $818.1K
NOI $49,084 @ 7.0% cap · market cap 17.85%
Second Best
Office B
$451.3K
$394.9K – $526.5K
NOI $31,590 @ 7.0% cap · market cap 11.49%
Theoretical Best
Specialty Retail
$776.0K
$679.0K – $905.3K
NOI $54,319 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building combining private offices with adaptable warehouse space and a roll-up door.
Where is this flex space located?
The property is located at 3221 Common St Lake Charles, LA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,600‑square‑foot flex property with office and warehouse areas; Four offices provide dedicated administrative or work areas; Warehouse includes a roll‑up door
