Two-Story Bar and Entertainment
For Sale
$2,450,000
326 3rd St, Baton Rouge, LA 70801
Two-story downtown bar and second-floor catering space operated under NNN leases.
Property Size11,583 SF
Price / SF$211.52
Days on Market2919
Property Features for 326 3rd St
General Information
Standard status
Active
Size
11,583 SF
Property subtype
Retail
Zoning
C5
Occupancy
100%
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Maestri-Murrell Inc
Listed By:
Jonathan Walker · License #0000074518
(225) 810-3294
Source:
Lacdb.resimplifi
Added: Sep 17, 2018
Changed: Sep 8
Last Checked: Sep 12 at 4:03AM
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 Maestri-Murrell Inc
Investment Insights
Based on property information with market context.
Two-story bar and entertainment property with approximately 11,583 SF of space. Driftwood Cask and Barrell operates on the first floor, while Trademark Catering operates on the second floor.
The building is located at 326 3rd St in downtown Baton Rouge, on 3rd Street between Florida and Laurel. The property is surrounded by nearby hospitality and entertainment users including Marriott, Raising Cane’s, City Bar, and Magpie.
Both floors are covered by NNN leases, providing an investor structure for this multi-operator setup. Please do not disturb tenants; contact the agent for additional details.
The building is located at 326 3rd St in downtown Baton Rouge, on 3rd Street between Florida and Laurel. The property is surrounded by nearby hospitality and entertainment users including Marriott, Raising Cane’s, City Bar, and Magpie.
Both floors are covered by NNN leases, providing an investor structure for this multi-operator setup. Please do not disturb tenants; contact the agent for additional details.
Key Highlights
- Approximately 11,583 SF two‑story building
- Driftwood Cask and Barrell operates on the first floor
- Trademark Catering operates on the second floor
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
$194,182
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
7.93%
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%
$3,883,640
$3.9M
Cap Rate 7%
$2,774,029
$2.8M
Cap Rate 9%
$2,157,578
$2.2M
Market Conditions
NOI Build-Up for 11,583 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
$259.9K $22.44/SF
− Vacancy
−$1.0K −$0.09/SF
EGI
$258.9K $22.35/SF
− OpEx
−$64.7K −$5.59/SF
NOI
$194.2K $16.76/SF
Area
Baton Rouge, LA
Vacancy
0.39%
Lease Rate
$22.44 /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%
$3,883,640
Cap Rate 7%
$2,774,029
Cap Rate 9%
$2,157,578
Alternative Uses
Best Use
Specialty Retail
$2.77M
$2.43M – $3.24M
NOI $194,182 @ 7.0% cap · market cap 7.93%
Second Best
Industrial
$1.10M
$965.5K – $1.29M
NOI $77,242 @ 7.0% cap · market cap 3.15%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,471
Businesses Nearby
27k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 62%
Shops & Services 38%
Hampton Inn & Suites Baton Rouge Downtown
Hotels & Casinos
5,888 visits/mo
0.1 miles
Hotel Indigo Baton Rouge Downtown, an IHG Hotel
Hotels & Casinos
5,595 visits/mo
0.1 miles
Courtyard Baton Rouge Downtown
Hotels & Casinos
5,119 visits/mo
0.1 miles
Chase Bank
Shops & Services
4,470 visits/mo
0.1 miles
FedEx Office Print & Ship Center
Shops & Services
1,820 visits/mo
0.2 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-story downtown bar and second-floor catering space operated under NNN leases.
Where is this bar & pub located?
The property is located at 326 3rd St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Approximately 11,583 SF two‑story building; Driftwood Cask and Barrell operates on the first floor; Trademark Catering operates on the second floor
