Freestanding CVS Pharmacy
For Sale
$2,200,000
3384 Government Street, Baton Rouge, LA 70806
Freestanding pharmacy building on a Southwest corner site with available “as-is” NNN sale terms.
Property Size10,908 SF
Days on Market75
Property Features for 3384 Government Street
General Information
Standard status
Active
Size
10,908 SF
Class
B
Property subtype
Office
Building Details
Building Size
10,908 SF
Listing Agency:
Beau Box Commercial Real Estate
Listed By:
Austin Lolan · License #0995689416
(337) 577-4700
Source:
Beaubox
Added: Jun 24
Changed: Sep 5
Last Checked: Sep 5 at 6:36AM
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 Beau Box Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a freestanding CVS Pharmacy building identified as LOT A, featuring approximately 10,908 square feet on 1.757 acres. The property is offered “as is” and structured as an NNN sale. The listing also notes a lease rate of $15.00 per square foot.
The site is located at the southwest corner of Government Street and S. Acadian Thruway in Baton Rouge, Louisiana. As a corner location, it benefits from exposure along two roads, supporting visibility for retail and neighborhood-serving uses.
The property is well suited for investors or operators seeking a drug store format within a dedicated freestanding setting. Given the existing pharmacy building improvements and the NNN structure, it can align with buyers looking for a straightforward investment anchored by a retail pharmacy use.
The site is located at the southwest corner of Government Street and S. Acadian Thruway in Baton Rouge, Louisiana. As a corner location, it benefits from exposure along two roads, supporting visibility for retail and neighborhood-serving uses.
The property is well suited for investors or operators seeking a drug store format within a dedicated freestanding setting. Given the existing pharmacy building improvements and the NNN structure, it can align with buyers looking for a straightforward investment anchored by a retail pharmacy use.
Key Highlights
- Freestanding CVS pharmacy building on a 1.757‑acre lot
- Building size: 10,908 SF
- Located at the southwest corner of Government Street and S. Acadian Thruway
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
$182,866
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
8.31%
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%
$3,657,320
$3.7M
Cap Rate 7%
$2,612,371
$2.6M
Cap Rate 9%
$2,031,844
$2.0M
Market Conditions
NOI Build-Up for 10,908 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
$244.8K $22.44/SF
− Vacancy
−$955 −$0.09/SF
EGI
$243.8K $22.35/SF
− OpEx
−$61.0K −$5.59/SF
NOI
$182.9K $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%
$3,657,320
Cap Rate 7%
$2,612,371
Cap Rate 9%
$2,031,844
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $182,866 @ 7.0% cap · market cap 8.31%
Second Best
Retail
$2.44M
$2.13M – $2.84M
NOI $170,675 @ 7.0% cap · market cap 7.76%
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
1,437
Businesses Nearby
47k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 43%
Electronics 3%
Family Dollar
Shops & Services
12,803 visits/mo
0.2 miles
Circle K
Shops & Services
10,572 visits/mo
0.3 miles
French Truck Coffee
Dining
8,877 visits/mo
0.1 miles
Domino's Pizza
Dining
5,137 visits/mo
0.2 miles
Pizza Hut
Dining
4,505 visits/mo
0.2 miles
Demographics for 70806, LA
27,898
Population
14,972
Households
1.9
Avg Household Size
37
Median Age
40%
College-Educated
90%
High-School Grad
8.9 sq mi
ZIP Area
3,135
Density / Sq Mi
$53,430
Median Household Income
$41,894
Median Earnings
$1,014
Median Rent
$321,400
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
- Cyndie Carles Hair Salon — 1212 s acadian thruway, baton rouge, la 70806
- Pallavi R. Patel, PD — 3384 Government St, Baton Rouge, LA 70806
- Prescriptions to Geaux — 3012 Government St, Baton Rouge, LA 70806
- Marc Gibbens, PD — 3384 Government St, Baton Rouge, LA 70806
- CVS — 3384 Government St, Baton Rouge, LA 70806
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding pharmacy building on a Southwest corner site with available “as-is” NNN sale terms.
Where is this drug store located?
The property is located at 3384 Government Street Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Freestanding CVS pharmacy building on a 1.757‑acre lot; Building size: 10,908 SF; Located at the southwest corner of Government Street and S. Acadian Thruway
