Historic Mixed-Use Office
For Sale
$2,950,000
342 Lafayette St, Baton Rouge, LA 70801
Completely occupied building with three offices and three one-bedroom, one-bath apartments, plus a lot to the rear.
Property Size11,171 SF
Price / SF$264.08
Days on Market900
Property Features for 342 Lafayette St
General Information
Standard status
Active
Size
11,171 SF
Property subtype
Office
Zoning
C5
Occupancy
100%
Site & Location
Neighborhood
Downtown
Highway Access
Yes
Units
Multifamily Units
3
Office Units
3
Building Details
Tenancy
Multi
Listing Agency:
Guillot Realty, Inc
Listed By:
Peggy Guillot
(225) 473-7952
Source:
Lacdb.resimplifi
Added: May 8, 2024
Changed: Oct 3
Last Checked: Oct 23 at 3:34AM
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 Guillot Realty, Inc
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Investment Insights
Based on property information with market context.
The Tessier Building is a historic property offering a mixed configuration of three offices and three one-bedroom, one-bath apartments. The building is completely occupied, with each apartment listed at $1,200 per month. A lot to the rear is included.
Located in downtown Baton Rouge, the building provides easy access to I-10 and the Baton Rouge Bridge. It is also within walking distance of River Center, restaurants, shopping, and downtown nightlife.
Current income is provided as an average total of $18,884 per month across the occupied units.
Located in downtown Baton Rouge, the building provides easy access to I-10 and the Baton Rouge Bridge. It is also within walking distance of River Center, restaurants, shopping, and downtown nightlife.
Current income is provided as an average total of $18,884 per month across the occupied units.
Key Highlights
- Fully occupied historic building in Downtown Baton Rouge with 3 offices and 3 one‑bedroom, one‑bath apartments
- Apartments rent for $1,200 per unit (total income avg $18,884 per month)
- Walking distance to River Center, restaurants, shopping, and downtown nightlife
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,323
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,306,460
$2.3M
Cap Rate 7%
$1,647,471
$1.6M
Cap Rate 9%
$1,281,367
$1.3M
Market Conditions
NOI Build-Up for 11,171 SF
Gross rent
$172.9K $15.48/SF
− Vacancy
−$8.2K −$0.73/SF
EGI
$164.7K $14.75/SF
− OpEx
−$49.4K −$4.42/SF
NOI
$115.3K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,306,460
Cap Rate 7%
$1,647,471
Cap Rate 9%
$1,281,367
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.92M
NOI $115,323 @ 7.0% cap · market cap 3.91%
Second Best
Office B
$1.53M
$1.34M – $1.78M
NOI $106,848 @ 7.0% cap · market cap 3.62%
Theoretical Best
Specialty Retail
$2.68M
$2.34M – $3.12M
NOI $187,275 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Triplex - Completely occupied building with three offices and three one-bedroom, one-bath apartments, plus a lot to the rear.
Where is this triplex located?
The property is located at 342 Lafayette St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Fully occupied historic building in Downtown Baton Rouge with 3 offices and 3 one‑bedroom, one‑bath apartments; Apartments rent for $1,200 per unit (total income avg $18,884 per month); Walking distance to River Center, restaurants, shopping, and downtown nightlife
