Updated Office
For Sale
Contact for pricing
3502 Patrick Street, Lake Charles, LA 70605
Configured with private offices, open work areas, support rooms, and a kitchen or break area.
Property Size3,552 SF
Price / SF$140.77
Days on Market148
Property Features for 3502 Patrick Street
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Office
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
NVST Real Estate Solutions
Listed By:
Hardtner Klumpp · License #LA 0995681882
(337) 263-2397
Source:
Crexi
Added: Apr 9
Changed: Sep 2
Last Checked: Sep 1 at 12:48AM
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 NVST Real Estate Solutions
Investment Insights
Based on property information with market context.
This 3,552-square-foot office building offers an updated interior arranged for professional office and service operations. The floor plan includes a reception area, five private offices, cubicle workspaces, a file room, storage room, and kitchen or break area.
The property is located at 3502 Patrick Street in Lake Charles, Louisiana, with access to Ryan Street and I-210. Its combination of enclosed offices, open work areas, and practical support spaces provides a defined workplace configuration for users seeking a centrally positioned office property.
The property is located at 3502 Patrick Street in Lake Charles, Louisiana, with access to Ryan Street and I-210. Its combination of enclosed offices, open work areas, and practical support spaces provides a defined workplace configuration for users seeking a centrally positioned office property.
Key Highlights
- 3,552‑square‑foot office building
- Updated interior layout with reception area and five private offices
- Cubicle workspaces provide an open office component
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
$31,169
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
6.23%
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%
$623,380
$623.4K
Cap Rate 7%
$445,271
$445.3K
Cap Rate 9%
$346,322
$346.3K
Market Conditions
NOI Build-Up for 3,552 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
$53.3K $15.00/SF
− Vacancy
−$11.7K −$3.30/SF
EGI
$41.6K $11.70/SF
− OpEx
−$10.4K −$2.93/SF
NOI
$31.2K $8.78/SF
Area
Calcasieu County, LA
Vacancy
22.00%
Lease Rate
$15.00 /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%
$623,380
Cap Rate 7%
$445,271
Cap Rate 9%
$346,322
Alternative Uses
Best Use
Office B
$445.3K
$389.6K – $519.5K
NOI $31,169 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$765.6K
$669.9K – $893.2K
NOI $53,594 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 70605, LA
39,903
Population
17,926
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
97%
High-School Grad
43.0 sq mi
ZIP Area
928
Density / Sq Mi
$88,337
Median Household Income
$46,173
Median Earnings
$1,348
Median Rent
$293,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured with private offices, open work areas, support rooms, and a kitchen or break area.
Where is this office building located?
The property is located at 3502 Patrick Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,552‑square‑foot office building; Updated interior layout with reception area and five private offices; Cubicle workspaces provide an open office component
