Flex Space with Private
For Sale
$795,000
3820 Hwy 28 W, Alexandria, LA 71303
Commercial Sale, Alexandria, LA
Property Size3,450 SF
Lot Size0.35 Acres
Price / SF$230.43
Days on Market72
Property Features for 3820 Hwy 28 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Security features
Security System
Subdivision
Georgetown
Standard status
Active
APN
2403003426000501
Size
3,450 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3650
Utilities
Heating system
Electric (Heating), Forced Air
Water source
Public
Amenities
Boardroom
Kitchen
Building Details
Year built
1993
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Stucco
Listing Agency:
Louisiana Lagniappe Realty LLC
(318) 448-4400
Listed By:
Jon Norman · License #GCLRA:0000075104
(318) 730-1957
Added: Jun 23
Changed: Aug 31
Last Checked: Sep 2 at 9:06AM
MLS# 11852315
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,450-square-foot flex space occupies a 0.35-acre lot at 3820 Hwy 28 W in Alexandria. The 1993 building combines broad open areas with separate offices, a boardroom, kitchen, storage capacity, and two bathrooms. Tile and carpet flooring are installed throughout, with electric forced-air heating and public water service.
Private parking and building signage support day-to-day business operations. The property is constructed with stucco and offers a flexible interior that can accommodate open workspace, offices, storage, or a combination of these functions.
Private parking and building signage support day-to-day business operations. The property is constructed with stucco and offers a flexible interior that can accommodate open workspace, offices, storage, or a combination of these functions.
Key Highlights
- 3,450‑square‑foot flex space on a 0.35‑acre lot
- Separate offices, boardroom, kitchen, storage, and two bathrooms
- Private parking and building signage on Hwy 28 W
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
$48,438
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
6.09%
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%
$968,760
$968.8K
Cap Rate 7%
$691,971
$692.0K
Cap Rate 9%
$538,200
$538.2K
Market Conditions
NOI Build-Up for 3,450 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
$82.8K $24.00/SF
− Vacancy
−$18.2K −$5.28/SF
EGI
$64.6K $18.72/SF
− OpEx
−$16.1K −$4.68/SF
NOI
$48.4K $14.04/SF
Area
Rapides County, LA
Vacancy
22.00%
Lease Rate
$24.00 /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%
$968,760
Cap Rate 7%
$691,971
Cap Rate 9%
$538,200
Alternative Uses
Best Use
Office B
$692.0K
$605.5K – $807.3K
NOI $48,438 @ 7.0% cap · market cap 6.09%
Second Best
Flex RnD
$312.7K
$273.6K – $364.8K
NOI $21,889 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$951.0K
$832.1K – $1.11M
NOI $66,571 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71303, LA
22,797
Population
10,388
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
87%
High-School Grad
63.4 sq mi
ZIP Area
360
Density / Sq Mi
$66,761
Median Household Income
$40,687
Median Earnings
$1,115
Median Rent
$232,900
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 - Open-plan commercial space includes offices, a boardroom, kitchen, storage, and two bathrooms.
Where is this flex space located?
The property is located at 3820 Hwy 28 W Alexandria, LA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3,450‑square‑foot flex space on a 0.35‑acre lot; Separate offices, boardroom, kitchen, storage, and two bathrooms; Private parking and building signage on Hwy 28 W
