Multi-Use Office
For Sale
$795,000
3820 Hwy 28 West, Alexandria, LA 71303
Multi-use office building with large open areas, separate offices, a boardroom, and kitchen, plus ample private parking.
Property Size3,450 SF
Price / SF$230.43
Days on Market68
Property Features for 3820 Hwy 28 West
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Commercial Building
Amenities
Lot Size Acres: 0.35, Lot Size Square Feet: 15000
Sewer Type: Municipal
Total Taxes: $3,650, Tax Year: 2026, Percentage of Tax that is Deductable: 0
Carpet Floor, Tile Floor
Has Central AC: 1
Forced Air Heating, AC Zones: 3, Electric Heat Fuel
Sale, Sale Type: Foreclosure, Availability Date: 2026-05-07, Min Term: 3 year Months, Max Term: Negotiable Months
One Story, Ground Floor
Neighborhood Name: Georgetown, Property Township: Alexandria, Subdivision Name: George Town
Property Zone Type: 200, Above Area Square Feet: 3450, Street View
Handicap Features
2 Full Baths
Water Source: Municipal
Construction Type: Masonry - Stucco
Sprinklers, Alarm
Stucco Siding
Listing Agency:
Louisiana Lagniappe Realty LLC
(318) 730-1957
Listed By:
Jon Norman · License #GCLRA:0000075104
(318) 730-1957
Source:
Doyle-realty
Added: Jun 23
Changed: Aug 28
Last Checked: Aug 28 at 12:26PM
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 Louisiana Lagniappe Realty LLC
Investment Insights
Based on property information with market context.
This multi-use commercial office building is designed with large open spaces that can accommodate companies with multiple employees and staff. The layout also includes large separate offices, a boardroom, and a kitchen, along with a substantial amount of storage, with flexibility to divide interior space for additional needs.
The property is located at 3820 Hwy 28 West in Alexandria, Louisiana, with signage on a busy thoroughfare and ample private parking on site.
The building’s configuration is well-suited for office use, offering both collaborative open areas and more private enclosed rooms for meetings and administration.
The property is located at 3820 Hwy 28 West in Alexandria, Louisiana, with signage on a busy thoroughfare and ample private parking on site.
The building’s configuration is well-suited for office use, offering both collaborative open areas and more private enclosed rooms for meetings and administration.
Key Highlights
- Multi‑use commercial building with large open spaces for accommodating a company with many employees and staff
- Features large separate offices, a boardroom, and a kitchen
- Includes plenty of storage space, with potential to divide the building for additional needs
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
—
—
no second resolved use
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
125
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Multi-use office building with large open areas, separate offices, a boardroom, and kitchen, plus ample private parking.
Where is this office building located?
The property is located at 3820 Hwy 28 West 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: Multi‑use commercial building with large open spaces for accommodating a company with many employees and staff; Features large separate offices, a boardroom, and a kitchen; Includes plenty of storage space, with potential to divide the building for additional needs
