Versatile Mid-City Office
For Sale
Contact for pricing
Pending
3950 3968 3978 North Blvd, Baton Rouge, LA 70806
Income-producing office buildings with parking in the heart of Mid-City.
Property Size7,222 SF
Days on Market705
Property Features for 3950 3968 3978 North Blvd
General Information
Standard status
Pending
Size
7,222 SF
Class
B
Property subtype
Land, Mixed Use, Office, Special Purpose
Zoning
B1 and LC2
Occupancy
25%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
Elifin Realty Baton Rouge
Listed By:
Lindsay Redhead · License #LA 0995702768
(225) 938-3148
Source:
Crexi
Added: Oct 23, 2024
Changed: Sep 18
Last Checked: Sep 26 at 6:31AM
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 Elifin Realty Baton Rouge
Investment Insights
Based on property information with market context.
Located in the heart of Mid-City, 3950, 3968, 3978 North Blvd offers a versatile office package. The sale includes three properties, but the owner may consider individual offers. 3950 North Blvd is a single-story office building with a size of approximately 1,598 square feet. It is currently leased to a daycare and generating immediate income. 3968 North Blvd is a two-story office building with updated, modern finishes, encompassing approximately 5,624 square feet. It is currently available for lease at $12 per square foot per year. The first and second floors can be leased together or individually. 3978 North Blvd is a large parking lot with a structure covering half of the area, offering ample parking for both buildings. Each property has dedicated parking. The properties are located approximately 6 minutes from I-110 and I-10, with easy access to the Airline Hwy / Florida Blvd interchange.
Key Highlights
- Income‑producing property (3950 North Blvd) provides immediate revenue stream.
- Ample parking available, including covered parking.
- Excellent location in Mid‑City with convenient access to I‑110 and I‑10.
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
$48,161
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
7.41%
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%
$963,220
$963.2K
Cap Rate 7%
$688,014
$688.0K
Cap Rate 9%
$535,122
$535.1K
Market Conditions
NOI Build-Up for 7,222 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
$70.2K $9.72/SF
− Vacancy
−$1.4K −$0.19/SF
EGI
$68.8K $9.53/SF
− OpEx
−$20.6K −$2.86/SF
NOI
$48.2K $6.67/SF
Area
Baton Rouge, LA
Vacancy
1.99%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
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%
$963,220
Cap Rate 7%
$688,014
Cap Rate 9%
$535,122
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $113,001 @ 7.0% cap · market cap 17.38%
Second Best
Office B
$986.8K
$863.5K – $1.15M
NOI $69,077 @ 7.0% cap · market cap 10.63%
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.02M
NOI $121,072 @ 7.0% cap · market cap 18.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Income-producing office buildings with parking in the heart of Mid-City.
Where is this office building located?
The property is located at 3950 3968 3978 North Blvd Baton Rouge, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Income‑producing property (3950 North Blvd) provides immediate revenue stream.; Ample parking available, including covered parking.; Excellent location in Mid‑City with convenient access to I‑110 and I‑10.
