Office Unit with Exposed
For Sale
$1,200,000
5936 Provine Pl, Alexandria, LA 71303
Commercially zoned office space with multiple private offices, two bathrooms, a reception area, and a dedicated break room.
Property Size3,580 SF
Price / SF$335.20
Days on Market409
Property Features for 5936 Provine Pl
General Information
Standard status
Active
Size
3,580 SF
Class
A
Total Parking Spaces
18
Property subtype
Office
Zoning
commercial
Amenities
Power
Water
Sewer
Vacant
18 Parking Spaces
Building Details
Year Built
2025
Construction
brick & beam
Listing Agency:
Ritchie Real Estate
(318) 709-6288
Listed By:
Matt Ritchie · License #13779
(318) 709-6288
Source:
Lacdb.resimplifi
Added: Jul 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:06AM
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 Ritchie Real Estate
Investment Insights
Based on property information with market context.
Built in 2025, this 3,580-square-foot office unit offers a practical layout for professional operations. The interior includes three private offices, two bathrooms, a reception area, and a break room. Exposed brick and wood beam details add character to the client-facing areas, while 10-foot ceilings provide an open interior profile.
The property is zoned commercial and is located at 5936 Provine Pl in Alexandria, Louisiana. Its combination of dedicated work areas, support spaces, and updated construction creates a cohesive office environment within a defined commercial setting.
The property is zoned commercial and is located at 5936 Provine Pl in Alexandria, Louisiana. Its combination of dedicated work areas, support spaces, and updated construction creates a cohesive office environment within a defined commercial setting.
Key Highlights
- 3,580 SF office unit built in 2025
- Three private offices and two bathrooms
- Reception area with exposed brick and wood beam details
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
$50,263
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
4.19%
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%
$1,005,260
$1.0M
Cap Rate 7%
$718,043
$718.0K
Cap Rate 9%
$558,478
$558.5K
Market Conditions
NOI Build-Up for 3,580 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
$85.9K $24.00/SF
− Vacancy
−$18.9K −$5.28/SF
EGI
$67.0K $18.72/SF
− OpEx
−$16.8K −$4.68/SF
NOI
$50.3K $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%
$1,005,260
Cap Rate 7%
$718,043
Cap Rate 9%
$558,478
Alternative Uses
Best Use
Office B
$718.0K
$628.3K – $837.7K
NOI $50,263 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$986.9K
$863.5K – $1.15M
NOI $69,080 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
367
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 units - Commercially zoned office space with multiple private offices, two bathrooms, a reception area, and a dedicated break room.
Where is this office units located?
The property is located at 5936 Provine Pl Alexandria, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,580 SF office unit built in 2025; Three private offices and two bathrooms; Reception area with exposed brick and wood beam details
