Office Building with Open
For Sale
$925,000
660 Government St, Baton Rouge, LA 70802
C2-zoned office property with open collaborative areas, private offices, and amenities across both floors.
Property Size4,392 SF
Price / SF$210.61
Days on Market230
Property Features for 660 Government St
General Information
Standard status
Active
Size
4,392 SF
Property subtype
Office
Zoning
C2
Additional Details
Road Access
Yes
Amenities
conference room
kitchenette
Vacant
Building Details
Year Built
1976
Buildings
1
Stories
2
Building Size
4,392 SF
Construction
cinder block
Listing Agency:
Kurz & Hebert
(225) 925-0600
Listed By:
Judah Vedros
(225) 925-0600
Source:
Lacdb.resimplifi
Added: Jan 13
Changed: Aug 30
Last Checked: Aug 30 at 1:38PM
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 Kurz & Hebert
Investment Insights
Based on property information with market context.
The 4,392-square-foot office building offers a flexible arrangement of large open work areas paired with individual offices on both floors. Men’s and women’s restrooms are provided on each level, along with a conference room and kitchenette. Cinder block construction and concrete-and-metal-frame staircases serve the front and rear portions of the building.
Built in 1976, the property is located on Government Street near Downtown Baton Rouge. The building was most recently used by a law office, and the owner will consider a lease with a qualified tenant in addition to a sale. C2 zoning supports its current office configuration.
Built in 1976, the property is located on Government Street near Downtown Baton Rouge. The building was most recently used by a law office, and the owner will consider a lease with a qualified tenant in addition to a sale. C2 zoning supports its current office configuration.
Key Highlights
- 4,392 SF office building on Government Street
- Open work areas and individual offices on both floors
- Men’s and women’s restrooms located on each floor
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
$42,008
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
4.54%
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%
$840,160
$840.2K
Cap Rate 7%
$600,114
$600.1K
Cap Rate 9%
$466,756
$466.8K
Market Conditions
NOI Build-Up for 4,392 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
$57.4K $13.08/SF
− Vacancy
−$1.4K −$0.33/SF
EGI
$56.0K $12.75/SF
− OpEx
−$14.0K −$3.19/SF
NOI
$42.0K $9.56/SF
Area
Baton Rouge, LA
Vacancy
2.50%
Lease Rate
$13.08 /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%
$840,160
Cap Rate 7%
$600,114
Cap Rate 9%
$466,756
Alternative Uses
Best Use
Office B
$600.1K
$525.1K – $700.1K
NOI $42,008 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.05M
$920.4K – $1.23M
NOI $73,629 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
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 - C2-zoned office property with open collaborative areas, private offices, and amenities across both floors.
Where is this office building located?
The property is located at 660 Government St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 4,392 SF office building on Government Street; Open work areas and individual offices on both floors; Men’s and women’s restrooms located on each floor
