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Building Details

Year Renovated 2021

Buildings 3

Listing Agency: CBRE Baton Rouge

Listed By: Michael Cashio · License #SALE.0995688631-ACT Show Phone

Source: Lacdb.resimplifi

Added: Jun 24, 2025 Changed: Oct 2 Last Checked: Oct 14 at 7:33PM

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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 CBRE Baton Rouge

Investment Insights

Based on property information with market context.

This flex property comprises approximately 33,000 SF across three freestanding buildings. Building 1 contains approximately 3,000 SF of office space renovated in 2021, with six offices, three restrooms, a kitchen, conference room, lobby, and open work area. Buildings 2 and 3 provide approximately 20,000 SF and 10,000 SF of warehouse space, respectively, with two large drive-in doors in each building.

The property at 702 E Airline Hwy in Gramercy is positioned near Veterans Memorial Bridge, providing access between industrial areas on both banks of the Mississippi River and the Baton Rouge and New Orleans MSAs. Electrical service includes 3-phase power at 480V, with capacity to increase the load to 2.5MW. Short-term leases are in place for Buildings 1 and 2. A separate 2.5-acre industrial-zoned lot is also available for lease.

Key Highlights

• Approximately 33,000 SF across three freestanding buildings
• Approximately 3,000 SF of office space renovated in 2021
• Approximately 20,000 SF warehouse with two large drive‑in doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$197,505

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,950,100 $4.0M

Cap Rate 7%

$2,821,500 $2.8M

Cap Rate 9%

$2,194,500 $2.2M

What to ask about pricing

Market Conditions

NOI Build-Up for 33,000 SF

Gross rent

$297.0K $9.00/SF

− Vacancy

−$14.9K −$0.45/SF

EGI

$282.2K $8.55/SF

− OpEx

−$84.6K −$2.56/SF

NOI

$197.5K $5.98/SF

Area

St. James County, LA

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,950,100

Cap Rate 7%

$2,821,500

Cap Rate 9%

$2,194,500

Alternative Uses

Best Use

Office B

$6.54M

$5.72M – $7.63M (±1% cap)

NOI $457,855 @ 7.0% cap · market cap 10,174,555.56%

Second Best

Warehouse

$3.79M

$3.32M – $4.42M (±1% cap)

NOI $265,409 @ 7.0% cap · market cap 5,897,977.78%

Theoretical Best

Office A

$8.71M

$7.62M – $10.16M (±1% cap)

NOI $609,444 @ 7.0% cap · market cap 13,543,200.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Performance Plastics Factory

Suggested Use

Top Pick Building Supply Auto Repair Shop Dental Office HVAC Service Hair Salon Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Drive-in doors

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70052, LA

3,162

Population

1,192

Households

2.7

Avg Household Size

42

Median Age

17%

College-Educated

89%

High-School Grad

7.7 sq mi

ZIP Area

411

Density / Sq Mi

$66,950

Median Household Income

$40,208

Median Earnings

$1,293

Median Rent

$211,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Three freestanding buildings combine renovated offices with substantial warehouse capacity and drive-in access.

Where is this flex space located?

The property is located at 702 E Airline Hwy Gramercy, LA.

What are key features of this property?

This property features: Approximately 33,000 SF across three freestanding buildings; Approximately 3,000 SF of office space renovated in 2021; Approximately 20,000 SF warehouse with two large drive‑in doors