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Cordova Square Office Building

721 Government St, Baton Rouge, LA 70802

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For Sale

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Office building for sale with investment or owner-occupant potential.

Type:Office

Property size:

19,757 SF

Price / SF:

$120/SF

HighLights

Substantial Price Reduction: $375,000 reduction from original price.
Prime Location on Government Street in downtown Baton Rouge, near I‑110, courthouses, and City Hall.
Ample Parking: 63 private and gated off‑street parking spaces.
Investment or Owner‑Occupant Opportunity.
Perry Dampf (attorneys) occupy the full second floor, providing stable tenancy.
First and Third floors available, in whole or in part, with first floor suitable for retail/service.

We can help!

Listing Contact

Scot Guidry

For Sale

Contact for pricing

Office building for sale with investment or owner-occupant potential.

Type:Office

Property size:

19,757 SF

Price / SF:

$120/SF

Added:: Dec 27, 2023
Days on Market:: 898
Last Refresh:: May 12 at 9:44 pm

Property Features for 721 Government St

General Information

Standard status: Active
Size: 19,757 SF
Property subtype: Office

We can help!

Listing Contact

Scot Guidry

Listing agent Scot Guidry License #LA 37589

Listing office Derbes Falgoust Commercial Real Estate

Listing date Dec 27, 2023

Source Crexi

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 Derbes Falgoust Commercial Real Estate

HighLights

Substantial Price Reduction: $375,000 reduction from original price.
Prime Location on Government Street in downtown Baton Rouge, near I‑110, courthouses, and City Hall.
Ample Parking: 63 private and gated off‑street parking spaces.
Investment or Owner‑Occupant Opportunity.
Perry Dampf (attorneys) occupy the full second floor, providing stable tenancy.
First and Third floors available, in whole or in part, with first floor suitable for retail/service.

Overview

Cordova Square, situated at 721 Government Street in Baton Rouge, Louisiana, is available for purchase, presenting an opportunity for either an owner-occupant or an investor. The property includes 63 on-site private and gated off-street parking spaces. It features frontage on both Government and Spain Streets, with curbside delivery access available on Government Street. The first floor offers space suitable for a retail or service tenant or user. The location is approximately 4 blocks from the I-110 on/off ramp, 5 blocks from the 19th JDC Clerk of Court/Court House, Baton Rouge City Court, and City Hall, and within 6 blocks of the Federal Courthouse. Perry Dampf (attorneys) occupies the entire second floor. The first and third floors are available in full or in part. Prater Bailey - McCormick - Cazayoux lease part of the 1st floor. Vacant units are available for lease at $22.50 per square foot, full service. The building has a total size of 19757 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$258.4k	$13.08
− Vacancy	−$6.5k	−$0.33
EGI	$252.0k	$12.75
− OpEx	−$63.0k	−$3.19
NOI	$189.0k	$9.56

19,757 SF · lease $13.08/SF/yr · vacancy 2.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$2.70M

$2.36M – $3.15M (±1% cap)

NOI $188,971 @ 7.0% cap · market cap 7.96%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$4.73M

$4.14M – $5.52M (±1% cap)

NOI $331,214 @ 7.0% cap · market cap 13.95%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Perry Dampf Dispute ... Mediation Service CREATIVE RUBBER Corporate Office The Law Office of Kaila ... Law Firm Baton Rouge Seamless ... Hardware & Home Improvement Southern Dock Products Building Supply

Suggested Use

Location Insight

Map
Local Demand

City: Baton Rouge
County: East Baton Rouge
State: Louisiana
Longitude: -91.1832707
Latitude: 30.4437244

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For sale
Office buildings
LA
Baton Rouge
70802
721 Government St

What type of property is this?

Office building - Office building for sale with investment or owner-occupant potential.

Where is this office building located?

The property is located at 721 Government St Baton Rouge, LA.

What is the asking price?

The asking price for this property is $2,375,000.

What are key features of this property?

This property features: Substantial Price Reduction: $375,000 reduction from original price.; Prime Location on Government Street in downtown Baton Rouge, near I‑110, courthouses, and City Hall.; Ample Parking: 63 private and gated off‑street parking spaces.