Kenilworth Plaza Mixed-Use
For Sale
$2,795,000
7384-7388 HIGHLAND RD, Baton Rouge, LA 70808
Renovated complex combining office and retail space with established tenant occupancy.
Property Size21,881 SF
Lot Size2.00 Acres
Price / SF$127.74
Days on Market529
Property Features for 7384-7388 HIGHLAND RD
General Information
Standard status
Active
Size
21,881 SF
Total Parking Spaces
55
Lot size
2.00 Acres
Property subtype
Investment
Zoning
C1
Site & Location
Anchor Co-Tenants
Grace Yoga
Road Access
Yes
Building Details
Year Built
1982
Year Renovated
2020
Buildings
3
Tenancy
Multi
Listing Agency:
CBRE Baton Rouge
(225) 952-1255
Listed By:
Michael Cashio · License #SALE.0995688631-ACT
(225) 952-1255
Source:
Lacdb.resimplifi
Added: Mar 19, 2025
Changed: Aug 28
Last Checked: Aug 28 at 6:50AM
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.
Kenilworth Plaza is a mixed-use property comprising three buildings with a combined 21,881 square feet on 2 acres. The complex includes both office and retail occupancy, with some tenants reported to have remained in place for more than 25 years. A principal tenant occupies approximately 4,800 square feet. The property underwent renovation in 2020 and includes parking distributed in front of and behind the buildings, totaling 55 spaces.
The property is located on Highland Road across from the Kenilworth Neighborhood, Superior Grill, Matherne's Market, and Max Fitness. C1 zoning is reported for the site. Floorplans are available upon request, and showings are to be coordinated through the agents without disturbing tenants.
The property is located on Highland Road across from the Kenilworth Neighborhood, Superior Grill, Matherne's Market, and Max Fitness. C1 zoning is reported for the site. Floorplans are available upon request, and showings are to be coordinated through the agents without disturbing tenants.
Key Highlights
- Three‑building mixed‑use property totaling ± 21,881 SF on 2 acres
- Office and retail tenant mix, with some occupants in place for more than 25+ years
- Principal tenant leases ±4,800 SF
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
$209,286
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
7.49%
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%
$4,185,720
$4.2M
Cap Rate 7%
$2,989,800
$3.0M
Cap Rate 9%
$2,325,400
$2.3M
Market Conditions
NOI Build-Up for 21,881 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
$286.2K $13.08/SF
− Vacancy
−$7.2K −$0.33/SF
EGI
$279.0K $12.75/SF
− OpEx
−$69.8K −$3.19/SF
NOI
$209.3K $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%
$4,185,720
Cap Rate 7%
$2,989,800
Cap Rate 9%
$2,325,400
Alternative Uses
Best Use
Retail
$4.89M
$4.28M – $5.71M
NOI $342,366 @ 7.0% cap · market cap 12.25%
Second Best
Office B
$2.99M
$2.62M – $3.49M
NOI $209,286 @ 7.0% cap · market cap 7.49%
Theoretical Best
Specialty Retail
$5.24M
$4.59M – $6.11M
NOI $366,821 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 70808, LA
32,510
Population
18,833
Households
1.7
Avg Household Size
35
Median Age
65%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
2,709
Density / Sq Mi
$69,078
Median Household Income
$41,162
Median Earnings
$1,283
Median Rent
$392,600
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?
Mixed-use property - Renovated complex combining office and retail space with established tenant occupancy.
Where is this mixed-use property located?
The property is located at 7384-7388 HIGHLAND RD Baton Rouge, LA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Three‑building mixed‑use property totaling ± 21,881 SF on 2 acres; Office and retail tenant mix, with some occupants in place for more than 25+ years; Principal tenant leases ±4,800 SF
