Renovated First-Floor Office
For Sale
$425,000
7423 Picardy Ave., Baton Rouge, LA 70808
Configured with reception, private offices, restrooms, a kitchenette, and ample parking.
Property Size3,000 SF
Price / SF$141.67
Days on Market376
Property Features for 7423 Picardy Ave.
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Additional Details
Floor
First Floor
Gross Income
$24,000
Highway Access
Yes
Office Units
2
Amenities
Reception/Lobby
Private Offices
2 Restrooms
Kitchenette
ADA Compliant
Building Details
Tenancy
Multiple Tenants
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
(610) 563-9046
Listed By:
Jack Herrington · License #SALE.0995693154-ACT
(610) 563-9046
Source:
Lacdb.resimplifi
Added: Aug 21, 2025
Changed: Aug 28
Last Checked: Aug 30 at 1:51PM
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 Saurage Rotenberg Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This renovated office condominium offering includes two first-floor suites totaling approximately 3,000 SF. Suite B contains approximately 2,000 SF and is identified as available, while Suite C contains approximately 1,000 SF and is identified as leased through 4/30/2031. The layout includes a reception and lobby area, private offices, two restrooms, and a kitchenette. The property is ADA compliant and provides ample parking.
The office units occupy the hard corner of Picardy Ave. and Dijon Dr. at 7423 Picardy Ave. in Baton Rouge. The surrounding medical context includes Ochsner, Baton Rouge General, Our Lady of the Lake, Mary Bird Perkins Cancer Center, and Our Lady of the Lake Children's Hospital. Enhanced access is available from the Bluebonnet Blvd. road serving Our Lady of the Lake Children's Hospital, with interstate connectivity to I-10 and I-12 via Essen Lane.
The office units occupy the hard corner of Picardy Ave. and Dijon Dr. at 7423 Picardy Ave. in Baton Rouge. The surrounding medical context includes Ochsner, Baton Rouge General, Our Lady of the Lake, Mary Bird Perkins Cancer Center, and Our Lady of the Lake Children's Hospital. Enhanced access is available from the Bluebonnet Blvd. road serving Our Lady of the Lake Children's Hospital, with interstate connectivity to I-10 and I-12 via Essen Lane.
Key Highlights
- Two first‑floor office condo suites totaling +/- 3,000 SF
- Suite B: +/- 2,000 SF and identified as available
- Suite C: +/- 1,000 SF; leased through 4/30/2031
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
$28,879
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
6.80%
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%
$577,580
$577.6K
Cap Rate 7%
$412,557
$412.6K
Cap Rate 9%
$320,878
$320.9K
Market Conditions
NOI Build-Up for 3,000 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
$50.4K $16.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$48.1K $16.04/SF
− OpEx
−$19.3K −$6.42/SF
NOI
$28.9K $9.63/SF
Area
Baton Rouge, LA
Vacancy
4.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
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%
$577,580
Cap Rate 7%
$412,557
Cap Rate 9%
$320,878
Alternative Uses
Best Use
Healthcare Medical
$412.6K
$361.0K – $481.3K
NOI $28,879 @ 7.0% cap · market cap 6.80%
Second Best
Office B
$409.9K
$358.7K – $478.2K
NOI $28,694 @ 7.0% cap · market cap 6.75%
Theoretical Best
Specialty Retail
$718.5K
$628.7K – $838.2K
NOI $50,293 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,532
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, private offices, restrooms, a kitchenette, and ample parking.
Where is this office units located?
The property is located at 7423 Picardy Ave. Baton Rouge, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two first‑floor office condo suites totaling +/- 3,000 SF; Suite B: +/- 2,000 SF and identified as available; Suite C: +/- 1,000 SF; leased through 4/30/2031
