Renovated Office in Park-Like
For Sale
Contact for pricing
10621 N Oak Hills Pkwy, Baton Rouge, LA 70810
Recently renovated office building for sale in a serene setting.
Property Size3,005 SF
Price / SF$216.31
Days on Market743
Property Features for 10621 N Oak Hills Pkwy
General Information
Standard status
Active
Size
3,005 SF
Class
A
Property subtype
Office
Zoning
C
Occupancy
50%
Lease Type
Modified Gross
Building Details
Year Built
1990
Year Renovated
2024
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Saurage Rotenberg Commercial Real Estate
Listed By:
Mike Stinson, CCIM · License #LA SALE.0000071948-ACT
Source:
Crexi
Added: Aug 23, 2024
Changed: Aug 18
Last Checked: Aug 31 at 10:18PM
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
Investment Insights
Based on property information with market context.
This recently renovated office building is available for sale. It is situated in a quiet, serene, park-like setting off Bluebonnet Blvd. The current tenant is a national engineering and consulting firm. A three-year primary term was recently executed, including one three-year option period with annual 2% increases. The property size is 3,005 square feet.
Key Highlights
- Tenant is a national engineering/consulting firm.
- Recently executed 3 yr. primary term with one 3 yr. option period with annual 2% increases.
- Recently Renovated Office.**
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
$28,742
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
4.42%
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%
$574,840
$574.8K
Cap Rate 7%
$410,600
$410.6K
Cap Rate 9%
$319,356
$319.4K
Market Conditions
NOI Build-Up for 3,005 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
$39.3K $13.08/SF
− Vacancy
−$983 −$0.33/SF
EGI
$38.3K $12.75/SF
− OpEx
−$9.6K −$3.19/SF
NOI
$28.7K $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%
$574,840
Cap Rate 7%
$410,600
Cap Rate 9%
$319,356
Alternative Uses
Best Use
Office B
$410.6K
$359.3K – $479.0K
NOI $28,742 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$719.7K
$629.7K – $839.6K
NOI $50,377 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 70810, LA
42,472
Population
19,195
Households
2.2
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
26.2 sq mi
ZIP Area
1,621
Density / Sq Mi
$93,712
Median Household Income
$52,510
Median Earnings
$1,406
Median Rent
$353,100
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 - Recently renovated office building for sale in a serene setting.
Where is this office building located?
The property is located at 10621 N Oak Hills Pkwy Baton Rouge, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Tenant is a national engineering/consulting firm.; Recently executed 3 yr. primary term with one 3 yr. option period with annual 2% increases.; Recently Renovated Office.**
