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    631 Milam St Shreveport, LA 71101

    Sponsored
    For Lease
    $9 SF/Yr ($7,921 /Mo)

    10,276 SF Medical Office Building, 7,060 SF Available

    Lot size:
    10,276 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    425
    This exceptional Class A medical office building, the Shepherd Blanchard Building, presents a unique investment opportunity in the heart of Shreveport, Louisiana. Built in 1901 and extensively renovated in 1998, this three-story building offers 10,276 square feet of space, with 7,060 square feet currently available for lease. The building is situated at the prominent corner of Milam Street and Louisiana Avenue, just one block from the Caddo Parish courthouse, ensuring high visibility and convenient access. Multiple suites are available, ranging from a minimum of 1,259 square feet to a maximum contiguous space of 2,905 square feet. The building features one passenger elevator and ample parking for 50 vehicles (additional charge applies). All utilities and in-suite janitorial services are included in the rent. The property is zoned B-1 and boasts a Caddo Parish County APN of 181437177000100. This is a rare opportunity to acquire a beautifully renovated historic building in a prime downtown location, ideal for medical practices seeking a prestigious and convenient address. The building's location and included amenities make it an attractive option for a variety of medical tenants.

    Property Features for 631 Milam St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,276 SF
    Class
    A
    Total Rate
    7921.08

    Building Details

    Year Built/Renovated
    1901/1998
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 631 Milam St, Shreveport, LA 71101 Contact us
    Unit 202

    $9 /Mo

    Size
    1,044 SF
    Contact us
    Unit 203

    $9 /Mo

    Size
    1,044 SF
    Contact us
    Unit Suite 101 -1st Floor Corner Suite

    $10 /Mo

    Size
    1,608 SF
    Contact us
    Unit Suite 101

    $10 /Mo

    Size
    1,608 SF
    Contact us
    Unit 103

    $9 /Mo

    Size
    710 SF
    Contact us
    Unit 301

    $9 /Mo

    Size
    2,896 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Chris Stokes
    Chris Stokes

    Learn more

    Property Insight Report

    HighLights

    • Ample parking in two on‑site lots, one directly adjacent to the building.
    • Excellent walkability to numerous restaurants including Rhino's Coffee, Parish Taceaux, Abby Singer Bistro, Crystal Stairs, and Missing Link.
    • Prime location just one block from the Caddo Parish Courthouse and a high concentration of loft apartments including 624 Lofts and the Strand Theater.
    Property Profile Location Intelligence

    Current Use by Public Records

    Audrius M. Reed, ... Law Firm COE Architecture International Architect Strategic Action Council Consultant Dentist Dental Office

    Suggested Use

    Real Estate Agency Dental Office Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Shreveport
    County
    Caddo Parish
    State
    Louisiana
    Longitude
    -93.7504522
    Latitude
    32.5106077

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    FAQs

    What type of property is this?
    Medical office - 10,276 SF Medical Office Building, 7,060 SF Available
    Where is this medical office located?
    The property is located at 631 Milam St Shreveport, LA.
    What is the lease rate?
    The lease rate is $9-$10 SF/Yr.
    What are key features of this property?
    This property features: Ample parking in two on-site lots, one directly adjacent to the building.; Excellent walkability to numerous restaurants including Rhino's Coffee, Parish Taceaux, Abby Singer Bistro, Crystal Stairs, and Missing Link.; Prime location just one block from the Caddo Parish Courthouse and a high concentration of loft apartments including 624 Lofts and the Strand Theater.
    (318) 222-2022
    Request Owner's contact information
    631 Milam St Shreveport, LA 71101
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    Shreveport, LA 71101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    631 Milam St Shreveport, LA 71101
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    We can help!
    Listing Contact
    Chris Stokes
    Chris Stokes
    Real Estate License ID: 7535
    (318) 222-2022
    Learn more
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