Historic Downtown Office Building For Sale

618 Main St, Baton Rouge, LA 70801

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For Sale

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Historic office building with parking lot in Downtown Baton Rouge.

Type:Office

Property size:

16,492 SF

Price / SF:

$199/SF

HighLights

Located in the heart of Downtown Baton Rouge.
Includes a rare, private, off‑street parking lot (±8,192 SF).
Existing income from tenants, including a leaseback from the current owner (±8,087 RSF).
Opportunity for owner‑occupant to offset expenses with existing income.
Anchored by a prominent Louisiana law firm, Palmintier Law Group, founded in 1975.
Close proximity (4 blocks) to the Louisiana State Capitol grounds.

We can help!

Contact an agent

Fabian Edwards

For Sale

Contact for pricing

Historic office building with parking lot in Downtown Baton Rouge.

Type:Office

Property size:

16,492 SF

Price / SF:

$199/SF

Added:: Sep 20, 2023
Days on Market:: 1022
Last Refresh:: Jul 4 at 10:20 pm

Property Features for 618 Main St

General Information

Standard status: Active
Size: 16,492 SF
Property subtype: Office

Building Details

Year Built: 1975

We can help!

Contact an agent

Fabian Edwards

Listing office Elifin Realty Baton Rouge

Listing date Sep 20, 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 Elifin Realty Baton Rouge

HighLights

Located in the heart of Downtown Baton Rouge.
Includes a rare, private, off‑street parking lot (±8,192 SF).
Existing income from tenants, including a leaseback from the current owner (±8,087 RSF).
Opportunity for owner‑occupant to offset expenses with existing income.
Anchored by a prominent Louisiana law firm, Palmintier Law Group, founded in 1975.
Close proximity (4 blocks) to the Louisiana State Capitol grounds.

Overview

Located in the heart of Downtown Baton Rouge, 618 Main Street is a historic office building available for sale. The property is currently occupied by three tenants, and the current owner will lease back approximately 8,087 rentable square feet upon sale, leaving approximately 5,226 rentable square feet available. The property is anchored by the Palmintier Law Group, a Louisiana law firm founded in 1975. Situated on Main Street, the building is located four blocks from the Louisiana State Capitol grounds. A private, off-street parking lot measuring approximately 8,192 square feet is included with the property. The property offers an opportunity for an owner occupant to utilize the building’s existing income to offset expenses, or for an investor to capitalize on the property’s features and bring it to full occupancy. The building has a total size of 16,492 square feet.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$370.1k	$22.44
− Vacancy	−$1.4k	−$0.09
EGI	$368.6k	$22.35
− OpEx	−$110.6k	−$6.71
NOI	$258.0k	$15.65

16,492 SF · lease $22.44/SF/yr · vacancy 0.39% · expense 30.00%

Alternative Uses

Best Use

Retail

$3.69M

$3.23M – $4.30M (±1% cap)

NOI $258,046 @ 7.0% cap · market cap 7.83%

Second Best

Office B

$2.25M

$1.97M – $2.63M (±1% cap)

NOI $157,742 @ 7.0% cap · market cap 4.79%

Theoretical Best

Specialty Retail

$3.95M

$3.46M – $4.61M (±1% cap)

NOI $276,478 @ 7.0% cap · market cap 8.39%

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

Property Profile Location Intelligence

Current Use by Public Records

My Doctor's House Medical Clinic MGA Crisis Intervention Medical Clinic Palmintier Law Group ... Law Firm Capello Group Architect Joshua M. Palmintier Law Firm

Suggested Use

Location Insight

Map
Local Demand

City: Baton Rouge
County: East Baton Rouge
State: Louisiana
Longitude: -91.184359
Latitude: 30.4514411

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For sale
Office buildings
LA
Baton Rouge
70801
618 Main St

What type of property is this?

Office building - Historic office building with parking lot in Downtown Baton Rouge.

Where is this office building located?

The property is located at 618 Main St Baton Rouge, LA.

What is the asking price?

The asking price for this property is $3,294,080.

What are key features of this property?

This property features: Located in the heart of Downtown Baton Rouge.; Includes a rare, **private, off‑street parking lot (±8,192 SF)**.; Existing income from tenants, including a leaseback from the current owner (±8,087 RSF).