Historic Downtown Office Building For
For Sale
$3,294,080
618 Main St, Baton Rouge, LA 70801
Historic office building with parking lot in Downtown Baton Rouge.
Property Size16,492 SF
Price / SF$199.74
Days on Market1162
Property Features for 618 Main St
General Information
Standard status
Active
Size
16,492 SF
Property subtype
Office
Zoning
C5
Listing Agency:
Elifin Realty
Listed By:
Fabian Edwards
(985) 974-8301
Source:
Lacdb.resimplifi
Added: Aug 2, 2023
Changed: Oct 2
Last Checked: Oct 5 at 3:03PM
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
Investment Insights
Based on property information with market context.
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.
Key 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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$258,046
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,160,920
$5.2M
Cap Rate 7%
$3,686,371
$3.7M
Cap Rate 9%
$2,867,178
$2.9M
Market Conditions
NOI Build-Up for 16,492 SF
Gross rent
$370.1K $22.44/SF
− Vacancy
−$1.4K −$0.09/SF
EGI
$368.6K $22.35/SF
− OpEx
−$110.6K −$6.71/SF
NOI
$258.0K $15.65/SF
Area
Baton Rouge, LA
Vacancy
0.39%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,160,920
Cap Rate 7%
$3,686,371
Cap Rate 9%
$2,867,178
Alternative Uses
Best Use
Retail
$3.69M
$3.23M – $4.30M
NOI $258,046 @ 7.0% cap · market cap 7.83%
Second Best
Office B
$2.25M
$1.97M – $2.63M
NOI $157,742 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,478 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,600
Businesses Nearby
Explore this area
Business Placement
Demographics for 70801, LA
340
Population
240
Households
1.4
Avg Household Size
40
Median Age
70%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
3,400
Density / Sq Mi
$112,787
Median Household Income
$103,750
Median Earnings
$1,679
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
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).
