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    721 Government St Baton Rouge, LA 70802

    Sponsored
    For Sale
    $2,750,000

    Prime Baton Rouge Office, Value-Add Opportunity

    Property size:
    19,757 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    Cordova Square, a three-story, Class B office building at 721 Government Street in Baton Rouge, Louisiana, is offered for sale at $2,750,000. This 19,757 square foot building presents a compelling value-add investment opportunity, currently 56% occupied. The property boasts 63 private, gated parking spaces and benefits from high visibility frontage on Government and Spain Streets, with curbside delivery available on Government Street. Its strategic location offers exceptional access, situated just four blocks from the I-110 on/off ramp and within walking distance of the 19th JDC Clerk of Court/Court House, Baton Rouge City Court, City Hall, and the Federal Courthouse. Current tenants include established businesses such as Perry Dampf (attorneys), Janet Parker (court reporters), and Stanley Consultants (engineering). First-floor space is ideal for retail or service tenants. Vacant units are available for lease at $22.50 per square foot, full-service. Renovated in 2006, this property offers significant potential for an owner-occupant seeking an income stream or an investor looking to capitalize on a partially leased asset with strong upside potential. The building's prime location, existing tenant base, and available space create a unique opportunity for growth and long-term value appreciation. The property's features and location make it an attractive investment for both owner-occupants and investors seeking a stable income stream with potential for future expansion.

    Property Features for 721 Government St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    19,757 SF
    Class
    B

    Building Details

    Year Renovated
    2006
    Buildings
    1
    Stories
    3

    We can help!

    Listing Contact
    Scot Guidry
    Scot Guidry

    Learn more

    Property Insight Report

    HighLights

    • Owner‑occupied office space with 56% occupancy generating immediate income.
    • Partially leased, providing a stable income stream and equity growth.
    • Offers flexibility to accommodate business expansion.
    • Potential for capital appreciation and tax advantages (interest and depreciation deductions).
    • Customization options to meet specific business needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Perry Dampf Dispute ... Mediation Service CREATIVE RUBBER Corporate Office The Law Office of Kaila ... Law Firm Baton Rouge Seamless ... Gutter Cleaning Service Southern Dock Products Industrial Door Supplier

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Baton Rouge
    County
    East Baton Rouge Parish
    State
    Louisiana
    Longitude
    -91.1833418
    Latitude
    30.4437015

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    FAQs

    What type of property is this?
    Office Property Space - Prime Baton Rouge Office, Value-Add Opportunity
    Where is this office property space located?
    The property is located at 721 Government St Baton Rouge, LA.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Owner-occupied office space with 56% occupancy generating immediate income.; Partially leased, providing a stable income stream and equity growth.; Offers flexibility to accommodate business expansion.
    (225) 778-5858
    Request Owner's contact information
    721 Government St Baton Rouge, LA 70802
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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
    721 Government St Baton Rouge, LA 70802
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    We can help!
    Listing Contact
    Scot Guidry
    Scot Guidry
    Real Estate License ID: LA 37589
    (225) 778-5858
    Learn more
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