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    721 Government St Baton Rouge, LA 70802

    Sponsored
    For Lease
    $22 SF/Yr

    Prestigious office space available. Prime location.

    Lot size:
    19,757 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    Cordova Square, a 19,757 square foot executive office building at 721 Government Street in Baton Rouge, Louisiana, offers multiple leasing opportunities. Spaces range from 1,430 to 3,862 square feet, with 8,674 square feet currently vacant. The building boasts 63 private, gated parking spaces and enjoys prominent frontage on Government and Spain Streets, with convenient curbside delivery access on Government Street. Its strategic location provides easy access to major thoroughfares, being just four blocks from the I-110 on/off ramp. Furthermore, it's within a five-block radius of the 19th JDC Clerk of Court/Court House, Baton Rouge City Court, and City Hall, and within six blocks of the Federal Courthouse. This makes it an ideal location for legal, professional, or government-related businesses. Current tenants include established firms such as Perry Dampf (attorneys), Janet Parker (court reporters), and Stanley Consultants (engineering). First-floor space is also available, suitable for retail or service tenants. The entire building is also available for purchase at $2,750,000.

    Property Features for 721 Government St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    19,757 SF
    Total Rate
    37044.38

    Spaces For Lease

    at 721 Government St, Baton Rouge, LA 70802 Contact us
    Unit 103

    $22 /Mo

    Size
    1,430 SF
    Contact us
    Unit 301

    $22 /Mo

    Size
    3,382 SF
    Contact us
    Unit 102

    $22 /Mo

    Size
    3,862 SF
    Contact us

    We can help!

    Listing Contact
    Scot Guidry
    Scot Guidry

    Learn more

    Property Insight Report

    HighLights

    • 19,757 SF executive office building in Baton Rouge, LA with multiple leasing opportunities.
    • Available spaces range from 1,430 SF to 3,862 SF, with 8,674 SF currently vacant.
    • Features 63 gated parking spaces and prominent frontage on Government and Spain Streets with convenient curbside delivery.
    • Excellent location: four blocks from I‑110, near courthouses and City Hall.
    • First‑floor space ideal for retail or service tenants; entire building available for purchase at $2,750,000.
    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 ... Hardware & Home Improvement Southern Dock Products Building Supply

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    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
    -91.183333068571
    Latitude
    30.443948950078

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious office space available. Prime location.
    Where is this office property / space located?
    The property is located at 721 Government St Baton Rouge, LA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 19,757 SF executive office building in Baton Rouge, LA with multiple leasing opportunities.; Available spaces range from 1,430 SF to 3,862 SF, with 8,674 SF currently vacant.; Features 63 gated parking spaces and prominent frontage on Government and Spain Streets with convenient curbside delivery.
    (225) 778-5858
    Request Owner's contact information
    721 Government St Baton Rouge, LA 70802
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    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: 37589
    (225) 778-5858
    Learn more
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