Mid-City Redevelopment
For Sale
Contact for pricing
2008 & 1952 North St., Baton Rouge, LA 70802
Historic buildings on 1.87 acres in Baton Rouge's Mid-City.
Property Size6,800 SF
Lot Size1.87 Acres
Price / SF$157.48
Days on Market2142
Property Features for 2008 & 1952 North St.
General Information
Standard status
Active
Size
6,800 SF
Lot size
1.87 Acres
Property subtype
Retail
Zoning
C-2, CAB-2
Investment Type
Owner/User
Building Details
Year Built
1880
Buildings
2
Stories
2
Listing Agency:
Saurage Rotenberg Commercial Real Estate
(225) 328-1778
Listed By:
Carmen Austin, MBA, CCIM, SIOR · License #LA BROK.0912122713-ASA
Source:
Crexi
Added: Oct 21, 2020
Changed: Aug 27
Last Checked: Aug 29 at 7:49AM
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 Saurage Rotenberg Commercial Real Estate
Investment Insights
Based on property information with market context.
This Mid-City redevelopment opportunity is located in a government-designated Opportunity Zone. The property, consisting of approximately 1.87 acres, is situated on seven city lots zoned C-2 and CAB-2 in Flood Zone X. It features frontage and access via Main St., North St., and Scenic Hwy. The site includes two commercial buildings: a historic bar building of approximately 2,800 SF with a mezzanine, antique tin ceiling tiles, solid brick construction, a sliding/rollup door, and a hood vent, and a functioning approximately 4,000 SF industrial warehouse building with a secured yard and a one-bedroom second-story loft. The bar building, known as Chris's Bar, was established in the 1880s and is known as "Home of the Fishbowl". The property includes a hard corner commercially zoned lot totaling 120' x 240' with 240' of frontage along Scenic Hwy and 120' of frontage along Main St. The property is surrounded by landscaped green space with tropical vegetation, mature foliage, palm trees, and greenery. Located in the heart of Baton Rouge's Mid-City, it offers easy access to Downtown, I-10 and I-110, historic Spanish Town, the Garden District, Sacred Heart Catholic Church campus, and Magnolia Cemetery. The CAB-2 zoning allows the historic building to operate as a bar. The property is suitable for many uses and poised for redevelopment. Several adjoining and surrounding properties in this quickly transitioning and gentrifying district are additionally available as well to provide even more opportunities for expansions and projects.
Key Highlights
- Large 1.87‑acre site in a government‑designated Opportunity Zone, ideal for redevelopment.
- Prime Mid‑City location with easy access to Downtown, I‑10, I‑110, and other key areas.
- Zoned C‑2 and CAB‑2, allowing for a wide range of commercial uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,064
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,101,280
$1.1M
Cap Rate 7%
$786,629
$786.6K
Cap Rate 9%
$611,822
$611.8K
Market Conditions
NOI Build-Up for 6,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.1K $9.72/SF
− Vacancy
−$1.3K −$0.19/SF
EGI
$64.8K $9.53/SF
− OpEx
−$9.7K −$1.43/SF
NOI
$55.1K $8.10/SF
Area
Baton Rouge, LA
Vacancy
1.99%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,101,280
Cap Rate 7%
$786,629
Cap Rate 9%
$611,822
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,998 @ 7.0% cap · market cap 10.65%
Second Best
Retail
$1.52M
$1.33M – $1.77M
NOI $106,398 @ 7.0% cap · market cap 9.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Historic buildings on 1.87 acres in Baton Rouge's Mid-City.
Where is this retail property located?
The property is located at 2008 & 1952 North St. Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,070,880.
What are key features of this property?
This property features: Large 1.87‑acre site in a government‑designated Opportunity Zone, ideal for redevelopment.; Prime Mid‑City location with easy access to Downtown, I‑10, I‑110, and other key areas.; Zoned C‑2 and CAB‑2, allowing for a wide range of commercial uses.
