Building Details

Year Built 2000

Listing Agency: Saurage Rotenberg Commercial Real Estate, LLC

Listed By: Carmen Austin MBA CCIM SIOR · License #BROK.0912122713-ASA Show Phone

Source: Lacdb.resimplifi

Added: May 31, 2024 Changed: Sep 26 Last Checked: Oct 16 at 5:39AM

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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, LLC

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Investment Insights

Based on property information with market context.

This property features over 6.06 acres of commercially zoned and secured land, improved with an existing 39,582 square foot building that formerly served as a car dealership. Situated in a high-traffic retail corridor, the site offers convenient access to I-12 and features a turning lane for easy ingress and egress. The property boasts over 350 feet of frontage on Airline Highway and benefits from strong demographics. Zoned C-2, the site is suitable for a variety of uses, including automotive sales, RV or car dealership, truck stop, self-storage, staging, retail, heavy equipment sales, warehouse distribution, and sports and recreational facilities. The property is located between the Hammond Aire Plaza, a 350,000 square foot regional shopping center anchored by Albertson's, Marshall's, and Burlington, and an Ashley Furniture Homestore. There are over 319 available parking spaces.

Key Highlights

• Over 6 acres of commercially zoned land
• +/-39,582 sf existing building (former car dealership)
• High traffic retail corridor with quick access to I‑12

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$263,957

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,279,140 $5.3M

Cap Rate 7%

$3,770,814 $3.8M

Cap Rate 9%

$2,932,856 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 39,582 SF

Gross rent

$384.7K $9.72/SF

− Vacancy

−$7.7K −$0.19/SF

EGI

$377.1K $9.53/SF

− OpEx

−$113.1K −$2.86/SF

NOI

$264.0K $6.67/SF

Area

Baton Rouge, LA

Vacancy

1.99%

Lease Rate

$9.72 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,279,140

Cap Rate 7%

$3,770,814

Cap Rate 9%

$2,932,856

Alternative Uses

Best Use

Retail

$8.85M

$7.74M – $10.32M (±1% cap)

NOI $619,329 @ 7.0% cap · market cap 13.76%

Second Best

Industrial

$3.77M

$3.30M – $4.40M (±1% cap)

NOI $263,957 @ 7.0% cap · market cap 5.87%

Theoretical Best

Specialty Retail

$9.48M

$8.29M – $11.06M (±1% cap)

NOI $663,567 @ 7.0% cap · market cap 14.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

24 HOUR COVID Medical Laboratory Rapid Response Physicians Medical Laboratory

Suggested Use

Top Pick Restaurant Building Supply Big Box & Wholesale Store Dental Office HVAC Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

849

Businesses Nearby

Explore this area Business Placement

Demographics for 70809, LA

25,302

Population

13,872

Households

1.8

Avg Household Size

40

Median Age

55%

College-Educated

97%

High-School Grad

14.4 sq mi

ZIP Area

1,757

Density / Sq Mi

$81,310

Median Household Income

$55,827

Median Earnings

$1,336

Median Rent

$305,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Retail property - 6.06 acres with 39,582 SF building on Airline Hwy.

Where is this retail property located?

The property is located at 9550 Airline Hwy Baton Rouge, LA.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: Over 6 acres of commercially zoned land; +/-39,582 sf existing building (former car dealership); High traffic retail corridor with quick access to I‑12