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    2900 Westfork Dr Baton Rouge, LA 70827

    Sponsored
    For Lease
    $19 SF/Yr

    Class B Office Space, Sherwood Forest Blvd.

    Lot size:
    105,720 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    The Westfork Building offers exceptional Class B office space situated conveniently off Sherwood Forest Boulevard. This multi-tenant property boasts a total of 105,720 square feet, with multiple office suites available ranging from 1,753 to 9,580 contiguous square feet. Currently, 27,198 square feet are vacant, providing ample opportunity for businesses seeking flexible and adaptable workspaces. The minimum divisible space is 7,434 square feet, catering to a variety of tenant needs. The building features 587 parking spaces for convenient employee and client access. For added peace of mind, a backup generator ensures uninterrupted operations during power outages. Adding to the building's convenience, a restaurant is located on the first floor. This property presents a unique opportunity for owner-occupants considering a purchase. The building's APN is 428590. Inquire for detailed floor plans and leasing options.

    Property Features for 2900 Westfork Dr

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    105,720 SF
    Class
    B
    Total Rate
    167390

    Unit(s) available at that property

    Space
    Ste 185
    Size
    1,753 SF
    Rate per SF
    $19
    Space
    Ste 400
    Size
    9,580 SF
    Rate per SF
    $19
    Space
    Suite: 500
    Size
    7,434 SF
    Rate per SF
    $19

    HighLights

    • Class B office building totaling 105,720 square feet.
    • Multiple tenant occupancy with suites ranging from 1,753 to 9,580 square feet available.
    • 27,198 square feet of vacant space currently available.
    • Minimum divisible space of 7,434 square feet.
    • 587 parking spaces available on‑site.
    • On‑site restaurant and backup generator.
    Property Profile Location Intelligence

    Current Use by Public Records

    MGT Films - Baton ... Window Tinting Service Caribbean Joe's Cafe Restaurant Xerox Corporation Copy Shop Dixie Dumpsters Garbage Collection Service Prime Lending Mortgage Lender

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    State
    Louisiana
    Longitude
    -91.0560461
    Latitude
    30.425138

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    FAQs

    What type of property is this?
    Office space - Class B Office Space, Sherwood Forest Blvd.
    Where is this office space located?
    The property is located at 2900 Westfork Dr Baton Rouge, LA.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Class B office building totaling 105,720 square feet.; Multiple tenant occupancy with suites ranging from 1,753 to 9,580 square feet available.; 27,198 square feet of vacant space currently available.
    Request Owner's contact information
    2900 Westfork Dr Baton Rouge, LA 70827
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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.

    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
    2900 Westfork Dr Baton Rouge, LA 70827
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