Flex Warehouse with
For Sale
$899,000
9976 Choctaw Dr, Baton Rouge, LA 70815
Two-story office fronts the site, with an 8,400 sf warehouse featuring multiple roll-up doors.
Property Size10,000 SF
Lot Size0.90 Acres
Price / SF$89.90
Days on Market314
Property Features for 9976 Choctaw Dr
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.90 Acres
Property subtype
General Commercial
Additional Details
Road Access
Yes
Amenities
A/C - Other
3
Secured.
150 x 263
Building Details
Year Built
2004
Stories
2
Listing Agency:
Castro Real Estate Services, LLC
(225) 936-7643
Listed By:
Miguel Castro · License #995703492
(225) 936-7643
Source:
Xome
Added: Sep 29, 2025
Changed: Aug 7
Last Checked: Aug 8 at 4:04AM
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 Castro Real Estate Services, LLC
Investment Insights
Based on property information with market context.
Built in 2004, this flex warehouse property includes approximately 10,000 sf with a two-story office area upfront of about 1,600 sf. The rear warehouse component totals approximately 8,400 sf and features several roll-up doors for access and loading. The building needs some work, and the offering also includes land of approximately 39,465 sf (0.90 acres) across three parcels.
The site has approximately 150 feet of frontage on Choctaw, with a lot depth of about 263.10 feet. An electric gate is listed as part of the property.
Overall, the configuration combines office space with warehouse functionality within a single property setting, supported by multiple roll-up doors and a larger parcel footprint.
The site has approximately 150 feet of frontage on Choctaw, with a lot depth of about 263.10 feet. An electric gate is listed as part of the property.
Overall, the configuration combines office space with warehouse functionality within a single property setting, supported by multiple roll-up doors and a larger parcel footprint.
Key Highlights
- Approx. 10,000 SF two‑story office/warehouse building built in 2004
- Office space fronts the site with approx. 1,600 SF upfront; warehouse is approx. 8,400 SF
- Warehouse includes several roll‑up doors
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
$80,976
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
9.01%
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%
$1,619,520
$1.6M
Cap Rate 7%
$1,156,800
$1.2M
Cap Rate 9%
$899,733
$899.7K
Market Conditions
NOI Build-Up for 10,000 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
$97.2K $9.72/SF
− Vacancy
−$1.9K −$0.19/SF
EGI
$95.3K $9.53/SF
− OpEx
−$14.3K −$1.43/SF
NOI
$81.0K $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%
$1,619,520
Cap Rate 7%
$1,156,800
Cap Rate 9%
$899,733
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.59M
NOI $95,648 @ 7.0% cap · market cap 10.64%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $80,976 @ 7.0% cap · market cap 9.01%
Theoretical Best
Specialty Retail
$2.39M
$2.10M – $2.79M
NOI $167,644 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70815, LA
29,376
Population
12,060
Households
2.4
Avg Household Size
37
Median Age
30%
College-Educated
86%
High-School Grad
9.5 sq mi
ZIP Area
3,092
Density / Sq Mi
$55,804
Median Household Income
$36,158
Median Earnings
$984
Median Rent
$213,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office fronts the site, with an 8,400 sf warehouse featuring multiple roll-up doors.
Where is this flex space located?
The property is located at 9976 Choctaw Dr Baton Rouge, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approx. 10,000 SF two‑story office/warehouse building built in 2004; Office space fronts the site with approx. 1,600 SF upfront; warehouse is approx. 8,400 SF; Warehouse includes several roll‑up doors
