16171 State Bank DrPrairieville, LA 70769

Property Details for 16171 State Bank Dr

Lot size

0.27 AC

Property type

Office properties

Property subtype

Other office properties

APN

20005568

APU

20005568

Description

This exceptional income-producing commercial property in Prairieville, LA, presents a compelling investment opportunity. Situated at the high-traffic intersection of Airline Highway and LA-73, this 3,573 square foot office duplex sits on a 0.28-acre lot and offers 15 parking spaces (one handicapped-accessible). The property is comprised of two distinct suites. Suite 100, currently leased to a long-term tenant (15 years) paying approximately $2,200 per month under a lease renewed in February 2024, features a reception area, waiting room, four offices, a training room, a restroom, and a utility closet with a sink. A small kitchenette is also included. Finishes include carpeted offices and durable stained concrete floors in common areas. Suite 100 is immediately available for occupancy. Previously used as a doctor's office and more recently by a cybersecurity firm, Suite 100 offers six offices, two kitchenettes, a unisex restroom, and an exterior storage closet. A server room (previously a reception area) is adjacent to the front office. Flooring is a mix of wood laminate, stained concrete, and carpet in the server room. The building boasts security features including surveillance cameras and wiring for a portable generator. Recent upgrades include exterior paint (2019), roof and exterior door replacements (2022), HVAC unit updates (interior 2016, exterior 2018), new LED lighting, and updated network wiring. This property is perfect for investors seeking stable rental income and future growth potential, or for business owners requiring immediate occupancy. The asking price is $500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,651,093

  6.5%

  $1,524,086

  7%

  $1,415,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,140

  Geo Method

  $3,521,126

• Alternative Use

  Use

  Valuation

  Residential

  $1,889,866

  Hospitality

  $1,731,108

  Educational

  $1,440,261

  Medical

  $1,489,794

  Retail

  $2,240,406

Location Insight

City

Prairieville

County

Ascension

State

Louisiana

Latitude

30.3024

Longitude

-90.974

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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