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    Property profile & analytics

    232 3Rd St Baton Rouge, LA 70802

    • Commercial real estate
    • 3,969 SF
    For Sale
    View listing
    $3,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-2380689
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Same Day Dumpster Rental Baton Rouge / Waste Management Service
    • Tyler Technologies / Software Company
    • Bonton Associates / Civil Engineer
    • Louisiana Interactive Llc / Website Designer

    Property Details for 232 3Rd St

    Property size
    3,969 SF
    Property type
    Commercial real estate
    APN
    66648
    APU
    66648

    Description

    This exceptional Class A mixed-use building, located at 232 N 3rd St in Baton Rouge, Louisiana, presents a lucrative investment opportunity. The property boasts a total of 15,100 square feet and is offered at $3,200,000, translating to $230.13 per square foot. The building features a modified lease type and multi-tenancy structure. The first and second floors are currently leased to office tenants, providing immediate cash flow. Adding to its appeal, the third floor comprises four high-end residential units, each offering stunning views of downtown Baton Rouge and the Mississippi River. This prime 3rd Street location ensures high visibility and accessibility. The property's APN is 026-1613-0, and its zip code is 70802. This unique blend of office and residential spaces makes it an ideal investment for those seeking diversified income streams and strong potential for appreciation in the vibrant Baton Rouge market. The building's executive and traditional office spaces cater to a wide range of tenants, while the upscale residential units attract a discerning clientele. This is a rare opportunity to acquire a well-positioned, high-quality mixed-use property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $223,000
      Market price range: $86.7k - $223k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Baton Rouge
    County
    East Baton Rouge
    State
    Louisiana
    Longitude
    -91.188
    Latitude
    30.4488
    CBSA code
    12940
    CBSA name
    BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,471
    $16,350
    $87,980
    $104,330
    -
    $163,500
    $586,533
    $750,033

    Comparable in this City

    • Value Estimation
      $260,000
      3,969 SF

      232 3rd St Ste, Unit 201

      COMMERCIAL CONDOMINUIM • 3,969 SF
      232 3rd St Ste, Baton Rouge, LA 70801-1325
      View Details
    • Value Estimation by Request

      620 Florida St

      COMMERCIAL CONDOMINUIM
      620 Florida St, Baton Rouge, LA 70801-1740
      View Details
    • Value Estimation by Request

      620 Florida St

      COMMERCIAL CONDOMINUIM
      620 Florida St, Baton Rouge, LA 70801-1740
      View Details
    • Value Estimation by Request

      620 Florida St

      COMMERCIAL CONDOMINUIM
      620 Florida St, Baton Rouge, LA 70801-1740
      View Details
    • Value Estimation by Request

      200 Florida St

      Land
      200 Florida St, Baton Rouge, LA 70801
      View Details
    • Value Estimation by Request
      28.90 Acres

      Tracts H-1-A-1-B-1-A F-1-A-1-A-1-A Howell Blvd

      Land • 28.90 Acres
      0 Tracts H-1-A-1-B-1-A F-1-A-1-A-1-A Howell Blvd, Baton Rouge, LA 70801
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    Similar Nearby for Lease

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      Downtown Baton Rouge Office Space

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      Baton Rouge, LA: Prime Retail Location
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      Retail Space in Onyx Residences

      Retail space for lease in a prominent downtown location.
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      Baton Rouge Retail Strip Center

      Newly renovated retail spaces in high-traffic Baton Rouge location.
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      Turnkey Flex Space on Market

      Turnkey flex space with office and warehouse areas available for lease.
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    • $18 SF/Yr
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      Roumain Building: Prime Baton Rouge Office

      Executive Suites & Traditional Offices Available
      343 3Rd St, Baton Rouge, LA 70801
      View Details
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    232 3Rd St
    Baton Rouge, LA 70802
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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