Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3384 Government St Baton Rouge, LA 70806

    • Investment properties
    • 10,750 SF
    • 1.76 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0672160
    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

    • Pallavi R. Patel, PD / Pharmacy
    • Marc Gibbens, PD / Pharmacy
    • CDReload Instant Bitcoin / Crypto Atm
    • CDReload at CVS / Crypto Atm
    • CVS / (Bike/Boat/Book/etc) Store / Wine and Liquor Store

    Property Details for 3384 Government St

    Year built
    1998
    Lot size
    1.76 lot acres
    Property size
    10,750 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    1040871
    APU
    1040871

    Description

    This exceptional investment opportunity presents a 10,908-square-foot CVS Pharmacy located at 3384 Government St, Baton Rouge, LA 70806. The property, built in 1998, sits on a 1.75-acre lot and features a single-story building with a net lease structure (NNN), offering zero landlord responsibilities. The current lease, with a corporate guarantee from CVS, expires December 2, 2023, but includes 3-5 year options with a 1.68% rent increase in each option period. The property boasts a strong 8.25% cap rate and a net operating income (NOI) of $323,869, with an asking price of $3,928,000. This location benefits from extended hours (until midnight), a unique advantage among Baton Rouge CVS stores. The property's strategic location is enhanced by recent city improvements to Government Street, creating a vibrant commercial environment. Nearby key employers include BlueCross BlueShield (2,400 employees), ExxonMobil (4,200 employees), and a significant Amazon fulfillment center under construction. The proximity to Louisiana State University (35,914 students) and Baton Rouge Metropolitan Airport (800,000+ annual travelers) further strengthens the property's investment potential. Liquor sales contribute to the property's recession-resistant qualities. This is a rare opportunity to acquire a high-performing, well-located CVS Pharmacy with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,675,000
      6.5%
      $1,550,000
      7%
      $1,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,341,000
      Market price range: $395k - $1.34M
      AI Estimate
      $1,337,000
      Market price range: $404k - $1.34M

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

    Location Insight

    • Map
    • Local Demand
    City
    Baton Rouge
    County
    East Baton Rouge
    State
    Louisiana
    Longitude
    -91.1545
    Latitude
    30.4436
    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
    $26,505
    $102,500
    $120,000
    $222,500
    -
    $1,025,000
    $800,000
    $1,825,000

    Comparable in this City

    • Value Estimation by Request

      1214 Acadian Thruway

      STORE/OFFICE (MIXED USE)
      1214 Acadian Thruway, Baton Rouge, LA 70806
      View Details
    • Value Estimation by Request

      3615 Nn St

      STORE/OFFICE (MIXED USE)
      3615 Nn St, Baton Rouge, LA 70806-3240
      View Details
    • Value Estimation by Request
      1.00 Acre

      3772 Nn Blvd

      STORE/OFFICE (MIXED USE) • 1.00 Acre
      3772 Nn Blvd, Baton Rouge, LA 70806-3822
      View Details
    • Value Estimation by Request

      4088 Nn St

      STORE/OFFICE (MIXED USE)
      4088 Nn St, Baton Rouge, LA 70806-3359
      View Details
    • Value Estimation by Request
      1.00 Acre

      4040 Nn Blvd

      STORE/OFFICE (MIXED USE) • 1.00 Acre
      4040 Nn Blvd, Baton Rouge, LA 70806-3829
      View Details
    • Value Estimation by Request

      Baton Rouge, LA 70806

      STORE/OFFICE (MIXED USE)
      Baton Rouge, LA 70806
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Space in Mixed-Use Development

      Office space for lease in a premier mixed-use development.
      4646 Government St, Baton Rouge, LA 70806
      View Details
    • Contact for pricing
      3,600 SF

      Renovated Warehouse with Live/Work Space

      Renovated warehouse configured for live/work, near Airline Hwy.
      1865 Beaumont Dr, Baton Rouge, LA 70806
      View Details
    • $3,375,000
      48,899 SF

      Florida Blvd Commercial Property

      Large Restaurant/Mixed-Use, High Visibility
      5425 Florida Blvd, Baton Rouge, LA 70806
      View Details
    • $1,150,000
      3,857 SF

      Mid City Restaurant & Live/Work

      Baton Rouge restaurant, live/work opportunity.
      545 Foster Dr, Baton Rouge, LA 70806
      View Details
    • $1,300,000
      17,475 SF

      Baton Rouge Multifamily Investment

      20-Unit Apartment Complex, 90% Occupied
      985 Monet Dr, Baton Rouge, LA 70806
      View Details
    • $219,870
      0.68 Acres

      Kornmeyer Plaza: Prime Commercial Land

      Baton Rouge commercial lot, high traffic.
      0 Florida Blvd, Baton Rouge, LA 70806
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      993,144 SF

      Bon Carre Tech Park Office Space

      Prime Baton Rouge Office, Coworking Available
      7389 Florida Blvd, Baton Rouge, LA 70806
      View Details
    • $29 SF/Yr
      12,084 SF

      Jefferson Hwy Retail Center

      High-traffic retail space available
      7570 Jefferson Hwy, Baton Rouge, LA 70806
      View Details
    • $15 SF/Yr
      10,000 SF

      Florida Blvd Retail Space

      Baton Rouge retail strip center, newly renovated.
      4373 Florida Blvd, Baton Rouge, LA 70806
      View Details
    • $13 SF/Yr
      21,074 SF

      Goodwood Village Shopping Center

      Mid-City Baton Rouge retail & office space
      711 Jefferson Hwy, Baton Rouge, LA 70806
      View Details
    • Contact for pricing
      1,600 SF

      Second Level Office Space Available

      Office space for lease with convenient interstate access.
      759 S Acadian Thruway, Baton Rouge, LA 70806
      View Details
    • $15 SF/Yr
      1,400 SF

      Professional Office Building For Rent

      Two-story office building with on-site management and covered parking.
      6554 Florida Blvd, Baton Rouge, LA 70806
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3384 Government St
    Baton Rouge, LA 70806
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.