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    451 Florida St Baton Rouge, LA 70801
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    451 Florida St, Baton Rouge, LA 70801

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    • Retail space
    For Lease
    $20 SF/Yr
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    Premier Downtown Baton Rouge Location For Lease
    $20 SF/Yr

    Premier Downtown Baton Rouge Location

    Two premier buildings in the Baton Rouge skyline.

    451 Florida St, Baton Rouge, LA 70801
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    Property ID
    US36-0627812
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jackson Gilmour & Dobbs / Law Firm
    • Victor J Woods Jr Law Office / Law Firm
    • Quickstaff Nursing / Employment Agency
    • Finance America of Louisiana / Loan Service
    • Chase Mortgage / Loan Service / Bank

    Property Details for 451 Florida St

    Property type
    Retail space
    Property subtype
    Office buildings

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 12, 2020 — La Hermana Mayor LLC — Deed · related —
    Feb 1, 2018 — La Hermana Mayor LLC Florida Street Holdings LLC Grant Deed · related —

    Description

    Located in the epicenter of Baton Rouge, Rivermark Centre includes the two premier buildings in the Baton Rouge skyline. Just three blocks from the Mississippi River, tenants enjoy unparalleled and panoramic views of the riverfront, the Louisiana State Capitol, and the surrounding downtown area. Rivermark Centre stretches an entire city block, bordered by Laurel, Fourth, Fifth, and Florida Streets. A parking garage comprises the first seven stories of II Rivermark and represents the only attached garage with direct access to the building in Downtown Baton Rouge. With high-end finishes throughout the buildings, the suites are move-in ready, all providing a sense of professional elegance and luxury. New renovations expound upon the sophistication and lavishness by bringing a rooftop pool, on-site dining, and a fitness center to the laundry list of amenities. Management is conveniently on-site to assist with the needs of any tenant. The excellent location within the Central Business District contributes to the ease of access for anyone coming to Rivermark Centre. On- and off-ramps for I-110 are within a three-minute drive, and Baton Rouge Metropolitan (BTR) Airport is less than 15 minutes away. These transportation channels open up quick and convenient access to both commuters and out-of-town guests. There is also immediate access to multiple bus stops on the Capital Area Transit System (CATS), with routes circling downtown and providing access to the entire city. Downtown Baton Rouge is a blossoming and highly walkable entertainment hot spot. Third Street has become a vibrant entertainment district, lined with bars and music venues like City Bar Baton Rouge, Squeaky Pete's, and The Basin Music Hall, making it a dining and nightlife destination. Also within walking distance is the Shaw Center, Baton Rouge City Club, 19th District Courthouse, and the State Capitol. Nearby are several high-rated hospitality options, including The Watermark Hotel, and the Raising Cane's River Center, which is host to exciting events at its arena, performing arts theatre, and exhibition hall. Rivermark Centre's prestigious status and access to nearby amenities provide the best balance of professionalism and recreation in the Red Stick's Central Business District.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Baton Rouge
    County
    East Baton Rouge
    State
    Louisiana
    Longitude
    -91.1865167
    Latitude
    30.4495852

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    View Listing
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    Baton Rouge, LA 70801
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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.

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