Add Listing
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

    510 Washington St Bastrop, LA 71220-3040

    • Office properties & Spaces
    • 9,030 SF
    • 1.48 lot acres
    OFF-MARKET
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-2057706
    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

    • Southern Medical Services / Physician
    • Louisiana Office of Motor Vehicles / State Government Office
    • Kaitlyn Johnston / Physician
    • Louisiana Department of Public Safety & Corrections / Government Office
    • Bastrop Rural Health Clinic / Physician

    Property Details for 510 Washington St

    Year built
    1954
    Lot size
    1.48 lot acres
    Property size
    9,030 SF
    Property type
    Office properties & Spaces
    APN
    7200016843
    APU
    7200016843

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $795,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bastrop
    County
    Morehouse
    State
    Louisiana
    Longitude
    -91.9135
    Latitude
    32.7823
    CBSA code
    33740
    CBSA name
    MONROE, 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
    $6,277
    $5,920
    $39,985
    $45,905
    -
    $59,200
    $266,564
    $325,764

    Comparable in this City

    • Value Estimation by Request

      718 Washington St

      OFFICE (GENERAL)
      718 Washington St, Bastrop, LA 71220-5037
      View Details
    • Value Estimation by Request
      4,531 SF

      714 Washington St

      OFFICE (GENERAL) • 4,531 SF
      714 Washington St, Bastrop, LA 71220-5037
      View Details
    • Value Estimation by Request
      2,806 SF

      218 Franklin St

      OFFICE (GENERAL) • 2,806 SF
      218 Franklin St, Bastrop, LA 71220-3818
      View Details
    • Value Estimation
      $1,850,000
      28,920 SF

      729 Kammell St

      OFFICE (GENERAL) • 28,920 SF
      729 Kammell St, Bastrop, LA 71220
      View Details
    • Value Estimation by Request
      3,876 SF

      Bastrop, LA 71220

      OFFICE (GENERAL) • 3,876 SF
      Bastrop, LA 71220
      View Details
    • Value Estimation
      $8,245,000
      153,814 SF

      323 Walnut Ave

      OFFICE (GENERAL) • 153,814 SF
      323 Walnut Ave, Bastrop, LA 71220-4521
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      650 SF

      Bastrop Office Space For Lease

      Renovated Office, Great Location, 650 SF
      649 Madison Ave, Bastrop, LA 71220
      View Details
    • $275,000
      3,178 SF

      Bastrop Office Building - Great Location

      Prime Office Space, Ample Parking, 3178 sq ft
      618 Washington St, Bastrop, LA 71220
      View Details
    • Contact for pricing
      1,882 SF

      Former Dentist Office For Sale

      Commercial property featuring a lobby, offices, kitchen, and storage.
      917 Lynwood Ave, Bastrop, LA 71220
      View Details
    • $199,999
      4,218 SF

      Bastrop Retail Space - Prime Location

      High-traffic retail space, ample parking.
      1802 Madison Ave, Bastrop, LA 71220
      View Details
    • Contact for pricing
      1,504 SF

      Former Church Renovation Opportunity

      Former church building with renovation and redevelopment potential.
      712 Pleasant Dr, Bastrop, LA 71220
      View Details
    • Contact for pricing
      3,759 SF

      Bastrop Restaurant with Drive-Thru

      Commercial property ideal for restaurant use with drive-thru.
      2057 E Madison Ave, Bastrop, LA 71220
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Turnkey Bank/Office Space with Drive-Thru

      2,000 SF end-cap commercial suite with high visibility.
      613-661 E Madison Ave, Bastrop, LA 71220
      View Details
    • Contact for pricing

      Land Shadow-Anchored by Walmart

      Commercial land available, shadow-anchored by Walmart Supercenter.
      5981 Mer Rouge Rd, Bastrop, LA 71220
      View Details
    • Contact for pricing

      Magnolia Plaza Retail Opportunity

      Retail spaces available in renovated Magnolia Plaza with ample parking.
      565 E Madison Ave, Bastrop, LA 71220
      View Details
    • Contact for pricing

      Commercial Land Near Walmart

      Commercial land for rent shadow-anchored by Walmart Supercenter.
      6017 Mer Rouge Rd, Bastrop, LA 71220
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Walmart Supercenter

      Retail space available, shadow-anchored by Walmart Supercenter on Mer Rouge Road.
      5981-6033 Mer Rouge Rd, Bastrop, LA 71220
      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.
    510 Washington St
    Bastrop, LA 71220-3040
    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.
    Sign Up Successful!
    You now have access to more from Realmo!