11297 Florida BlvdBaton Rouge, LA 70815

Property Details for 11297 Florida Blvd

Year built

1993

Lot size

1.69 AC

Property size (Sq ft)

12,856 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

1501836

APU

1501836

Description

This exceptional investment opportunity presents a 13,620 square foot Walgreens located at 11297 Florida Blvd, Baton Rouge, LA 70815. The property boasts a highly desirable absolute NNN lease structure, minimizing landlord responsibilities. Built in 1993, this single-story building sits on a 1.67-acre lot and enjoys a prime hard corner location within a dense retail market. The current lease, with Walgreens, a credit-rated tenant, has a remaining term of 5.2 years, expiring January 30, 2030, and includes four or five-year renewal options. The property generates a strong net operating income (NOI) of $219,999, resulting in an attractive 8.35% cap rate. The asking price is $2,634,730, translating to $193.45 per square foot. This strategically located asset benefits from its proximity to Louisiana State University and its position in Baton Rouge, Louisiana's capital city. The property's long-standing tenancy with a nationally recognized brand like Walgreens, coupled with its strong financial performance and minimal landlord responsibilities, makes it an ideal addition to any investment portfolio. The property's Class A designation further underscores its quality and desirability. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,237,796

  6.5%

  $2,065,658

  7%

  $1,918,111

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,520,034

  Geo Method

  $5,965,884

• Alternative Use

  Use

  Valuation

  Residential

  $2,065,658

  Hospitality

  $1,892,132

  Educational

  $1,574,231

  Medical

  $1,628,372

  Retail

  $2,448,804

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.4594

Longitude

-91.0588

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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