3384 Government StBaton Rouge, LA 70806

Property Details for 3384 Government St

Year built

1998

Lot size

1.76 AC

Property size (Sq ft)

10,750 SF

Property type

Mixed-use properties

Property subtype

Other investment 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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,823,502

  6.5%

  $1,683,233

  7%

  $1,563,002

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,271,030

  Geo Method

  $4,988,586

• Alternative Use

  Use

  Valuation

  Residential

  $1,683,233

  Hospitality

  $1,541,832

  Educational

  $1,282,786

  Medical

  $1,326,903

  Retail

  $1,995,445

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.4436

Longitude

-91.1545

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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