1545 Millerville RdBaton Rouge, LA 70816

  • Mixed-use properties
  • 1.18 AC
For Sale
$2,442,816 View listing

Property Details for 1545 Millerville Rd

Lot size
1.18 AC
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
2502895
APU
2502895

Description

Exceptional investment opportunity in Baton Rouge, Louisiana, featuring a 3,600 square foot, net-leased retail property currently occupied by a credit-rated pharmacy. Built in 2022, this single-tenant building boasts a 15-year lease commencing December 15, 2022, and expiring October 15, 2037, leaving a substantial 12.9 years remaining. The property enjoys a 100% occupancy rate since its opening date of December 15, 2022, generating a strong net operating income (NOI) of $152,676 and a 6.25% cap rate. Located at 1545 Millerville Rd, Baton Rouge, LA 70816, this prime retail space benefits from its strategic location near major anchors such as Super Target, Lowe's, Best Buy, Office Depot, Chili's, Chick-fil-A, and PetSmart, all situated just off Interstate 12. The asking price is $2,442,816, translating to $678.56 per square foot. The lease includes escalations every five years, providing built-in rent growth and a high barrier to entry for competitors. This NNN lease structure minimizes landlord responsibilities, making it an attractive investment for those seeking passive income and long-term stability. The property is ideally suited for a 1031 exchange.

1545 Millerville Rd, Baton Rouge, Louisiana

Location Insight

City
Baton Rouge
County
East Baton Rouge
State
Louisiana
Latitude
30.446
Longitude
-91.0239
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
$14,572
$55,000
$61,410
$116,410
-
$550,000
$409,400
$959,400

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