Office Buildings Convertible to Hotel in Downtown Baton Rouge

Office for Sale
Also listed as Hospitality, Multi-Family
Catylist Listing ID: 30088397
Property Subtypes: Executive Suites, Governmental, Institutional, Medical, Mixed Use, Flex Space, Office Building, Research & Development, Other
Building Size (RSF): 92,719 SF
Gross Building Area: See Agent
Sale Price: $12,000,000
Unit Price: $129.42 PSF
Property Use Type: Vacant/Owner-User
Building Name: State National Life
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/20/2017

Overview / Comments

The property includes three connecting buildings totaling approximately 100,000 SF (fronting on Third Street, Florida Street and Lafayette Street) in the center of the downtown development district. The buildings, previously office buildings, are also ideal for hotel conversion. The site is between the Hilton Hotel Capitol Center on Lafayette and the Courtyard by Marriott hotel (under construction) on Third Street. Two blocks from the Mississippi River, the site is midway between the New State Capitol and the Old State Capitol.

The largest building, 263 Third, is on the Main Street Program and qualifies for:
- 5 Year Property Tax Abatement
- Economic Development Zone Status
- New Market Tax Credits
- Federal Historic & Rehabilitation Tax Credits
- State Commercial Historic Tax Credits
- State Historic Rehabilitation Tax Credits—residential
- Tax Increment Financing
- And Numerous State Business Incentives

The three buildings connect to Florida Street and Third Street primary downtown arteries. This is the largest commercial office/ hotel/ residential building available in downtown Baton Rouge.

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 51
Property Located Between: 3rd St. & Lafayette St.
Property Visibility: Excellent
Total Number of Buildings: 3
Number of Stories: 7

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,591 73,440 165,934
Median Age: 35.86 33.03 32.85
Households: 3,282 28,453 65,964
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