5955 Airline HwyBaton Rouge, LA 70805

Property Details for 5955 Airline Hwy

Year built

2006

Lot size

2.28 AC

Property size (Sq ft)

14,820 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

2311593

APU

2311593

Description

This exceptional 14,820 square foot retail property, located at 5955 Airline Highway in Baton Rouge, Louisiana, presents a unique investment opportunity. Situated on a 2.15-acre lot, this Class A building boasts a single-tenant occupancy, currently vacant, offering significant potential for redevelopment or lease. Constructed in 2005, the property features a single-story design with ample parking for 85 vehicles. The zoning is C-2, allowing for a variety of uses including street retail, health-related businesses, auto-related services, restaurants, and governmental entities. The building's convenient location on Airline Highway, with a cross street of Greenwell Street, ensures high visibility and accessibility. The property is equipped with no elevators. The master lease expires on February 28, 2031. All offers are subject to the approval of Walgreens Co.'s Real Estate Committee. This prime location and substantial square footage make this an attractive proposition for discerning investors seeking a high-impact retail investment in a thriving Baton Rouge market. The zip code is 70805.

• CAP approach

  CAP return

  Valuation

  6%

  $2,513,577

  6.5%

  $2,320,225

  7%

  $2,154,494

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,752,248

  Geo Method

  $6,877,288

• Alternative Use

  Use

  Valuation

  Residential

  $2,320,225

  Hospitality

  $2,125,314

  Educational

  $1,768,236

  Medical

  $1,829,048

  Retail

  $2,750,589

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.5018

Longitude

-91.1301

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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