Main Street Office Building in Opportunity Zone

654 Main St Baton Rouge, LA 70801

654 Main St, Baton Rouge, LA, 70801
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FOR SALE FOR LEASE
Property Type:
Multi Tenant Office
Amount:
$1,790,000
Last Verified:
Dec 16, 2020

Highlights


Description

This redevelopment opportunity consists of a vacant, three story office building totaling ±29,056 SF. Strategically positioned in Downtown Baton Rouge, 1,000 feet from I-110, the property provides an opportunity to acquire a commercial asset at a significant discount with tremendous value add opportunities. Stabilizing and/or redeveloping the property will allow the new owner to enjoy an increased cash-flow stream and significant capital appreciation upon future disposition.

The Building at 654 Main Street has two elevators and the first 2 floors are currently in shell condition and ready for redevelopment, with the 3rd floor ready for immediate occupancy. The Property features frontage on Main St and N 7th St offering prime signage opportunities. This Building and its tenants benefit from 32 dedicated parking spaces with additional surface parking is available at the corner of Main St and N 8th St.

The property is part of the Main Street Historic District which is the largest cohesive grouping of historic buildings remaining in the city, and is also located in a Federal Opportunity Zone and would be able to take advantage of the New Markets Tax Credit.

The adjacent property at the hard corner of Main St and N 7th St is also available. 668 Main Street, listed separately.

Three story office building for Sale or Lease in Downtown Baton Rouge's Main Street Historic District. Totaling just over 29,000 square feet, this property is an excellent opportunity for investors and business owners alike.

The first 2 floors are currently in shell condition and ready for redevelopment, with the 3rd floor ready for immediate occupancy. The property features frontage on Main St and N 7th St offering prime signage opportunities. The building also features two elevators and 32 dedicated parking spaces on-site. Additional surface parking is available at the corner of Main St and N 8th St.

The property is part of the Main Street Historic District which is the largest cohesive grouping of historic buildings remaining in the city.

The neighboring corner building, located at 668 Main St, also listed for sale or lease.

Located at the signalized hard corner of Main St and N 7th St in Downtown Baton Rouge.


Year Built: 1920
Building Size: 29056sq ft
Building Class: B
Lot Size: 0.25 acres

Units for Lease

654 Main St
Space Available: 29056 SF
Lease Type: Full Service

Price Per Sqft/Year: $13.9

Map of 654 Main St, Baton Rouge, LA, 70801

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.