Former Capital One branch on Government Street sells for $1.1M

Former Capital One branch on Government Street sells for $1.1M
The branch was put on the market after it closed back in May 2019. (Source: WAFB)

BATON ROUGE, La. (WAFB) - The former Capital One branch in the Mid City neighborhood sold for $1.1 million and plans are to redevelop the property for retail use.

Developer Kevin Nguyen purchased the property located at 5220 Government Street, and already owns other shopping centers in Baton Rouge.

The 1.02-acre site spans the entire block from St. Tammany Street to Acadia Street. Elifin Realty, which represents Nguyen, said the property is the largest tract available on that stretch of Government Street and extends an entire block.

Elifin will list the property as a new retail development opportunity for lease. Plans on whether the building will be torn down or replaced with a new retail center have not been released.

The branch was put on the market after it closed back in May 2019.

Elifin said in a statement that the area is surrounded by other retailers and restaurants, making it attractive to developers.

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