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Views: 47 DOM: 103 Updated: 11.22.24 Posted: 08.21.24 Status: Active 08.21.24

Summary

Price $5,462,100
Built/Renov 1998
Tenant St. Joseph Hospice
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 20,043
Lease Start 03-18-2022
#Units 15
Price/SF $272.52
Expiration 03-17-2037
Tenant Type Medical/Health
NOI $349,574
R. Term 12.3
Ownership Fee Simple
Rent/SF $17.44
Increases 2.0%/1/yrs
Pop 5Mi 99,554
Lot/AC 3.50
Options 2/5yrs/2%
AHHI 5Mi $89,368

Lease Highlights

  • St. Joseph Hospice has 12+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2% annual rental increases throughout the initial term and option periods
  • Part of a portfolio of 11 health care properties that may be purchased individually
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

St. Joseph Hospice is strategically located on East Kings Highway, and near Youree Drive where traffic counts average 23,955 VPD. It is in close proximity to well-known national tenants such as Burger King, Circle K, AutoZone, IHOP, Walmart, and more. Additionally, the site is near Louisiana State University where approximately 9,300+ students are enrolled. The 5-mile trade area is supported...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: St. Joseph Hospice
  • Guarantor:Corporate
  • Company:The Carpenter Health Network
  • # Units:15
  • Stock:Private

About Tenant

St Joseph Hospice, along with The Carpenter House of St Joseph Hospice, operates free-standing inpatient hospice facilities across the southern United States. This division of The Carpenter Health...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,665 31,895 94,204
2024 Total Population : 8,947 32,730 97,102
2024 Employed Civilian Pop : 5,697 16,865 46,710
2024 Total Businesses : 214 2,278 5,087
2024 Average Household Income : $ 86,887 $ 92,592 $ 93,099
2024 Total Consumer Spending : $ 335 M $ 1227 M $ 3440 M
2024 Median Age : 41 41 39
2024 Total Households : 4,368 15,099 41,953
2024 Pop Age 25+: Bachelor's Degree : 1,869 5,622 14,815
2024 Average Home Value : $ 271,879 $ 301,369 $ 282,411
*ESRI data is presented for informational purposes only

Listing Broker

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