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Views: 63 Updated: 08.21.24 Posted: 05.14.24 Status: Inactive 08.21.24

Summary

Price $1,950,750
Built/Renov 2005
Tenant St. Joseph Hospice
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 10,138
Lease Start 03-18-2022
#Units 15
Price/SF $192.42
Expiration 03-17-2037
Tenant Type Medical/Health
NOI $124,848
R. Term 12.4
Ownership Fee Simple
Rent/SF $12.31
Increases 2.0%/1/yrs
Pop 5Mi 191,879
Lot/AC 0.24
Options 2/5yrs/2%
AHHI 5Mi $86,140

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 escalations throughout the initial term and option periods
  • Part of a portfolio of 11 health care properties that may be purchased individually
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

St. Joseph Hospice is strategically located on Upstream Street, near Highway 90 where traffic counts average 51,470 VPD. The site is surrounded by well-known national tenants such as McDonald's, Walgreens, Winn-Dixie, Smoothie King, and more. Additionally, St. Joseph Hospice is approximatley 7 miles from the Louis Armstrong New Orleans International Airport. 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 : 11,475 69,997 185,846
2024 Total Population : 11,668 71,215 188,846
2024 Employed Civilian Pop : 6,126 35,935 95,688
2024 Total Businesses : 529 3,988 13,115
2024 Average Household Income : $ 120,165 $ 94,798 $ 95,963
2024 Total Consumer Spending : $ 526 M $ 2591 M $ 6866 M
2024 Median Age : 46 43 41
2024 Total Households : 5,052 31,046 81,113
2024 Pop Age 25+: Bachelor's Degree : 2,482 10,424 28,789
2024 Average Home Value : $ 438,522 $ 330,455 $ 338,595
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jefferson Hwy Destin Ln 2018 121 0.60 mi
Jefferson Hwy Huntly Ln 2011 19,120 0.74 mi
Hickory Ave Vicknair St 2009 20,279 0.78 mi
Jefferson Highway Park Ave 2022 30,577 0.94 mi
Dickory Ave Walnut Creek Rd 2009 12,567 1.21 mi
Jefferson Hwy Imperial Woods Dr 2008 20,073 1.31 mi
Jefferson Hwy Marion Ct 2008 18,149 1.32 mi
Hickory Ave Alexis St 2011 5,169 1.37 mi
River Rd Willswood Ln 2007 6,612 1.49 mi
Jefferson Highway Oak Ave 2022 22,893 1.49 mi

Listing Broker

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