St. Joseph Hospice

507 Upstream Street, River Ridge, LA 70123

$1,950,750

Cap Rate 6.40%

Views: 19 DOM: 26 Updated: 08.21.24 Posted: 08.21.24 Status: Active 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 12.6	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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Key Features

Build to suit
Near major nationals
Strategically located
Highway close
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Annual rent increases
Corporate Guarantee

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Links

St. Joseph Hospice Wikipedia River Ridge, Louisiana Zip Code 70123 Broker Site Page

Maps

Local Information

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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Listing Broker

Deb Vannelli

Upland Real Estate Group, Inc.

Contact

66 Listings
4826 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

66 Listings
4826 Views
10 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

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Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

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Keith Sturm

Upland Real Estate Group, Inc.

Contact

66 Listings
4826 Views
10 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

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