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Views: 123 DOM: 200 Updated: 03.06.25 Posted: 08.21.24 Status: Active

Summary

Price $1,989,765
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 $127,344
R. Term 12.0
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 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 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

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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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Deb Vannelli

Upland Real Estate Group, Inc.

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  • 72 Listings
  • 10589 Views
  • 16 Sold
Amanda Leathers

Upland Real Estate Group, Inc.

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  • 72 Listings
  • 10589 Views
  • 16 Sold

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 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.

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  • 72 Listings
  • 10589 Views
  • 16 Sold

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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