St. Joseph Hospice

923 West Pinhook Road, Lafayette, LA 70503

$7,545,306

Cap Rate 6.40%

Views: 50 Updated: 08.21.24 Posted: 05.14.24 Status: Inactive 08.21.24

Summary

Price $7,545,306	Built/Renov 2016	Tenant St. Joseph Hospice
Cap Rate 6.40%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 17,409	Lease Start 03-18-2022	#Units 15
Price/SF $433.41	Expiration 03-17-2037	Tenant Type Medical/Health
NOI $482,900	R. Term 12.3	Ownership Fee Simple
Rent/SF $27.74	Increases 2.0%/1/yrs	Pop 5Mi 125,723
Lot/AC 1.60	Options 2/5yrs/2%	AHHI 5Mi $86,188

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 Pinhook Road, and near Highway 90 where traffic counts average 54,522 VPD. The site is surrounded by popular national tenants such as Tropical Cafe, Circle K, Dollar Tree, O'Reilly Auto Parts, Burger King, and others. The 5-mile trade area is supported by a population of 125,723 residents with an average household income of $86,188. Lafayette is...

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Key Features

Build to suit
Dense retail corridor
Strategically located
Highway close
Strong demographics
Major MSA
Absolute NNN
Long 10+ yr lease
Annual rent increases
Corporate Guarantee

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Links

St. Joseph Hospice Wikipedia Lafayette, Louisiana Zip Code 70503 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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	5,304	60,793	129,370
2024 Total Population :	5,237	59,565	126,222
2024 Employed Civilian Pop :	2,848	28,745	62,064
2024 Total Businesses :	1,590	6,743	11,154
2024 Average Household Income :	$ 89,011	$ 77,261	$ 82,220
2024 Total Consumer Spending :	$ 194 M	$ 1829 M	$ 4022 M
2024 Median Age :	33	38	38
2024 Total Households :	2,476	26,740	55,396
2024 Pop Age 25+: Bachelor's Degree :	1,090	10,074	22,792
2024 Average Home Value :	$ 431,984	$ 346,362	$ 312,377

*ESRI data is presented for informational purposes only

Listing Broker

Deb Vannelli

Upland Real Estate Group, Inc.

Contact

68 Listings
6231 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

68 Listings
6231 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

68 Listings
6231 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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