For Sale
$7,545,306

923 Pinhook RdLafayette, LA 70503

High-yield NNN retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 17,409-square-foot retail property in Lafayette, Louisiana, currently leased to St. Joseph Hospice, part of The Carpenter Health Network. The property boasts a strong 6.40% cap rate and a substantial net operating income (NOI) of $482,899. Situated on a 1.6-acre lot at 923 W Pinhook Rd, 70503, this NNN lease features a remaining term of 12.3 years, extending to March 17, 2037, with built-in 2% annual rent increases. The property benefits from a prime location near Highway 90, experiencing high traffic counts averaging 54,522 vehicles daily, and enjoys proximity to major retailers such as Walmart, Dollar General, and Starbucks, as well as significant healthcare infrastructure including the Ochsner Lafayette General Medical Center (334+ beds) and the University of Louisiana (16,200+ students). The lease commenced March 18, 2022, and includes two 5-year renewal options, each with 2% annual rent increases. St. Joseph Hospice provides inpatient hospice care with 16 rooms, catering to a significant local need. The property's strong tenant, favorable lease terms, and strategic location make it an attractive investment opportunity within a thriving market boasting a 5-mile population of 126,222 and an average household income of $82,220. The building was constructed in 2016 and currently enjoys 100% occupancy. This is a land, building, and long-term lease investment

Highlights

  • 17,409 SF retail property in Lafayette, LA, on a 1.6-acre lot, currently 100% occupied by St. Joseph Hospice under a NNN lease with over 12.5 years remaining.
  • NNN lease features 2% annual rent increases and two 5-year renewal options.
  • Strong tenant, St. Joseph Hospice, part of The Carpenter Health Network, a well-established healthcare operator with 38 locations.
  • Prime location near Highway 90 (54,522 VPD), Walmart, Dollar General, Starbucks, Ochsner Lafayette General Medical Center (334+ beds), and University of Louisiana (16,200+ students).
  • Strong demographics: 5-mile population of 126,222 with an average household income of $82,220.

Property Details for 923 Pinhook Rd

Property type
Retail properties, Medical space
Square Feet
17,409 SF
Year Built
2016
Lot Size (sq. ft)
69,696 SF

Location Insight

City
Lafayette
County
Lafayette Parish
State
Louisiana
Latitude
30.204516
Longitude
-92.012344
923 Pinhook Rd, Lafayette, Louisiana

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923 Pinhook Rd
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