131 Corporate Dr Houma, LA 70360
Dual-tenant medical office, strong lease terms.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 136
Highlights
- 10,119 SF dual-tenant medical office complex on a 1.19-acre lot in Houma, LA, built in 2004 and 2012, currently 100% occupied.
- Investment-grade tenancy with UnitedHealth Group subsidiary (NYSE: UNH) on a lease with over 5 years remaining and renewal options, plus a new 10-year absolute NNN lease with a local urgent care pharmacy upon closing, including annual rent increases and renewal options.
- Prime location near a major retail corridor with high traffic volume (40,000+ VPD) and proximity to national retailers like Walmart and Home Depot.
- High-growth, recession-resistant urgent care industry with a 7.16% cap rate and a 6.1-year weighted average lease term (WALT).
- Strong tenant financial standing and significant upside potential.
Property Details for 131 Corporate Dr
- Property type
- Office properties, Medical offices
- Square Feet
- 10,119 SF
- Year Built
- 2004
- Buildings
- 2
- Lot Size (sq. ft)
- 51,836 SF
Location Insight
- City
- Houma
- County
- Terrebonne Parish
- State
- Louisiana
- Latitude
- 29.5986812
- Longitude
- -90.7472496
Nearby Similar for Sale
FAQs
- What type of property is this?
- Office property - Dual-tenant medical office, strong lease terms.
- Where is the office property located?
- The property is located at 131 Corporate Dr Houma, LA.
- What is the asking price?
- The asking price for this property is $4,426,951.
- What are key features of this property?
- This property features: 10,119 SF dual-tenant medical office complex on a 1.19-acre lot in Houma, LA, built in 2004 and 2012, currently 100% occupied.; Investment-grade tenancy with UnitedHealth Group subsidiary (NYSE: UNH) on a lease with over 5 years remaining and renewal options, plus a new 10-year absolute NNN lease with a local urgent care pharmacy upon closing, including annual rent increases and renewal options.; Prime location near a major retail corridor with high traffic volume (40,000+ VPD) and proximity to national retailers like Walmart and Home Depot.
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