For Sale
$4,426,951

131 Corporate Dr Houma, LA 70360

Dual-tenant medical office, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a 10,119 square foot, dual-tenant medical office complex situated on a 1.19-acre lot in Houma, Louisiana. The property comprises two buildings constructed in 2004 and 2012, currently boasting 100% occupancy. The primary tenant, a subsidiary of UnitedHealth Group, operates under a corporate lease with over 6 years remaining and renewal options. A second tenant, a local urgent care pharmacy, will execute a new 10-year absolute NNN lease upon closing, featuring annual rent increases and renewal options. This investment offers a compelling 7.16% cap rate and benefits from a prime location near a major retail corridor with high traffic volume and strong consumer presence. The property's location provides excellent visibility and accessibility, further enhanced by its proximity to national retailers. The urgent care industry's consistent growth and the strength of the tenant's financial standing make this a highly attractive, recession-resistant investment. The weighted average lease term (WALT) is 6.1 years, providing long-term stability and predictable income streams. This is a rare opportunity to acquire a well-positioned, high-performing medical office property with significant upside potential.

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

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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131 Corporate Dr
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