For Sale
$3,845,000

108 Westover DrThibodaux, LA 70301

6,520 SF, 5.90% Cap Rate, Corporate Guarantee

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 6,520-square-foot, Class A, freestanding medical building in Thibodaux, Louisiana. The property, built in 2017, is currently 100% occupied by Fresenius Medical Care under a net lease with a corporate guarantee. The lease, commencing September 30, 2017, has a remaining term of nine years, with three five-year renewal options. Annual rent escalations are 1.7% during the initial term and 2% during the renewal options, providing a hedge against inflation. The property boasts a strong 5.90% capitalization rate and a Net Operating Income (NOI) of $226,878. The tenant is responsible for most operating expenses, including property taxes, insurance, utilities, and maintenance (up to $2,500 per HVAC repair). Landlord responsibilities are limited to structural repairs exceeding $2,500, roof replacement, and parking lot maintenance. Situated on a 1.45-acre lot at 108 Westover Dr, Thibodaux, LA 70301, this single-story building benefits from its location in a high-traffic retail area alongside major national retailers. This investment offers a secure, long-term income stream backed by a financially stable, investment-grade tenant. The property's recent construction minimizes potential repair costs, making it an attractive option for investors seeking a low-maintenance, high-return asset in the essential healthcare sector.

Highlights

  • Corporate guarantee from Fresenius Medical Care Holdings, Inc.
  • Lease features 1.7% annual rent escalations initially, increasing to 2% during three 5-year renewal options.
  • Located in a high-traffic retail area with national retailers like Lowe's and Walmart.
  • Tenant responsible for most operating expenses, including taxes, insurance, and utilities; landlord responsible for structural repairs over $2,500, roof, and parking lot.
  • 2017 construction minimizes future repair costs.
  • Investment in essential healthcare business, providing stability in current market conditions.

Property Details for 108 Westover Dr

Property type
Retail properties, NNN properties
Square Feet
6,520 SF
Class
A
Year Built
2017
Buildings
1
Stories
1
Lot Size (sq. ft)
63,162 SF
Units
1

Location Insight

City
Thibodaux
County
Lafourche Parish
State
Louisiana
Latitude
29.811513758465
Longitude
-90.818296331538
108 Westover Dr, Thibodaux, Louisiana

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108 Westover Dr
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