64040 La-434Lacombe, LA 70445

Property Details for 64040 La-434

Year built

2004

Lot size

0.98 AC

Property size (Sq ft)

77,087 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional value-add investment opportunity comprises two Class B medical office buildings totaling 77,087 square feet, situated on a 0.98-acre lot in Lacombe, Louisiana. Built in 2004 and 2009, these buildings boast high-end common area finishes and offer 258 parking spaces per 1,000 square feet. Currently, the property is 30.2% occupied by three tenants, including Fresenius and Lakeview Regional Physician Group, with an occupancy date of October 1, 2024. The Net Operating Income (NOI) is $53,931. One building is fee simple, while the other is subject to a ground lease expiring June 30, 2106 (82 years remaining). The property benefits from a strategic location on the Northshore Rehabilitation Hospital campus, a 30-bed acute care facility. Leases include 2.15% weighted escalations. This presents a unique chance to acquire below replacement cost, allowing for incentivized leasing to achieve stabilization. The property is offered free and clear of debt. Property tax parcel numbers are 121-140-5709 and 121-140-2371. The current ownership is Ventas, Inc. This is a multi-tenant property with significant upside potential.

Location Insight

City

Lacombe

County

St. Tammany Parish

State

Louisiana

Latitude

30.3588

Longitude

-89.9163

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