923 Pinhook RdLafayette, LA 70503

Property Details for 923 Pinhook Rd

Year built

2014

Lot size

1.60 AC

Property size (Sq ft)

17,409 SF

Property type

Office properties

Property subtype

Other office properties

APN

6043202

APU

6043202

Description

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

• CAP approach

  CAP return

  Valuation

  6%

  $2,385,436

  6.5%

  $2,201,940

  7%

  $2,044,659

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,288,207

  Geo Method

  $5,212,080

• Alternative Use

  Use

  Valuation

  Residential

  $2,730,406

  Hospitality

  $2,501,038

  Educational

  $2,080,834

  Medical

  $2,152,397

  Retail

  $3,236,853

Location Insight

City

Lafayette

County

Lafayette

State

Louisiana

Latitude

30.2045

Longitude

-92.0125

CBSA code

29180

CBSA name

LAFAYETTE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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