8000 Summa AveBaton Rouge, LA 70809

Property Details for 8000 Summa Ave

Year built

1994

Property size (Sq ft)

27,720 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

1728040

APU

1728040

Description

This exceptional investment opportunity presents a 27,971 square foot medical office building in Baton Rouge, Louisiana, currently leased to Sage Rehabilitation Hospital, part of The Carpenter Health Network. The property boasts a strong 6.40% cap rate and a substantial net operating income (NOI) of $749,088. Situated on a 0.82-acre lot at 8000 Summa Ave, 70809, this single-tenant, NNN lease offers significant long-term stability with 12.3 years remaining on a 15-year lease, commencing March 17, 2022, and expiring March 16, 2037. The lease includes 2% annual rent bumps and two 5-year options with the same annual increase. Built in 1993 and renovated in 2007, the facility is strategically located near Our Lady of the Lake Regional Medical Center, a major hospital, and benefits from high daily traffic volume on Interstate 10. The 45-bed skilled nursing facility offers inpatient rehabilitation services, including a stroke program and LSVT Parkinson's program. The property's strong location within a thriving medical corridor, coupled with the long-term lease and built-in rent increases, makes this an attractive investment with a price per square foot of $418.45 and an asking price of $11,704,500. The surrounding area boasts a robust demographic profile, with a 5-mile population of 201,444 and a 3-mile average household income of $112,723. The property is not a business for sale

• CAP approach

  CAP return

  Valuation

  6%

  $4,826,044

  6.5%

  $4,454,810

  7%

  $4,136,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,277,484

  Geo Method

  $12,863,591

• Alternative Use

  Use

  Valuation

  Residential

  $4,454,810

  Hospitality

  $4,080,582

  Educational

  $3,394,996

  Medical

  $3,511,755

  Retail

  $5,281,105

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.4005

Longitude

-91.1039

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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