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Single-Tenant Office Medical

New Iberia Rehabilitation Hospital

532 Jefferson Terrace, New Iberia, LA 70560

Listing Price: $7,793,000

Cap Rate
7.55%
Tenant Name
New Iberia Rehabilitation Hospital
Years Remaining On Lease
3.9
Gross SF
17,910
Guarantor
Limited Corporate Guarantee
Rentable SF
17,910
Price/Gross SF
$435.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.85

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of Iberia Rehabilitation Hospital in New Iberia, Louisiana. This rehab hospital is located at 532 Jefferson Terrace on a 2.7-acre plot of land with 17,910-rentable square feet. The hospital entered a seven-year lease agreement in 2019 with five years remaining. This is an absolute triple net lease with no landlord responsibilities. The current annual rent is $588,349 and there will be annual increases based on the CPI-U index throughout the remainder of the term. There are also two, five-year renewal options. MDA, LLC has operated at this hospital since 2009, with this being the operator’s flagship location. The hospital is a rehabilitation center as well as a teaching hospital. They provide acute care over a long term. Iberia Rehabilitation Hospital was recognized by Centers for Medicare & Medicaid Services (CMS) as one of modern hospitals which are scientifically measured and assessed to have high quality health care services for promoting health and improving the quality of life. The location is in a strong medical corridor surrounded by both a general hospital and emergency center. New Iberia is a highly residential town with almost 18,000 households within five miles of the property.

Investment Highlights

  • Passive NNN Lease Structure Which Eliminates Close to all Landlord Responsibilities - Tenant Self Manages the Property
  • Attractive Renewal Options Two, 5-Year Options with Annual CPI Increases
  • Synergistic Surrounding Medical Professionals
  • Strong Commitment to the Site with 16-year Operating History
  • Attractive Annual Rent Escalations Based on CPI Increase (No CAP on Increase)
  • Less Than 1.8-Miles Away from Both Iberia Medical Center Main Campus and North Campus Hospitals

Exclusively Listed By

Single-Tenant Office Medical

New Iberia Rehabilitation Hospital

Listing Price: $7,793,000

Cap Rate
7.55%
Tenant Name
New Iberia Rehabilitation Hospital
Years Remaining On Lease
3.9
Gross SF
17,910
Guarantor
Limited Corporate Guarantee
Rentable SF
17,910
Price/Gross SF
$435.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.85

Investment Highlights

  • Passive NNN Lease Structure Which Eliminates Close to all Landlord Responsibilities - Tenant Self Manages the Property
  • Attractive Renewal Options Two, 5-Year Options with Annual CPI Increases
  • Synergistic Surrounding Medical Professionals
  • Strong Commitment to the Site with 16-year Operating History
  • Attractive Annual Rent Escalations Based on CPI Increase (No CAP on Increase)
  • Less Than 1.8-Miles Away from Both Iberia Medical Center Main Campus and North Campus Hospitals

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of Iberia Rehabilitation Hospital in New Iberia, Louisiana. This rehab hospital is located at 532 Jefferson Terrace on a 2.7-acre plot of land with 17,910-rentable square feet. The hospital entered a seven-year lease agreement in 2019 with five years remaining. This is an absolute triple net lease with no landlord responsibilities. The current annual rent is $588,349 and there will be annual increases based on the CPI-U index throughout the remainder of the term. There are also two, five-year renewal options. MDA, LLC has operated at this hospital since 2009, with this being the operator’s flagship location. The hospital is a rehabilitation center as well as a teaching hospital. They provide acute care over a long term. Iberia Rehabilitation Hospital was recognized by Centers for Medicare & Medicaid Services (CMS) as one of modern hospitals which are scientifically measured and assessed to have high quality health care services for promoting health and improving the quality of life. The location is in a strong medical corridor surrounded by both a general hospital and emergency center. New Iberia is a highly residential town with almost 18,000 households within five miles of the property.

Exclusively Listed By

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