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Single-Tenant Office Medical

New Iberia Rehabilitation Hospital

532 Jefferson Terrace, New Iberia, LA 70560

Listing Price: $7,527,000

Cap Rate
7.75%
Tenant Name
New Iberia Rehabilitation Hospital
Years Remaining On Lease
5.0
Gross SF
17,910
Guarantor
Limited Corporate Guarantee
Rentable SF
17,910
Price/Gross SF
$420.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.42

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 $580,593 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. 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
  • Strong Renewal Options
  • 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: $7,527,000

Cap Rate
7.75%
Tenant Name
New Iberia Rehabilitation Hospital
Years Remaining On Lease
5.0
Gross SF
17,910
Guarantor
Limited Corporate Guarantee
Rentable SF
17,910
Price/Gross SF
$420.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.42

Investment Highlights

  • Passive NNN Lease Structure Which Eliminates Close to all Landlord Responsibilities - Tenant Self Manages the Property
  • Strong Renewal Options
  • 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 $580,593 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. 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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