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Office Medical

Henry Performance Institute MOB

401 N College Rd, Lafayette, LA 70506

Listing Price: $2,300,000

Cap Rate
7.33%
Gross SF
12,259
Rentable SF
12,259
Price/Gross SF
$187.62
Occupancy
100.0%
Year Built
1980
Lot Size
0.96 acres

Investment Overview

Marcus and Millichap’s Healthcare Real Estate Group has been exclusively retained by ownership to offer qualified investors the opportunity to acquire the Henry Performance Institute of Acadiana (the “Property” or “Building”). The Property, totaling approximately 12,259 rentable square feet, is located in Lafayette, LA, recently ranked 3rd among best places to live in Louisiana by chamberofcommerce.org. Lafayette was the largest city in the state to reach a top 5 spot. The Property benefits from being situated in a busy medical and retail corridor with high visibility and easy access. The multi-specialty MOB is situated across the street from The University of Lousiana’s Athletic Facilities, offering a unique opportunity for tenants. The Property is 100% occupied and is anchored by Henry Orthopaedics. Other tenants include Darrell Henderson, M.D. who specializes in plastic surgery, physical therapy, and a home health operator. The orthopedic practice is led by founder and highly trained, board certified orthopaedic surgeon, Dr. Barry J. Henry. The orthopaedic clinical areas of the building are located on the ground floor and total 3,428 square feet. The plastic surgery practice, the second largest tenant in the building at 3,278 square feet is located on the second floor of the building. The Weighted Average Lease Term (W.A.L.T.) is 5 years. The adjacent proximity of the Property to The University of Louisiana - Lafayette as well as the neighboring University Hospital & Clinics and Lafayette General Medical Center will provide stability to the building and its tenants for many years to come. The Property also benefits from the traffic counts on College Road, which are the second highest in Acadiana Parish. As a patient, the Building provides many advantages and comfort that will continue to develop over time. A strong tenant base and the growing population creates an opportunity to invest in a Property with great benefit and highly sought-after value.

Investment Highlights

  • Strong Anchor Tenant - Dr. Henry will sign a 10-year lease with 2% annual escalations at closing.
  • Strategic Location - Property is located across the street from the U of Lousiana's athletic facilities offering a unique opportunity for a multi-specialty medical building such as this.
  • Value-Add - Offering provides investor the opportunity to create substantial value enhancement by restructuring the leases to NNN and bringing those leases below market to a market rate upon renewal.
  • Favorable Demographics - Property is located in one of the most affluent and fastest-growing Parishes in the state. The % of population aged 65+ is increasing rapidly.

Exclusively Listed By

Office Medical

Henry Performance Institute MOB

Listing Price: $2,300,000

Cap Rate
7.33%
Gross SF
12,259
Rentable SF
12,259
Price/Gross SF
$187.62
Occupancy
100.0%
Year Built
1980
Lot Size
0.96 acres

Investment Highlights

  • Strong Anchor Tenant - Dr. Henry will sign a 10-year lease with 2% annual escalations at closing.
  • Strategic Location - Property is located across the street from the U of Lousiana's athletic facilities offering a unique opportunity for a multi-specialty medical building such as this.
  • Value-Add - Offering provides investor the opportunity to create substantial value enhancement by restructuring the leases to NNN and bringing those leases below market to a market rate upon renewal.
  • Favorable Demographics - Property is located in one of the most affluent and fastest-growing Parishes in the state. The % of population aged 65+ is increasing rapidly.

Investment Overview

Marcus and Millichap’s Healthcare Real Estate Group has been exclusively retained by ownership to offer qualified investors the opportunity to acquire the Henry Performance Institute of Acadiana (the “Property” or “Building”). The Property, totaling approximately 12,259 rentable square feet, is located in Lafayette, LA, recently ranked 3rd among best places to live in Louisiana by chamberofcommerce.org. Lafayette was the largest city in the state to reach a top 5 spot. The Property benefits from being situated in a busy medical and retail corridor with high visibility and easy access. The multi-specialty MOB is situated across the street from The University of Lousiana’s Athletic Facilities, offering a unique opportunity for tenants. The Property is 100% occupied and is anchored by Henry Orthopaedics. Other tenants include Darrell Henderson, M.D. who specializes in plastic surgery, physical therapy, and a home health operator. The orthopedic practice is led by founder and highly trained, board certified orthopaedic surgeon, Dr. Barry J. Henry. The orthopaedic clinical areas of the building are located on the ground floor and total 3,428 square feet. The plastic surgery practice, the second largest tenant in the building at 3,278 square feet is located on the second floor of the building. The Weighted Average Lease Term (W.A.L.T.) is 5 years. The adjacent proximity of the Property to The University of Louisiana - Lafayette as well as the neighboring University Hospital & Clinics and Lafayette General Medical Center will provide stability to the building and its tenants for many years to come. The Property also benefits from the traffic counts on College Road, which are the second highest in Acadiana Parish. As a patient, the Building provides many advantages and comfort that will continue to develop over time. A strong tenant base and the growing population creates an opportunity to invest in a Property with great benefit and highly sought-after value.

Exclusively Listed By

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