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29645501
29645500

971 Robert Blvd, Slidell, LA 70458

CB
Fl SL3424071
Marcus & Millichap - Orlando
SK
FL FL SL3508957
Marcus & Millichap - Orlando
Listed by Marcus & Millichap - Orlando
$2,300,000
117 days on market
Updated 78 days ago

Coastal Urgent Care

Details
Property Type Office
Sub Type Medical Office
Square Footage 6,161
Units 1
Cap Rate 8.04%
NOI $184,830
Occupancy 100%
Tenancy Single
Brand/Tenant Coastal Urgent Care
Lease Type NN
Lease Term 9.9
Lease Expiration 05/31/2032
Remaining Term 6
Rent Bumps Yes
Lease Options (3) 5 year options
Price per SqFt $373
Year Built 2022
Buildings 1
Stories 1
Acreage 1.500
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/30/2022
Occupancy Date 06/30/2022

Office | 8.04% CAP | 6,161 SqFt

Investment highlights

• Long Term Lease with Multiple Options to Renew

- 6 Years Remaining on Initial 10 Year Term with (3) 5 Year Options

• 2022 Construction Offered Below Replacement Cost

- $373 PPSF | Property Kept in Immaculate Condition

• Well Positioned with Frontage on Main Thoroughfare

- Excellent Visibility with Access at Lighted Intersection

• Strategically Located within Market

- Multiple Schools in Immediate Vicinity of Property

• Located in Highly Concentrated Medical Corridor

- Outparcel to Sterling Surgical Hospital

• Low Expiring Rent/Sf Provides Safety for Investor

- $30/SF Rental Rate at Expiration of Current Term in 2032

• Large Footprint is Adaptive for Multiple Medical Uses

- 6,161 SF Building with Covered Drop Off and Ample Parking

• Consistently Growing Population in 3,5- and 10-Mile Radius

- Population Growth Projected to continue Through 2030

• Significant Industry in Submarket and Surrounding Markets

- Home to The Greenbrier Companies, NuCore, Lockheed Martin and more including John C. Stennis Space Center

Listing Contacts

CB
Fl SL3424071
Marcus & Millichap - Orlando
SK
FL FL SL3508957
Marcus & Millichap - Orlando
Listed by Marcus & Millichap - Orlando

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$184,830.00
$15,402.50/mo

Valuation Metrics

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DSCR
8.04%
Cap Rate
8.04%
ROI

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Additional Information

Name
Steve Greer
License
LA BROK.995710346-ACT
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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