Multi-Tenant Medical Facility

Special Purpose for Sale
Also listed as Office, Hospitality
Catylist Listing ID: 30671986
Property Subtypes: Health Care/Medical
Building Size (RSF): 93,368 SF
Gross Building Area: 120,068 SF
Gross Land Area: 8.10 Acres
Sale Price: $11,000,000
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 120,068 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2021

Overview / Comments

Stirling Properties is pleased to offer this six-story medical facility on +/-8.1 Acres in the New Orleans market. Located on the West Bank with over 1251 linear feet of frontage on General De Gaulle Dr. this facility has great visibility and access to the surrounding community. Property is for sale as a value-add investment or end-user acquisition. Original Plans as well as Renovation Plans can be made available per request.

CURRENT TENANTS:
Seaside Behavioral (16,275 SF)
St. Luke's Living Center (51,372 SF)
NOLA Detox and Recovery Center (15,636 SF)
Vacant Space (10,085 SF)

BUILDING AMENITIES:
-Full Kitchen
-Dining Room
-Multiple Chapels
-Conference Room
-Meeting Rooms

Additional Info is available upon request and provided following the execution of an NDA. Further information includes: Site Plans, Rent Roll, OPEX, etc.

Current Tenants

Tenant Business Name St. Luke's Medical Center
SF of Space Occupied 51,372 SF
Tenant Business Name Seaside Healthcare
SF of Space Occupied 16,275 SF
Tenant Business Name NOLA Detox and Recovery Center
SF of Space Occupied 15,636 SF

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Westbank
Tax ID/APN: 41139000
Zoning: EC - COMMERCIAL CENTER AND INSTITUTIONAL CAMPUS DISTRICT
Property Visibility: Excellent
Largest Nearby Street: General De Gaulle Dr.
Feet of Frontage: 1,251
Traffic/Vehicle Count: 74,718
Highway Access: Access directly off General De Gaulle Dr and Woodland Ave.
Airports: New Orleans International
Site Description: The Medical facility is 120,068 total SF comprised of a six story structure that connects with a single level annex area. As currently used, the complex has 93,368 square feet of rentable area, with the balance being common space.
Total Number of Buildings: 1
Number of Stories: 6
Property Condition: Fair
Year Built: 1973
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: +/-96 Surface spaces between the front main lot and the rear employee lot
Passenger Elevators: 2
Freight Elevators: 1
Sprinklers: Wet
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Zoning Description: COMMERCIAL CENTER AND INSTITUTIONAL CAMPUS DISTRICT: Commercial Center and Institutional Campus Districts represent the major destination areas within the city. They contain districts that address areas of commercial concentration and institutional campuses, and range from areas that are more pedestrian in orientation to those designed to accommodate significant parking demand. The types of commercial uses permitted within the Commercial Center and Institutional Campus Districts are based on a number of factors, including their proximity to residential areas, their location along major streets and the intensity of uses allowed within the districts. In addition to commercial districts that allow a variety of retail, personal service, office, and restaurant uses, specialized districts for large-scale users are also destination centers, such as hospital and university campuses. Finally, in certain districts a mixed-use environment is permitted where higher density residential uses and vertical mixed-use is encouraged. Commercial Center and Institutional Campus Districts contain regulations that create and maintain intensive mixed employment, shopping, and entertainment destination environments. Controls within the districts address proper scales of development based on the desired intensity of the district, including regulations on parking, landscape, and screening. CHARACTER OF THE COMMERCIAL CENTER AND INSTITUTIONAL CAMPUS DISTRICTS The character of the Commercial Center and Institutional Campus Districts is defined by: » Concentrations of retail, service, office, and entertainment uses both along major thoroughfares and at commercial nodes » A variety of commercial district types – from pedestrian-oriented commercial corridors to larger shopping centers » Large-scale campuses, such as hospitals and universities, that contain a variety of uses and activities on site » Mixed-use development, including residences above ground floor commercial and higher density dwelling types
Lot Frontage: 1251
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Tract 6801, Square One, Fifth Municipal District of the City of New Orleans, Orleans Parish, State of Louisiana

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,184 99,178 222,758
Median Age: 35.02 35.24 36
Households: 6,195 37,067 88,206

Contact

Photograph of Listing Agent

Bradley Cook, MS, CCIM

Stirling Properties
Covington, LA
LACDB Member
Photograph of Listing Agent

Melissa S Warren

Stirling Properties New Orleans Covington, LA
LACDB Member
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