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NNN ASC | $70k Buyside | Seller Finance 4407 Highway 190 East Service Rd

8,446 SF Office Building Covington, LA 70433 $3,440,361 CAD ($407 CAD/SF) 8.50% Cap Rate

Medical Offices Louisiana Covington 4407 Highway 190 East Service Rd, Covington, LA 70433

Investment Highlights

  • Maintain a “hands-off” approach with this asset’s NNN lease calling for the tenant to cover expenses such as taxes, insurance, and maintenance.
  • Offered at a favorable 8.50% cap rate, this is an excellent opportunity to acquire a specialized, health system affiliated facility
  • Highway 190 Service Road provides direct access to Highway 190 (50,500 VPD)
  • Ambulatory surgery centers provide a high likelihood of long-term tenancy due to high-cost buildouts, and extensive licensing approvals.
  • Our Lady of the Lake Pontchartrain Surgery Center is a multi-specialty surgery center with two (2) ORs and one (1) procedure room
  • This location was rated as a Top ASC both in Louisiana and across the US

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
8,446 SF
Building Class
B
Year Built
2008
Price
$3,440,361 CAD
Price Per SF
$407 CAD
Cap Rate
8.50%
NOI
$292,431 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,446 SF
Building FAR
0.19
Land Acres
1.00 AC
Zoning
HC2

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Our Lady-Lake Pontchartrain
  • Health Care and Social Assistance
  • 8,446 SF
  • -
  • Net
  • Aug 2027
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Our Lady-Lake Pontchartrain Health Care and Social Assistance 8,446 SF - Net Aug 2027

Links

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PROPERTY TAXES

Parcel Number 54690 Improvements Assessment $252,267 CAD
Land Assessment $70,282 CAD Total Assessment $322,549 CAD

PROPERTY TAXES

Parcel Number
54690
Land Assessment
$70,282 CAD
Improvements Assessment
$252,267 CAD
Total Assessment
$322,549 CAD
(470) 242-0547

  • Listing ID: 31684047

  • Date on Market: 2024-05-02

  • Last Updated:

  • Address: 4407 Highway 190 East Service Rd, Covington, LA 70433

The Office Property at 4407 Highway 190 East Service Rd, Covington, LA 70433 is currently available For Sale. Contact Matthews Real Estate Investment Services for more information.

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NNN ASC | $70k Buyside | Seller Finance | 4407 Highway 190 East Service Rd
(470) 242-0547 x

NNN ASC | $70k Buyside | Seller Finance | 4407 Highway 190 East Service Rd

1/3

Ryan Burke

(470) 242-0547

(470) 242-0547

Rahul Chhajed

(949) 432-4513

(949) 432-4513

Michael Moreno

(949) 432-4511

(949) 432-4511

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