Aspen Dental & Urgent Care - New Iberia, LA

Page 1

NEW IBERIA, LA LAFEYETTE (MSA) ASPEN DENTAL/URGENT CARE ADAM GOTTSCHALK STRIVE Partner (469) 844-8890 AGottschalk@STRIVEre.com SCOTT REID ParaSell Inc. (949) 942-6578 scott@parasellinc.com LA License #995705727 In association with

Aspen Dental/Urgent Care

2 FINANCIAL ANALYSIS ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA PRICING & FINANCIAL ANALYSIS OFFERING SUMMARY Price $4,775,000 Cap Rate 6.30% Net Operating Income $300,720 Price PSF $649.66 Occupancy 100% Year Built 2017 Gross Leasable Area 7,350 SF Lot Size 0.983 Acres
1050 E Admiral Doyle Dr New Iberia, LA 70560
3 FINANCIAL ANALYSIS ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA PRICING & FINANCIAL ANALYSIS PROJECTED INCOME & EXPENSES CURRENT PSF Base Rent - Occupied Space 100% $297,220 $40.91 Base Rent - Lease Up Space -Base Rent - Billboard Rent $3,500 $0.48 GROSS POTENTIAL RENT $300,720 $40.91 Expense Reimbursements Real Estate Taxes $10,024 $1.36 Insurance $1,629 $0.22 CAM $6,491 $0.88 Management Fee 3.00% $9,850 $1.34 Total Expense Reimbursements $27,994 $3.81 GROSS POTENTIAL INCOME $328,714 $44.72 EFFECTIVE GROSS REVENUE $328,714 $44.72 Operating Expenses Real Estate Taxes ($10,024) ($1.36) Insurance ($1,629) ($0.22) CAM ($6,491) ($0.88) Management Fee 3.00% ($9,850) ($1.34) Total Recoverable Expenses ($27,994) ($3.81) Net Operating Income $300,720 $40.91 EXPENSES CURRENT PSF Real Estate Taxes $10,024 $1.36 Insurance $1,629 $0.22 Total CAM $6,491 $0.88 Management Fee 3.00% $9,850 $1.34 Total Expenses $27,994 $3.76
Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com
For Financing Options, Please Contact:
4 FINANCIAL ANALYSIS ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA RENT ROLL Suite Tenant SQ FT % of SQFT Start End Annual Rent PSF Escalation Date Escalation Amount Options Lease Type A Aspen Dental 3500 47.62% 11/30/2017 11/30/2027 $161,700 $46.20 12/01/2027 $50.82 3 x 5 NNN B SouthStar Urgent Care 3850 52.38% 08/01/2018 08/31/2028 $135,520 $35.20 09/01/2028 $38.72 2 x 5 NNN BB Billboard 0 - 08/25/2017 01/31/2032 $3,500 - - - -Occupied 7,350 100.00% $300,720 $40.91 $330,442 Vacant 0Total 7,350 100.00% Aspen: 5% Non-Cumulative Cap on CAM. 10% Admin Fee Urgent Care: 5% Cumulative Cap on CAM. 15% Admin Fee

DBA

Aspen Dental

Corporate/Franchise Franchise

Locations

1000+ Nationwide

Public/Private Private

Line of Business

You have a lot of choices when it comes to dental care. At Aspen Dental, we’re dedicated to providing the most supportive and skilled dental care possible, so you can enjoy excellent oral health. Aspen Dental practices are committed to treating patients with the compassion and respect they deserve. The practices believe in providing comprehensive care that addresses both your short and long-term dental care needs, from dental implants to general dental services, and promise to provide an honest, judgment-free environment where it all comes down to great care.

DBA

South Star Urgent Care

Corporate/Franchise Franchsie

Locations

30+

Public/Private Private

Line of Business

Founded in 2011, SouthStar Urgent Care is a leading provider of Urgent Care services throughout Louisiana. With over thirty clinics, we aim to serve our patients and be part of the local community. Our Promise is simple: We Deliver Care That Is Personal. We treat our patients how we would like to be treated. Sure that sounds simple, but there are some in the healthcare industry that don’t seem to operate that way. We make Our Promise the focal point of all that we do…and it shows. From aches to X-rays, Southstar Urgent Care offers a wide range of urgent care and occupational medicine services. Our services are available to patients of all ages and our clinics are open after hours seven days a week for your convenience.

5 PROPERTY DESCRIPTION ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA TENANT INFORMATION

• Located on the Hard Corner of the Highest Trafficked Thoroughfares in New Iberia – Admiral Doyle Dr & Lewis St – A Combined VPD of 26,310

• Both Tenants Have NNN Leases That Allow Full Pass Through of Expenses to the Tenants for Reimbursement

• 2 Tenant Retail Strip with Ease of Management and Leasing Along with Staggard Lease Terms from Both Tenants

• New Iberia Serves as a Hub for Various Industries, Including Energy, Agriculture, Manufacturing, and Healthcare. Some of the Prominent Employers in New Iberia Include:

1. Energy Sector: With its Proximity to the Gulf of Mexico, New Iberia Plays a Significant Role in the Oil and Gas Industry. Many Companies Involved in Offshore Drilling and Oilfield Services Have a Presence in the Area, Providing Employment Opportunities for Engineers, Technicians, and Skilled Laborers.

• 2. Agriculture and Food Processing: New Iberia Benefits from the Fertile Lands of the Surrounding Region, Which Support a Thriving Agricultural Sector. The City is Known for its Sugarcane Farms and Rice Production. Additionally, Food Processing Facilities Contribute to the Local Economy, Creating Jobs in Areas Such as Food Manufacturing and Distribution.

• 3. Manufacturing: New Iberia Hosts a Range of Manufacturing Facilities, Including Those Specializing in Machinery, Metal Fabrication, and Electronics. These Industries Offer Employment Opportunities for Engineers, Technicians, and Skilled Workers.

• 4. Healthcare: The City is Home to Various Healthcare Facilities, Including Hospitals, Clinics, and Specialized Medical Centers. These Institutions Provide a Wide Range of Healthcare Services, Attracting Healthcare Professionals to the Area.

• Surrounding Retailers Include: Walmart, Walgreens, Ross Dress for Less, TJMaxx, Hobby Lobby, Starbucks, McDonald's, Raising Canes, and Much More

6 PROPERTY DESCRIPTION ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA INVESTMENT HIGHLIGHTS
7 PROPERTY DESCRIPTION SITE PLAN
E Admiral Doyle Dr (14,529 VPD) S Lewis St (11,781 VPD)
8 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA AERIAL MAP 14,529 VPD E ADMIRAL DOYLE DR
1050 E Admiral Doyle Dr
NEW IBERIA SENIOR HIGH SCHOOL
9 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA AERIAL MAP EADMIRALDOYLEDR SLEWISST 11,781VPD 14,529VPD
1050 E Admiral Doyle Dr
10 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA LOCAL MAP
11 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA REGIONAL MAP

Lafayette, LA

OVERVIEW

As the largest city in Lafayette Parish, Lafayette, Louisiana mixes all the amenities of urban life, including universities and medical centers, with the unmistakable influence of the region’s venerable Cajun and Creole cultures. Visitors can learn about the area’s roots by touring either the Acadian Cultural Center or Vermilionville. Built as 19th century bayou villages, each folk life center operates as an interactive museum. This heritage is still prominent in the city’s lifestyle cultural traditions.

Lafayette is said to have more restaurants per capita than any other American city, and many of them specialize in the distinctive, seafoodladen regional cuisine. Numerous music clubs feature homegrown talent, including both traditional and contemporary Cajun and Zydeco performers. Two popular festivals, Festival International de Louisiane in April and Festivals Acadiens in October, draw many thousands of

visitors to town and anchor a calendar year full of celebrations of the area’s vibrant culture.

Lafayette may be known for its special charm and joie de vivre, but the city’s education rates, and median income are what earned it a topthree ranking among the best places to live in Louisiana this week by ChamberOfCommerce. org, an online business resource.

Lafayette was ranked third by ChamberOfCommerce.org, behind Mandeville and Covington, based on five factors that the organization uses to judge quality of life. Lafayette was the largest city in the state to reach a top 5 spot in ChamberOfCommerce.org's rankings.

12 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA MARKET SUMMARY
13 MARKET OVERVIEW ASPEN DENTAL/URGENT CARE - NEW IBERIA, LA DEMOGRAPHIC STATISTICS Demographic data © CoStar 2021 1 Mile 3 Mile 5 Mile Population 2010 Population 5,843 34,130 48,764 2020 Population 5,322 31,394 45,920 2025 Population Projection 5,183 30,641 45,047 Median Age 38.2 37.9 38.4 Bachelor's Degree or Higher 12% 15% 14% U.S. Armed Forces 0 0 0 Population by Race White 2,393 16,732 27,523 Black 2,643 13,013 15,969 American Indian/Alaskan Native 23 165 258 Asian 118 831 1,229 Hawaiian & Pacific Islander 9 30 34 Two or More Races 136 624 907 Hispanic Origin 299 1,388 1,981 Housing Median Home Value $81,249 $105,960 $122,194 Median Year Built 1967 1968 1973 1 Mile 3 Mile 5 Mile Households: 2010 Households 2,283 12,961 18,234 2020 Households 2,085 11,948 17,187 2025 Household Projection 2,031 11,663 16,857 Owner Occupied 1,139 7,222 11,342 Renter Occupied 892 4,440 5,515 Avg Household Size 2.5 2.6 2.7 Avg Household Vehicles 1 2 2 Total Consumer Spending $48.9M $296.3M $459.4M Income Avg Household Income $57,769 $58,665 $65,378 Median Household Income $52,573 $44,846 $52,196 < $25,000 581 4,077 5,310 $25,000 - 50,000 426 2,094 3,016 $50,000 - 75,000 638 2,390 3,205 $75,000 - 100,000 160 1,214 1,858 $100,000 - 125,000 74 1,054 1,587 $125,000 - 150,000 23 626 1,204 $150,000 - 200,000 180 326 596 $200,000+ 2 167 411

CONFIDENTIALITY AGREEMENT

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Commercial Disclaimer

STRIVE hereby advises all prospective purchasers of commercial property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:

• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):

• Put the interests of the client above all others, including the broker ’s own interests;

• Inform the client of any material information about the property or transaction received by the broker;

• Answer the client’s questions and present any offer to or counter-offer from the client; and

• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer ’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller ’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:

• Must treat all parties to the transaction impartially and fairly;

• May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and

• buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose:

ӽ that the owner will accept a price less than the written asking price;

ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and

ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY

• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

ESTABLISH:

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

available at www.trec.texas.gov

Information
IABS 1-0
469.844.8880 STRIVERE.COM exclusively listed in association with ParaSell Inc. 949.942.6585 PARASELLINC.COM LA LICENSE #995705727

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.