Medical Office Building
For Sale
Contact for pricing
1702 Oak Park Blvd, Lake Charles, LA 70601
Former dental practice ideal for medical facility near hospital.
Property Size5,500 SF
Price / SF$200
Days on Market1134
Property Features for 1702 Oak Park Blvd
General Information
Standard status
Active
Size
5,500 SF
Class
B
Total Parking Spaces
44
Property subtype
Office
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Castle Real Estate, Inc.
(337) 570-2427
Listed By:
Gregory Bruce · License #52613
Source:
Crexi
Added: Jul 26, 2023
Changed: Aug 25
Last Checked: Aug 29 at 11:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Castle Real Estate, Inc.
Investment Insights
Based on property information with market context.
This commercial building, formerly Acadian Dental, is suitable for another dental practice or medical facility. The building has high visibility and accessibility, making it suitable for medical professionals serving the local community. Its proximity to the hospital may ensure a flow of potential patients. The space is thoughtfully designed and well-maintained. The layout offers a versatile floor plan that can be customized. The building is move-in ready. This property offers a turnkey solution to begin serving patients. The lot size and total square footage are estimated and should be verified. The property is located in close proximity to a healthcare institution. The property is located at 1702 Oak Park Blvd, Lake Charles, LA 70601. The property size is 5500 square feet.
Key Highlights
- Prime location with high visibility and easy accessibility, ideal for attracting patients.
- Proximity to the hospital ensures a steady flow of potential patients.
- Thoughtfully designed and well‑maintained space, previously used as a dental practice.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,765
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,455,300
$1.5M
Cap Rate 7%
$1,039,500
$1.0M
Cap Rate 9%
$808,500
$808.5K
Market Conditions
NOI Build-Up for 5,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.6K $25.20/SF
− Vacancy
−$17.3K −$3.15/SF
EGI
$121.3K $22.05/SF
− OpEx
−$48.5K −$8.82/SF
NOI
$72.8K $13.23/SF
Area
Calcasieu County, LA
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,455,300
Cap Rate 7%
$1,039,500
Cap Rate 9%
$808,500
Alternative Uses
Best Use
Healthcare Medical
$1.04M
$909.6K – $1.21M
NOI $72,765 @ 7.0% cap · market cap 6.62%
Second Best
Office B
$689.5K
$603.3K – $804.4K
NOI $48,263 @ 7.0% cap · market cap 4.39%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.38M
NOI $82,987 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former dental practice ideal for medical facility near hospital.
Where is this medical office space located?
The property is located at 1702 Oak Park Blvd Lake Charles, LA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime location with high visibility and easy accessibility, ideal for attracting patients.; Proximity to the hospital ensures a steady flow of potential patients.; Thoughtfully designed and well‑maintained space, previously used as a dental practice.
