Medical Office
For Sale
$374,000
2218 George Dr, Opelousas, LA 70570
Existing medical office suitable for professional or healthcare-related reuse.
Property Size2,822 SF
Price / SF$132.53
Days on Market42
Property Features for 2218 George Dr
General Information
Standard status
Active
Size
2,822 SF
Building Details
Buildings
1
Listing Agency:
Hargroder Real Estate Group
(337) 945-4888
Listed By:
Dwayne P Hargroder · License #995696954
Source:
Athomerealtyla
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 7:03PM
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 Hargroder Real Estate Group
Investment Insights
Based on property information with market context.
This 2,822-square-foot medical office property is currently configured as a physical therapy office. The existing use provides a foundation for continued healthcare occupancy or conversion to another professional setting.
Located at 2218 George Dr in Opelousas, Louisiana, the building is also identified as suitable for uses such as home health, family medicine, dentistry, urgent care, dialysis, or an insurance agency.
Located at 2218 George Dr in Opelousas, Louisiana, the building is also identified as suitable for uses such as home health, family medicine, dentistry, urgent care, dialysis, or an insurance agency.
Key Highlights
- 2,822‑square‑foot medical office property
- Existing physical therapy office configuration
- Potential reuse for home health, family medicine, dentistry, urgent care, or dialysis
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
$26,368
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
7.05%
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%
$527,360
$527.4K
Cap Rate 7%
$376,686
$376.7K
Cap Rate 9%
$292,978
$293.0K
Market Conditions
NOI Build-Up for 2,822 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
$49.1K $17.40/SF
− Vacancy
−$5.2K −$1.83/SF
EGI
$43.9K $15.57/SF
− OpEx
−$17.6K −$6.23/SF
NOI
$26.4K $9.34/SF
Area
St. Landry County, LA
Vacancy
10.50%
Lease Rate
$17.40 /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%
$527,360
Cap Rate 7%
$376,686
Cap Rate 9%
$292,978
Alternative Uses
Best Use
Healthcare Medical
$376.7K
$329.6K – $439.5K
NOI $26,368 @ 7.0% cap · market cap 7.05%
Second Best
Office B
$308.4K
$269.9K – $359.8K
NOI $21,588 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$425.7K
$372.5K – $496.7K
NOI $29,800 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70570, LA
38,746
Population
17,099
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
171.8 sq mi
ZIP Area
226
Density / Sq Mi
$45,276
Median Household Income
$33,090
Median Earnings
$764
Median Rent
$151,300
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical office suitable for professional or healthcare-related reuse.
Where is this medical office space located?
The property is located at 2218 George Dr Opelousas, LA.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: 2,822‑square‑foot medical office property; Existing physical therapy office configuration; Potential reuse for home health, family medicine, dentistry, urgent care, or dialysis
