Medical Office Building with Exam
For Sale
Contact for pricing
224 Pecan Park Avenue, Alexandria, LA 71303
Built for clinical operations, the property combines patient-facing areas with private professional workspaces.
Property Size19,000 SF
Price / SF$152.87
Days on Market15
Property Features for 224 Pecan Park Avenue
General Information
Standard status
Active
Size
19,000 SF
Property subtype
Special Purpose
Building Details
Year Built
2004
Buildings
1
Building Size
19,000 SF
Tenancy
Multi
Listing Agency:
Better Homes and Gardens Real Estate Rhodes Realty
(318) 359-3103
Listed By:
Justin Gaspard · License #LA 995706208
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 10 at 5:17AM
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 Better Homes and Gardens Real Estate Rhodes Realty
Investment Insights
Based on property information with market context.
This medical office property includes exam rooms, procedure and equipment areas, private offices, and a large central waiting room. The layout was originally designed for medical use, supporting a combination of patient services and professional work areas. The building was constructed in 2004 and is partially leased, with established tenants intending to remain.
Located at 224 Pecan Park Avenue in Alexandria, LA, the property sits directly across from LA Eye & Laser and Red River ENT. Its existing clinical configuration and multiple office areas provide a functional base for medical, dental, and professional office operations, subject to applicable requirements.
Located at 224 Pecan Park Avenue in Alexandria, LA, the property sits directly across from LA Eye & Laser and Red River ENT. Its existing clinical configuration and multiple office areas provide a functional base for medical, dental, and professional office operations, subject to applicable requirements.
Key Highlights
- Originally designed for medical use with exam rooms and procedure areas
- Partially leased with established long‑term tenants intending to remain
- Large central waiting area configured for patient flow
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
$275,521
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
9.18%
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%
$5,510,420
$5.5M
Cap Rate 7%
$3,936,014
$3.9M
Cap Rate 9%
$3,061,344
$3.1M
Market Conditions
NOI Build-Up for 19,624 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
$471.0K $24.00/SF
− Vacancy
−$103.6K −$5.28/SF
EGI
$367.4K $18.72/SF
− OpEx
−$91.8K −$4.68/SF
NOI
$275.5K $14.04/SF
Area
Rapides County, LA
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$5,510,420
Cap Rate 7%
$3,936,014
Cap Rate 9%
$3,061,344
Alternative Uses
Best Use
Office B
$3.94M
$3.44M – $4.59M
NOI $275,521 @ 7.0% cap · market cap 9.18%
Second Best
Healthcare Medical
$3.45M
$3.02M – $4.03M
NOI $241,759 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$5.41M
$4.73M – $6.31M
NOI $378,665 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71303, LA
22,797
Population
10,388
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
87%
High-School Grad
63.4 sq mi
ZIP Area
360
Density / Sq Mi
$66,761
Median Household Income
$40,687
Median Earnings
$1,115
Median Rent
$232,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built for clinical operations, the property combines patient-facing areas with private professional workspaces.
Where is this medical office space located?
The property is located at 224 Pecan Park Avenue Alexandria, LA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Originally designed for medical use with exam rooms and procedure areas; Partially leased with established long‑term tenants intending to remain; Large central waiting area configured for patient flow
