Medical Office with Exam
For Sale
$1,675,000
5408 PROVINE Place, Alexandria, LA 71303
Purpose-built medical office with reception, patient waiting, administrative, conference, and examination areas.
Property Size8,000 SF
Price / SF$209.38
Days on Market176
Property Features for 5408 PROVINE Place
General Information
Standard status
Active
Size
8,000 SF
Property subtype
General Commercial
Amenities
3
comm
Parking.
Lot.
Rectangular
0.9291
Rectangular.
Building Details
Year Built
2009
Listing Agency:
Ahrens Realty Company, LLC
(318) 321-1953
Listed By:
DANIEL AHRENS · License #995690161
Source:
Xome
Added: Mar 8
Changed: Aug 29
Last Checked: Aug 30 at 1:04PM
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 Ahrens Realty Company, LLC
Investment Insights
Based on property information with market context.
Built in 2009, this 8,000-square-foot medical office is arranged for clinical and administrative operations. The interior includes a substantial waiting area with a restroom, reception space, file storage, charting areas, four private offices, a conference room, and 10 exam rooms.
The property is located in the Lake District of Alexandria, Louisiana, at 5408 Provine Place. Exterior information identifies on-site parking, while the building’s multi-area layout supports a range of medical office configurations, including use by a larger practice or multiple providers.
The property is located in the Lake District of Alexandria, Louisiana, at 5408 Provine Place. Exterior information identifies on-site parking, while the building’s multi-area layout supports a range of medical office configurations, including use by a larger practice or multiple providers.
Key Highlights
- 8,000 SF medical office building
- 10 exam rooms for clinical operations
- Four offices plus conference room
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
$112,320
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
6.71%
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%
$2,246,400
$2.2M
Cap Rate 7%
$1,604,571
$1.6M
Cap Rate 9%
$1,248,000
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$192.0K $24.00/SF
− Vacancy
−$42.2K −$5.28/SF
EGI
$149.8K $18.72/SF
− OpEx
−$37.4K −$4.68/SF
NOI
$112.3K $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%
$2,246,400
Cap Rate 7%
$1,604,571
Cap Rate 9%
$1,248,000
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $112,320 @ 7.0% cap · market cap 6.71%
Second Best
Healthcare Medical
$1.41M
$1.23M – $1.64M
NOI $98,556 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,368 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
469
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built medical office with reception, patient waiting, administrative, conference, and examination areas.
Where is this medical office space located?
The property is located at 5408 PROVINE Place Alexandria, LA.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: 8,000 SF medical office building; 10 exam rooms for clinical operations; Four offices plus conference room
