108 Westover Dr Thibodaux, LA 70301

Property Details for 108 Westover Dr

Property type

Commercial real estate

APN

52846899

APU

52846899

Description

This exceptional investment opportunity presents a 6,520-square-foot, Class A, freestanding medical building in Thibodaux, Louisiana. The property, built in 2017, is currently 100% occupied by Fresenius Medical Care under a net lease with a corporate guarantee. The lease, commencing September 30, 2017, has a remaining term of nine years, with three five-year renewal options. Annual rent escalations are 1.7% during the initial term and 2% during the renewal options, providing a hedge against inflation. The property boasts a strong 5.90% capitalization rate and a Net Operating Income (NOI) of $226,878. The tenant is responsible for most operating expenses, including property taxes, insurance, utilities, and maintenance (up to $2,500 per HVAC repair). Landlord responsibilities are limited to structural repairs exceeding $2,500, roof replacement, and parking lot maintenance. Situated on a 1.45-acre lot at 108 Westover Dr, Thibodaux, LA 70301, this single-story building benefits from its location in a high-traffic retail area alongside major national retailers. This investment offers a secure, long-term income stream backed by a financially stable, investment-grade tenant. The property's recent construction minimizes potential repair costs, making it an attractive option for investors seeking a low-maintenance, high-return asset in the essential healthcare sector.

Location Insight

City

Thibodaux

County

Lafourche

State

Louisiana

Longitude

-90.7403

Latitude

29.8126

CBSA code

26380

CBSA name

HOUMA-BAYOU CANE-THIBODAUX, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments