Baton Rouge Vet Center | 5423 S Sherwood Forest Blvd
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Baton Rouge Vet Center 5423 S Sherwood Forest Blvd
7,738 SF Office Building Baton Rouge, LA 70816 $4,251,123 ($549/SF) 6.50% Cap Rate
Executive Summary
U.S. FEDERAL GOVERNMENT CREDIT
Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
NEW 20-YEAR LEASE TERM
First-generation lease with U.S. Department of Veterans Affairs for new 20-year term commencing in November 2023, featuring a rare government lease structure with no termination rights through Lease Year 15
2023 CONSTRUCTION - FINISH-TO-SUIT / RELOCATION
Finish-to-suit for VA, completed in November 2023 and relocating existing Vet Center services in Baton Rouge to a new single-tenant, high-quality facility; project was a redevelopment of a former credit union building to meet the specific requirements of tenant
SIGNIFICANT TENANT INVESTMENT
VA funded $1.99 million in new tenant improvement costs ($257 per foot) paid in lump sum at project completion, demonstrating significant tenant investment in the facility
OUTSTANDING LOCATION in RETAIL CORRIDOR
The new Vet Center in Baton Rouge features an outstanding location in direct proximity to a primary retail corridor with surrounding tenants that include Super Target, Walmart Supercenter, Costco, Top Golf, Albertsons, Home Depot, Kohl’s, Sam’s Club, Lowe’s Home Improvement, Sonic, Starbucks, Shell, Jack in the Box, Mall of Louisiana, and auto dealerships for Mercedes, GMC, BMW, Dodge-Jeep-RAM, Lexus, Toyota, and more
BATON ROUGE - STATE CAPITAL OF LOUISIANA
Baton Rouge, the State Capital of Louisiana, ranks as the 99th largest city within the United States, with a population exceeding 227,000
Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
NEW 20-YEAR LEASE TERM
First-generation lease with U.S. Department of Veterans Affairs for new 20-year term commencing in November 2023, featuring a rare government lease structure with no termination rights through Lease Year 15
2023 CONSTRUCTION - FINISH-TO-SUIT / RELOCATION
Finish-to-suit for VA, completed in November 2023 and relocating existing Vet Center services in Baton Rouge to a new single-tenant, high-quality facility; project was a redevelopment of a former credit union building to meet the specific requirements of tenant
SIGNIFICANT TENANT INVESTMENT
VA funded $1.99 million in new tenant improvement costs ($257 per foot) paid in lump sum at project completion, demonstrating significant tenant investment in the facility
OUTSTANDING LOCATION in RETAIL CORRIDOR
The new Vet Center in Baton Rouge features an outstanding location in direct proximity to a primary retail corridor with surrounding tenants that include Super Target, Walmart Supercenter, Costco, Top Golf, Albertsons, Home Depot, Kohl’s, Sam’s Club, Lowe’s Home Improvement, Sonic, Starbucks, Shell, Jack in the Box, Mall of Louisiana, and auto dealerships for Mercedes, GMC, BMW, Dodge-Jeep-RAM, Lexus, Toyota, and more
BATON ROUGE - STATE CAPITAL OF LOUISIANA
Baton Rouge, the State Capital of Louisiana, ranks as the 99th largest city within the United States, with a population exceeding 227,000
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
7,738 SF
Building Class
B
Year Built/Renovated
2010/2018
Price
$4,251,123
Price Per SF
$549
Cap Rate
6.50%
NOI
$276,323
Tenancy
Single
Building Height
1 Story
Typical Floor Size
7,738 SF
Building FAR
0.18
Land Acres
0.98 AC
Zoning
Light Commercial
Parking
38 Spaces (4.91 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $225,000 | |
| Land Assessment | $40,000 | Total Assessment | $265,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$40,000
Improvements Assessment
$225,000
Total Assessment
$265,000
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Baton Rouge Vet Center | 5423 S Sherwood Forest Blvd
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