Columbus Veterinary Medical Center
- Price: $1,020,000
- Cap Rate: 6.00%
- Years Remaining: 14
- Rentable Area: 4,384 SF
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Columbus Veterinary Medical Center
Columbus, GA
Investment Highlights
- Sales Price: $1,020,000
- Cap Rate: 6.00%
- Years Remaining: 14
- Lot Size: 0.57 Acres
- Market: Columbus, Georgia
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding Columbus Veterinary Medical Center investment property located in Columbus, Georgia. The tenant, Southern Veterinary Partners, LLC, has approximately 14 years remaining on their current lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rent increases, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Headquartered in Birmingham, AL, Southern Veterinary Partners operates 89 animal hospitals in 12 southern states with over 2,000 employees. Since August 2018, the company has been named one of the fastest-growing companies in America, earning the rank 286 on the Inc. 5000, which evaluates growth over a 3-year span.
Location
The subject property is strategically located near the signalized, hard-corner intersection of Schomburg Rd. and Warm Springs Rd., averaging 27,300 vehicles passing by daily. In addition, the site is located in close proximity to State Highway 85, a major retail and commuter thoroughfare averaging 45,400 vehicles per day, and benefits from direct on/off ramp access to Interstate 185 (74,100 VPD) and U.S. Highway 80 (57,900 VPD). The site benefits from excellent visibility via a large monument sign along Schomburg Rd. (11,000 VPD). Moreover, the property is ideally situated between several major shopping centers including Columbus Park Crossing (1,246,563 SF), Billings Crossing Plaza (189,148 SF), and Britt David Shopping Center (85,752 SF). Nearby national/credit tenants include Walmart Supercenter, Petco, Sam’s Club, Ross Dress for Less, Publix, Lowe’s Home Improvement, Home Depot, Hobby Lobby, and more. Strong tenant synergy increases consumer draw to the immediate trade area and provides crossover store exposure to the site. The 5-mile trade area is supported by 105,554 residents and 55,187 employees, providing a direct residential consumer base from which to draw. Residents within 3 miles of the subject property boast a healthy average household income of $80,322.
