Heart and Paw - Caroline Veterinary Clinic
- Price: $466,000
- Cap Rate: 7.50%
- Years Remaining: 5
- Rentable Area: 1,972 SF
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Heart and Paw - Caroline Veterinary Clinic
Ridgely, MD
Investment Highlights
- Sales Price: $466,000
- Cap Rate: 7.50%
- Years Remaining: 5
- Lot Size: 0.31 Acres
- Market: Ridgely, Maryland
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN leased, freestanding, Caroline Veterinary Clinic investment property located in Ridgely, Maryland. The Tenant, Heart + Paw, has over 5 years remaining in their initial term with 3 (5-Year) options to extend. The lease features annual rental increases of 2%. The lease is a double net with limited landlord responsibilities of HVAC, roof, foundation, and parking lot, making it an ideal, low-management investment opportunity for a passive investor. Heart + Paw is a growing and already popular pet lifestyle brand that offers a wide range of services from veterinary care to boarding, grooming, daycare, and retail.
Location
Caroline Veterinary Clinic is strategically located on 9 N Central Avenue, which provides direct access to downtown Ridgely. The site benefits from excellent visibility via significant street frontage and a monument sign. The hospital has no competition in the surrounding 3-mile trade area, which provides it with a consistent consumer base. Caroline Veterinary Clinic is also within close proximity to Martin Sutton Memorial Park, a popular community park with a large lawn for pet owners to walk their dogs. The 5-mile trade area is supported by a population of 9,700 residents and 2,000 daytime employees with affluent 1-mile trade area average household income of $101,508.
