CareVet - CareVet of Southern Illinois - Marion, IL
CareVet - CareVet of Southern Illinois
- Price: $1,095,000
- Cap Rate: 7.33%
- Years Remaining: 5
- Rentable Area: 4,400 SF
Investment Highlights
- Sales Price: $1,095,000
- Cap Rate: 7.33%
- Years Remaining: 5
- Lot Size: 2 Acres
- Market: Marion, Illinois
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 NNN leased, freestanding, CareVet of Southern Illinois investment property located in Marion, Illinois. The Tenant, CareVet, has over 5 years remaining in their initial term with 2 five (5) year options to extend. The lease features 2% annual rental increases. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
Location
CareVet of Southern Illinois is strategically located on IL-37 S. The site benefits from superior visibility via significant street frontage and a pylon sign with an LED screen situated along IL-37 S. It shares this busy Marion area with businesses like Subway, Wendy’s, Marathon, Dollar General. The location benefits from the frequent street traffic of IL-37 S, which sees 6,571 vehicles daily. The 5-mile trade area is supported by a population of 7,940 and 1,195 daytime employees with an average household income of $106,659.
