Neighborhood Veterinary Centers
Nederland, TX
NVC - Nederland, Texas
- Price: $8,000,000
- Cap Rate: 6.00%
- Years Remaining: 15
- Rentable Area: 16,433 SF
Investment Highlights
- Sales Price: $8,000,000
- Cap Rate: 6.00%
- Years Remaining: 15
- Lot Size: 3.95 Acres
- Market: Nederland, Texas
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-leased, animal hospital investment property located in Nederland, Texas. The tenant Neighborhood Veterinary Centers will execute a 15-year lease at the close of escrow and will have 4 (5-year) options to extend. The lease features 2.5% annual rental increases throughout the term, steadily growing the NOI and hedging against inflation. The lease is a NNN with landlord responsibilities limited to roof and structure. The lease is signed by Neighborhood Veterinary Centers who currently has a network of 7 animal hospitals throughout the Houston / Beaumont market. Outside of Houston, this is the largest referral surgery center in Southeast Texas. When they opened, Gross Revenue started at $80k a week and went up to $140k a week after only 7 months in operation.
Location
Neighborhood Veterinary Center’s Nederland facility is located off of Highway 365, which benefits from over 14,900 daily vehicles going south and 17,200 going north. (160,000 VPD), near many national retailers such as Walmart Super Center, Texas Roadhouse, McDonald’s, Chick-fil-A T.J. Maxx, Target, Panda Express, IHOP, Starbucks, Bed Bath & Beyond, and many others. The subject property is located in Nederland just down the road from Port Arthur, Texas. Right across the street from the Central Mall which is the main shopping center with several major retailers, movie theater and restaurants in the area. The 5-mile trade area is supported by over 84,094 residents and 34,199 daytime employees. Residents within a three-mile radius of the property boast an average household income of $83,311.
