Countryside Veterinary Clinic
Lockport, NY
Countryside Veterinary Clinic
- Price: $1,239,000
- Cap Rate: 7.75%
- Years Remaining: 5
- Rentable Area: 5,488 SF
Investment Highlights
- Sales Price: $1,239,000
- Cap Rate: 7.75%
- Years Remaining: 5
- Lot Size: 0.63 Acres
- Market: Lockport, New York
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, corporate signed, freestanding, Blue River – Countryside Veterinary Clinic investment property in Lockport, New York. The tenant, BRM NY MGMT, LLC, signed a brand new 5-year lease in February 2021 providing for an initial term through 2026 with 3 (5-year) options to extend. The lease is signed by the corporate entity and is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. Blue River Petcare Group, LLC is a leading operator of veterinary hospitals caring for household pets, managing a network of 118 general practice hospitals and 300+ veterinarians across 23 states in the U.S.
Location
The subject property is strategically located near the signalized, hard corner intersection of Dysinger Road and Old Beattie Road, averaging a combined 10,100 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign situated along Old Beattie Road. Located within a strong retail corridor, the asset is nearby to a variety of national/credit tenants including Walmart Supercenter, The Home Depot, Tractor Supply Company, T.J. Maxx, Dollar Tree, Big Lots, PetSmart, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Moreover, the asset is within close proximity to multiple apartment complexes including Glendale Garden and Foxwood Place (164 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by more than 46,000 residents and 25,000 daytime employees with an average household income of $76,500.
