Veterinary Hospital Associates
Pueblo, CO
Veterinary Hospital Associates
- Price: $1,530,000
- Cap Rate: 6.00%
- Years Remaining: 8
- Rentable Area: 8,238 SF
Investment Highlights
- Sales Price: $1,530,000
- Cap Rate: 6.00%
- Years Remaining: 8
- Lot Size: 1.16 Acres
- Market: Pueblo, Colorado
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 guaranteed, freestanding, Veterinary Hospital Associates of Pueblo investment property located in Pueblo, Colorado. The tenant, VetCor of Pueblo LLC, has over 8 years remaining in their initial term with 3 (2-year) options to extend. The lease features 2% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease s corporate guaranteed by VetCor Group Holdings Corp. and is NNN with landlord responsibilities limited to roof, structure, and partial HVAC, making it an ideal, low-management investment opportunity for a passive investor. Veterinary Hospital Associates of Pueblo has been operating at this location since 1976, demonstrating their commitment to the site.
Location
The subject property is strategically located near the signalized, hard corner intersection of S Pueblo Boulevard and State Highway 96, averaging a combined 56,200 vehicles passing by daily. Additionally, the sire is ideally situated within close proximity to City Dog Park and Pueblo City Park, two community parks with large grass areas for pet-owners to walk/run their dogs. There is virtually no competition in the surrounded 3-miles trade area, providing the animal hospital with a consistent consumer base from which to draw. The 5-mile trade area is supported by nearly 103,000 residents and 47,000 daytime employees. Residents within 1 mile of the subject property feature an average household income of $63,000.
