SVP - South Flower Mound Animal Hospital & Bowen Eye Dr.
Flower Mound, TX
VCA - Carriage Hills Animal Hospital
- Price: $2,700,000
- Cap Rate: 6.03%
- Years Remaining: 14
- Rentable Area: 6,449 SF
Investment Highlights
- Sales Price: $2,700,000
- Cap Rate: 6.03%
- Years Remaining: 14
- Lot Size: 1.21 Acres
- Market: Flower Mound, Texas
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, SVP & My Eye Doctor investment property located in Flower Mound, Texas. The Tenant, Southern Veterinary Partners, has over 14 years remaining in their initial term with 2 5-Year options to extend. The lease features annual rental increases of the higher value between either 3% or CPI. The lease is a triple net with limited landlord responsibilities of roof, structure, and common areas, making it an ideal, low-management investment opportunity for a passive investor. My Eye Doctor recently acquired Bowen Eye Care, the premiere solution for eye care in Flower Mound. Southern Veterinary Partners employs over 5,000 people nationwide and was on Inc. 5000’s List of “Fastest Growing Companies in America” three years in a row.
Location
SVP & My Eye Care are strategically located on Northshore Boulevard. The site benefits from superior visibility via significant street frontage and a monument sign situated along Northshore Blvd. It shares this busy Flower Mound area with businesses like Chase, Chili’s, Dairy Queen, Dunkin’, and Kroger. The location benefits from the frequent street traffic of Long Prairie Road, which sees 63,245 vehicles daily. The 5-mile trade area is supported by a population of 210,387 and 88,831 daytime employees. Within a 1-mile trade area of the subject property, residents boast an affluent average household income of $177,025.
