Animal Medical Center of Franklin
605 King Street, Franklin, Louisiana 70538
- Price: $685,714
- Cap Rate: 7.00%
- Years Remaining: 9.5
- Rentable Area: 4,000 SF
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Animal Medical Center of Franklin
Franklin, LA
Investment Highlights
- Sales Price: $685,714
- Cap Rate: 7.00%
- Years Remaining: 9.5
- Lot Size: 0.1 Acres
- Market: Franklin, Louisiana
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 NN leased, corporate guaranteed, freestanding, Animal Medical Center of Franklin investment property located in Franklin, Louisiana. The tenant, CareVet LLC, recently signed a brand new 9.5-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features an annual 2% rental increase during the initial term and each option period, generating additional NOI and hedging against inflation. Landlord responsibilities are limited to maintaining roof, structure, and paved areas making this an ideal low-management investment opportunity for a passive investor. CareVet includes over 80 practices across 27 U.S. States.
Location
Animal Medical Center of Franklin is located off of Main Street, which features 6,300 vehicles passing by daily. Main Street is a major retail thoroughfare for the area and is home to numerous national/credit tenants including Walmart, Walgreens, McDonalds, O’Reilly Auto Parts, and more. Strong surrounding tenant synergy increases consumer draw to the overall trade area and promotes crossover exposure to the site. Animal Medical Center of Franklin is located within close proximity to direct on/off ramp access to State Highway 90 (17,400 VPD), which connects Franklin, LA to the surrounding populous centers. More than 12,500 residents and 4,600 employees support the immediate trade area and features an average household income of $54,871. Approximately 11.38 million U.S. households have gotten a new pet during the COVID-19 pandemic increasing the consumer base for Veterinary Practices. Veterinary Hospitals are highly desirable investments because of economic downturn resistance and continuous demand for animal care.
