Brandon Equine Medical Center
- Price: $3,088,000
- Cap Rate: 6.00%
- Years Remaining: 5
- Rentable Area: 7,954 SF
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Brandon Equine Medical Center
Brandon, FL
Investment Highlights
- Sales Price: $3,088,000
- Cap Rate: 6.00%
- Years Remaining: 5
- Lot Size: 4.89 Acres
- Market: Brandon, Florida
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, freestanding, Brandon Equine Medical Center investment property located in Brandon, Florida. The tenant, PetVet Care Centers (Florida), LLC, has over 5 years remaining in their initial term with 2 (5-year) options to extend. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, structure, and replacement to all utility systems and parking lot, making it an ideal, low-management investment opportunity for a passive investor. Additionally, On Course Agility, LLC currently leases half an acre of the southeast corner of the property through December 31, 2022, providing a future investor with an additional income stream. With more than 260 general, specialty and emergency hospitals, PetVet Care Centers is a nationwide veterinary network with a solid commitment to pets and their owner in every community they serve.
Location
The subject property is stratefically located long East Bloomingdale Avenue, a major retail and commuter thoroughfare averaging 56,400 vehicles passing by daily. The site is equipped with a large pylon sign, creating excellent street visibility. Additionally, the asset is ideally situated adjacent to Bloomingdale Square, a 251,635 square foot, recently developed neighborhood center anchored by Publix, Bealls, LA Fitness, and Dollar Tree. E Bloomingdale Avenue is one of the primary retail corridors traveling through Brandon, featuring a variety of other national/credit tenants including Walmart Supercenter, Target, Home Depot, Sprouts, Big Lots, Walgreens, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by nearly 225,000 residents and 59,000 daytime employees. Residents within 1 mile of the subject property boast a healthy average household income of $96,863.
