Chemung Valley Veterinary Clinic
- Price: $557,343
- Cap Rate: 8.32%
- Years Remaining: 2
- Rentable Area: 2,288 SF
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Chemung Valley Veterinary Clinic
Elmira Heights, NY
Investment Highlights
- Sales Price: $557,343
- Cap Rate: 8.32%
- Years Remaining: 2
- Lot Size: 1.08 Acres
- Market: Elmira Heights, 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 NN leased, freestanding, VCA Chemung valley Animal Hospital investment property located in Elmira, New York. The tenant, Pet Partners, LLC, has over 2.8 years remaining in their initial term with 2 (5-year) options to extend, demonstrating their commitment to the site. 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, HVAC, and utility systems, making it an ideal, low-management investment opportunity for a passive investor. VCA Animal Hospitals operate more than 1,000 small veterinary hospitals in the U.S., Canada, and Brazil. Staffed with over 6,000 fully qualified veterinarians, VCA Animal Hospital is at the forefront of veterinary care for your pet and is committed to improving the standard of care for pets worldwide.
Location
The subject property is strategically located along Lake Road, a thoroughfare that connects directly with Interstate 86 (30,000 vehicles per day), the primary north/south commuter highway traveling through Elmira. The property is equipped with a large monument sign, creating excellent visibility along Lake Road. Additionally, the site is ideally situated near Elridge Park, McKinnon Park, and Brick Pond Park, popular scenic attractions with large areas perfect for pet owners to walk/run their dogs. The 5-mile trade area is supported by more than 67,000 residents and 31,000 daytime employees with an affluent average household income of $67,741.
